Car Insurance
Auto Car Finance now offers Car Insurance and that means instant protection for you, your car and your loan.
Auto Car Finance advantage;
- Personal service;
- Competitive premiums;
- Flexible options to meet your individual needs.
Rating 1 For Life
If you have been a Rating 1 driver with your current insurer for the past 2 years and have made no 'at fault' claims in that time, you're automatically eligible for Rating 1 For Life at no extra cost. Your Rating 1 is protected, no matter how many claims you have in the future or who is at fault.
2 Year New Replacement Vehicle
If you are the first registered owner of a car, 4WD, motor cycle, utility or van up to 2 tonnes carrying capacity, you can choose to accept a new replacement vehicle of the same make, model and series if your vehicle:
- Has comprehensive cover and
Is a total loss within 2 years of the date your vehicle was first registered.
Lifetime repair guarantee
The quality of materials and workmanship used in authorised repairs are guaranteed for the life of your vehicle, even if you no longer own it. This means that we will fix up any problems caused by faulty material or workmanship.
Choice of Repairer
As a standard policy feature of the comprehensive car insurance, you have the option to choose your own repairer. If you choose a repairer that does not meet the high standards required of our recommended or approved repairers, we may not authorise your repairs and our Lifetime Repair Guarantee will not apply.
Motor Equity Insurance
Motor Equity Insurance (MEI) is a policy that offers cover when the payout on the loan contract exceeds the payout of your comprehensive insurance policy. Motor Equity Insurance pays the difference between the two.
To apply for Motor Equity Insurance, the Customers vehicle
- Must be subject to a loan contract;
- Must have comprehensive motor vehicle insurance
What is covered by this policy;
Loan Settlement Cover
If a total loss payment is made in relation to your vehicle by the customers comprehensive insurer we will pay your financier the difference between the total loss payment and the loan settlement amount subject to the cover chosen by the customer. Please refer to the Motor Equity Insurance Policy Document for specified limits, Rate charts and Underwriting Guidelines.
Extra Cover
If a total loss payment is made by an insurer in relation to the customers vehicle, we will also pay the customer for the following extra expenses incurred on their replacement vehicle;
- Policy Excess (motor vehicle);
- Delivery charges;
- Registration costs;
- Compulsory third party insurance;
- Stamp duty;
- Up to 10 days car hire up to a maximum of $70.00 per day, but only if the car hire has been arranged by or approved by us.
Loan Protection Insurance
Loan Protection Insurance products protect a customer against the risk of being unable to meet their loan repayments as a result of death, trauma, disability or involuntary unemployment, subject to any maximum payouts stipulated in the contract.
Loan Protection Insurance products are not compulsory and in all cases can only be taken as part of a loan package. Business Loan Protection Insurance (or BLPI) can only be taken if at least 50% of the loan will be applied towards business or investment purposes.
Our Loan Protection Insurance products are designed to provide customers with protection and peace of mind knowing that if the unforeseen happens, their repayments will be made in those circumstances which are covered.
There are three (3) types of cover available under this these products:
Trauma and Death Cover
Trauma and Death cover pays the net balance under a customers loan agreement in the event of the death of the customer or if the customer is diagnosed with one of the following specified traumas during the period of cover;
- Cancer;
- Coronary artery bypass surgery;
- Heart attack;
- Major stroke.
The maximum amount payable under this policy cover is the outstanding balance of a customers loan up to a maximum of $100,000.
There are a number of exclusions that apply to this type of cover. Please refer to the relevant Product Disclosure Statement and Policy Document for full details.
Disability Cover
Disability cover pays a customers loan repayments due under their loan agreement in the event that the customer becomes totally disabled for longer than the elimination period, subject to the policys limits. Payments will start from the end of the elimination period and continue for as long as the customer is totally disabled or until the policy ends, whichever happens first.
This cover will meet instalments up to a maximum of $3000 per month. The maximum amount payable during the entire period of insurance and for claims by all insured persons combined is $100,000.
There are a number of exclusions that apply to this type of cover. Please refer to the relevant Product Disclosure Statement and Policy Document for full details.
Involuntary Unemployment Cover
Involuntary unemployment cover pays the customer's loan repayments due under their loan agreement in the event that the customer becomes involuntarily unemployed for longer than the elimination period. Payments will continue for as long as the customer remains involuntarily unemployed up to a maximum period of 120 days or until the policy ends, whichever happens first.
This cover will meet instalments for 120 days up to a maximum of $4000 per claim. The maximum amount payable during the entire period of insurance is $10000, for claims by all insured persons combined.
There are a number of exclusions that apply to this type of cover.
Choice of Cover;
A customer may choose any one of the following combinations of cover;
- Trauma and death, disability and involuntary unemployment;
- Disability and involuntary unemployment;
- Trauma and death and disability;
- Disability only;
- Trauma and death only.
Warranty
Understanding The Provisions Of Your Extended Auto Warranty
An extended auto warranty can be a confusing document for many people. Indeed, there are very few people who actually completely understand the terms and conditions -- and the requirements placed on the consumer -- associated with an extended auto warranty.
By understanding the terms, conditions and provisions of an extended auto warranty, you can determine if the added protection is right for you. Do keep in mind that when you purchase a new automobile, the manufacturer provides you with a relatively comprehensive warranty at no additional charge. As a general rule, an extended auto warranty expands the term that the manufacturer’s warranty will remain in place. For example, there are warranties available that will expand the length of coverage from a standard three year term to five or even ten years. (In some instances the extended warranty will also broaden the items that are covered by at least some degree.)
When considering the purchase of an extended auto warranty, you need to closely examine what precisely you will gain by paying additional money for the added protection. As mentioned, the primary benefit that can be had by purchasing most extended warranties is a lengthening of the amount of time the automobile will be protected by the warranty coverage. Extending the warranty may not make practical sense in some situations. For example, if you have purchased a new automobile that comes with a standard three year warranty coverage, you will not want to obtain extended protection if you will not own the car much beyond the three year term.
Some extended auto warranty plans also expand the breadth of coverage. If you tend to be “hard” on a car, if you tend to incur a significant number of bills for auto maintenance, repair and the like, an extended and expanded warranty program that will provide broader coverage may be a perfect idea for you.
There are a number of oftentimes overlooked elements associated with an extended auto warranty that are extremely important. First of all, many extended auto warranty plans require you to obtain service work on your vehicle at a specific location. Many such plans require you to obtain service work at the dealership or at another specifically authorized service center. If you obtain service work elsewhere, you may void or cancel the warranty all together.
Another common provision on most extended auto warranty plans oblige you to obtain regular service on your vehicle within specifically delineated timeframes. A failure to obtain such service will result in the voiding or cancellation of the warranty.
In the final analysis, before you spend additional money on an extended auto warranty, you need to take the time to weigh and balance the costs and benefits, the obligations and recompenses that are associated with the proposed warranty plan. By doing your homework in advance of enrolling in any extended auto warranty plan you will make certain that you elect the coverage that best meets your particular needs.
