Insurance

Lifestyle Protection Insurance

Have you or someone you know ever had an unexpected event like illness, an accident or a redundancy really muck things up in terms of the finances? While it’s not a fun topic to discuss, these things can happen. Lifestyle Protection Insurance (LPI) provides peace of mind by covering you if any of those events happen. You choose the level of cover and you can also include family members in the policy.

Why should you consider Lifestyle Protection Insurance?

• Protects you and your family members from financial hardship.
• Only one low cost premium which is automatically included in your loan re-payments.
• Provides peace of mind against unexpected life events such as accident, illness, redundancy, bankruptcy, suspension, hospitalisation and death.
• Protects your credit rating and maintains a good relationship with lenders.

How it works:

Say you had an accident and were unable to work for three months. You had also taken out Lifestyle Protection Insurance and you’d set your monthly benefit at $400 to cover the cost of your car loan. During those three months while you’re recovering, you’ll get a monthly benefit of $400 from the insurance provider, subject to terms & conditions. This takes away the stress of how you’re going to pay your car loan, allowing you to focus on recovering.

Guaranteed Asset Protection Insurance

Even great drivers who take all of the precautions can have things happen. Guaranteed Asset Protection (GAP) insurance covers you in case your car is stolen or written off from an accident and the insurance payout is less than the finance you still owe. For example, if you owe $15,000 on your car but the insurance value is $11,000, you will have a shortfall of $4,000 still to pay on your loan if your car is stolen or written off. This would be covered by the GAP insurance.

Why should you consider Guaranteed Asset Protection insurance?

• Protects you against a shortfall in an insurance payout due to depreciation of the car.
• Especially important if you are putting less than a 20% deposit down.
• Only one low cost premium which is automatically included in your loan re-payments.
• Cover available to suit your loan.

Mechanical Breakdown Insurance

Most of us have been in the situation or known someone close to us in the situation where everything is going just to plan and then wham – the car has a breakdown. It always seems to be at the worst time too.

Mechanical Breakdown Insurance protects you in case your car has an unforeseen mechanical breakdown. It covers a wide range of mechanical and electrical parts, and it helps cover many other costs that can come along with a mechanical breakdown, including parts and labour.

Why should you consider Mechanical Breakdown Insurance?

• Cover for reasonable repair of most mechanical and electrical parts.
• Claim costs are paid directly to the repairer, so no need to front the costs.
• 24-hour AA roadside assistance including flat battery, towing, lost or locked out key, flat tyre, etc.
• Variety of plans available to suit your vehicle and preferences.
• No limit on the number of claims during the policy term.
• Accommodation or rental car allowances, depending on how long it will take to repair your vehicle.

For terms and conditions on all of the above insurance policies, call us on 0508 LUV JACK / 0508 588 522.