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GUARANTEED ASSET PROTECTION* | |||||
If you are financing your vehicle and that vehicle is a total loss through accident or theft, your insurance cover may not be enough. For example; if you borrow $20,000 to buy your car and the insurance payout is less than this, youre not only without a vehicle, there is a shortfall that you still owe. Guaranteed Asset Protection (GAP) will pay that shortfall for you up to $10,000 (plus additional benefits if selected) once your vehicle insurer has accepted your claim. |
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| Example: Assuming a nil deposit and a residual value of 25% of the purchase price | ||||||
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Because PROTECTA Insurance will meet your obligation to pay any shortfall of up to $10,000 (plus any additional benefits chosen). The above graph illustrates when and how much you could lose without PROTECTA Insurances Guaranteed Asset Protection. Do you want to be left paying for a vehicle you no longer own? |
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PROTECTA Insurance Guaranteed Asset Protection provides the following optional additional benefits to meet out of pocket expenses. |
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Comprising delivery charges and registration in relation to the purchase of your replacement vehicle. |
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The Comprehensive Motor Vehicle Insurance premium will be paid in relation to your replacement vehicle. |
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The Comprehensive Motor Vehicle Insurance excess in relation to the "total loss" vehicle will be paid. |
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The cost of hiring a rental vehicle to a maximum of $100 per day and for a maximum of 5 days. We offer three levels of cover, as follows: |
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| Option | Cover | + | Additional Benefits | |||
| 1 | $10,000 | + | $2,500 | |||
| 2 | $10,000 | + | $1,000 | |||
| 3 | $10,000 | + | NIL | |||
| *This is NOT a policy wording, but a summary
of the cover. |
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