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Insurance

National Finance Finders strongly encourages customers to consider vehicle and loan protection. Below is a brief description of the range of products available that are designed to protect the loan, the vehicle and the customer.

Purpose of Comprehensive Motor Vehicle Insurance (MVI)

Comprehensive Motor Vehicle Insurance is designed to cover:

  • Accidental loss or damage to your vehicle up to an agreed value (i.e. a set amount we agree with you) or market value (i.e. cost to replace your vehicle with a vehicle of the same make, model, age and condition as your vehicle immediately prior to the loss or damage).
  • Your legal liability up to $20 million each event (including certain legal defence costs).
  • Damage to other people's property caused in a motor vehicle accident which is your fault.
  • Death or bodily injury caused by or arising out of the use of your vehicle in limited circumstances.
  • Certain optional covers (where agreed) such as a removal of basic excess for windscreen claims, protected no claim bonus and restricted driver cover.

Note that the restricted driver option provides a discounted premium, but limits the drivers who are covered under the policy.


Purpose of Guaranteed Auto Protection (GAP)

Guaranteed Auto Protection is designed to:

  • Pay your financier any outstanding balance on your loan contract (up to the policy limit excluding certain amounts such as arrears) where the total loss payment made by the insurer of your comprehensive motor vehicle insurance is insufficient to pay out your loan contract; and
  • In addition to the above pay:
  • The relevant excess paid by you; and
  • Delivery charges, CTP, registration and stamp duty on your replacement vehicle ; and
  • Hire car costs for a replacement vehicle, arising from the total loss claim under your comprehensive motor vehicle insurance up to the relevant limits specified.

Purpose of Consumer Credit Insurance (CCI)

Consumer Credit Insurance is designed to pay (up to the maximum policy benefits):

  • Part of your loan repayments if you are unable to work due to a defined injury or illness (we call this disability cover).
  • Part of your loan repayment if you become involuntarily unemployed (we call this involuntary unemployment cover).
  • The outstanding balance of your loan if you should die or suffer a defined trauma (we call this trauma and death cover).

All benefits payments are made to your financial institution. The benefit payments are calculated by reference to the amount you owe under the loan agreement to which you Consumer Credit Insurance relates.


Purpose of Business Credit Insurance (BCI)

Business Credit Insurance is designed to pay (up to the maximum policy benefits):

  • Part of your loan repayments if you are unable to work due to a defined injury or illness (we call this disability cover).
  • Part of your loan repayment if you become involuntarily unemployed (we call this involuntary unemployment cover).
  • The outstanding balance of your loan if you should die or suffer a defined trauma (we call this trauma and death cover).

All benefits payments are made to your financial institution. The benefit payments are calculated by reference to the amount you owe under the loan agreement to which you Business Credit Insurance relates.


Purpose of Extended Warranty

Extended Warranty is designed to:

  • An Extended Vehicle Warranty can help you avoid large, unexpected repair bills and help you to protect one of your biggest investments - your car. Securing extended warranty coverage before your car's manufacturer's warranty runs out means that you're covered for the mechanical or electrical failure of numerous parts - repairs to which could cost you thousands without cover.

Purpose of Extended Warranty Extended

Warranty is designed to:

  • An Extended Vehicle Warranty can help you avoid large, unexpected repair bills and help you to protect one of your biggest investments - your car. Securing extended warranty coverage before your car's manufacturer's warranty runs out means that you're covered for the mechanical or electrical failure of numerous parts - repairs to which could cost you thousands without cover.

Purpose of Tyre and Wheel Insurance

Tyre and Rim Insurance is designed to:

  • Provide cover for your tyres if they are punctured or damaged by a pothole, kerb, nail, screw, metal, glass, road debris or blowout.
  • Provide cover for any wheel rim becoming cracked, warped or misshapen by a pothole, kerb or road debris.
  • Choice of cover term, 12, 24, 36 months.
  • Pay by the month option.

Purpose of Purchase Price Gap

Purchase Price Gap is designed to:

  • Provide you with protection in the event a customer receives a total loss payment from their Comprehensive Motor Insurance, which is less than the original NET invoice selling price of the vehicle.
  • AG will cover the difference, depending upon your level of cover so you won't be out of pocket.