Any vehicle being financed through a secured loan must generally hold 12 months Comprehensive Insurance as required by the credit provider. Comprehensive Insurance provides cover for loss or damage to the vehicle or vehicles involved in the event of an incident.
At the time of an incident, the insurer may pay either an agreed value or the market value of the vehicle, or simply covering the cost of repairs. Comprehensive Insurance covers you in the case of accidental or malicious damage, fire, theft, storm, hail, flooding, and some insurers will include extra benefits such as towing and replacement vehicle. Every insurer has their own guidelines and PDS documents. We can assist in arranging your comprehensive insurance and this can usually be included with your loan repayment for peace of mind* Enquire Now!
GAP provides you with a certain level of financial protection when your vehicle is deemed a total loss from your comprehensive insurer and it can no longer be repaired for safe use. GAP cover will pay the financier the shortfall amount on your loan based on the payout figure settled by your comprehensive insurer at the time of the incident.
Additional benefits also apply; GAP gives you financial assistance towards your next vehicle paying up to $4000 for out of pocket expenses and if you happen to have no shortfall at the time of an incident then up to $2000 still applies for out of pocket expenses. Your level of cover will determine how much shortfall and additional benefits will be paid.
Your CLC Online consultant can assist you in arranging the right level of GAP cover to suits your vehicle and needs. GAP cover can also be included within your loan repayments to be easily managed. Enquire Now for GAP cover and don’t fall short!*
LTI covers you during the loan term in the case that you may suffer a disability, become involuntarily unemployed, suffer critical illness, or become bankrupt (for those who are self-employed) or even go through divorce. These times can be very tough financially; this insurance product can ease the worries during trying times.
Based on the level of cover you choose, you then hold the option to “Hand Back” the vehicle to the dealer, and subject to your LTI cover, if the payout figure on your finance contract is more than the value of your vehicle then insurer will pay out the shortfall to the financier. If you wish to consider this insurance cover to assist in feeling safer financially then Enquire Now for LTI cover.*
Credit insurance offers assistance in making your car payments for you in the case of disability, unemployment or death. This cover will either help you keep your car during tough times and preserve your credit rating or in the terrible event of death it will protect your family from the financial burden of your vehicle loan by paying out the loan in full up to an amount of $100,000.00.
Credit Insurance can be purchased within your loan to simplify your monthly expenses. If you have a family to protect financially then this cover may suit your needs. To discuss Credit Insurance further with us please Enquire Now and we will gladly assist with your needs.*
If you are looking for Mechanical peace of mind protection for your vehicle then look no further than Extended Warranty Cover. With cover up to 5 years from date of purchase and coverage for parts and labour as well as unlimited claims, it’s easy to see why Extended Warranty & Roadside Assist is amongst our most popular choices for loan protection.
When you outlay funds to pay your loan, the last thing you need is to pay for warrantable mechanical faults for up to 5 years down the track. With many options for every vehicle starting at under $1 a day, Enquire Now to find out what suits your car from the Grand Warranty, Sentinel Warranty and Extension to Manufacturer Warranty ranges.*
*Disclaimer- This is general advice given to our clients at CLC Online and does not take into account your personal circumstances, financial status and needs. We strongly suggest you read the Product Disclosure Statement (PDS) documents related to each product prior to purchasing and always consider your own personal circumstances. For the PDS documents related to your enquiry product feel free to ask our friendly staff for a copy.