How can Guaranteed Finance Protection help me?
Many of us have a loan to pay for our vehicles. And it’s prudent to have at least 3rd party insurance to cover the damage done to other vehicles or property if you were in an accident. But what if your vehicle was damaged beyond repair or written off by the insurance company – you’d be left without your car, you’d still have the balance of your loan to pay off and you’d find it difficult to finance a replacement vehicle!
Autolife GFP cover will
- Pay off any outstanding balance of your loan not covered by insurance.
- Protect your credit rating, making it easier to get into your next car.
- Avoid you having to pay off a loan for a car you no longer own.
- Help you get back on the road quicker.
Finance Protection Example
For example, you owe $12,000 on your car but its current insurance value is just $9,000. If your car is written off in an accident, you will have a shortfall of $3,000 still to pay on your loan. With Autolife GFP policy, this amount would be covered by the policy – meaning you would no longer owe the finance company any money!
*Guaranteed Asset Protection is underwritten by Beneficial Insurance Limited. Refer to your individual Policy Document that will be provided on completion of your insurance application for full Policy Conditions.