Car Loan Experts can provide insurance solutions that help you with the peace of mind that your vehicle is covered if it’s stolen or damaged, with a policy that suits your specific needs and circumstances at an affordable price.
When you own a motor vehicle, something can go wrong at any time, and usually at the worst possible time. It’s important to know that you have the right cover, and we can ensure that you have the right policy, which not only reimburses you for damage, but also for storm or hail damage, emergency repairs and windscreen damage and also covers damage caused to someone else’s car or property. We can also provide optional coverage for tyre and wheel damage, or for the mechanical failure of your vehicle caused by tyre or wheel damage.
Even more good news – if you have a good driving history, you’ll be rewarded with a generous no claim bonus discount!
Who pays out your car loan if you have financed a vehicle, and it is damaged beyond reasonable repair or stolen? Like most mechanical items, a car’s value reduces from the day we purchase it, and the principle amount usually remains high during the early period of the loan until we begin to get ahead of the interest. Losing your car is a traumatic experience and unexpected additional costs can only make it worse.
In the event that your car is stolen or damaged beyond repair in the early period of your loan, Car Loan Experts can provide “GAP” insurance, which will take care of this difference up to the value of $15,000, and in addition pay up to $4,000 for any incidental out of pocket expenses.
If your financial situation changes dramatically without warning – for example, due to illness or loss of employment, at some point it may prove difficult to make payments on your new or used car loan. In a situation where the only option is to hand back the vehicle to the Loan Provider to reduce debt, Loan Termination Insurance takes care of the shortfall up to $15,000 – no need to endure added stress!