What is 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, you’re 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.
Why Do I Need It?
Example: Assuming a nil deposit and a residual value of 25{8b3bb90f4d0ac4fb32bba22ba366e44dcf28cc7b11e7a59702002b39d7c6e602} of the purchase price
Because PROTECTA Insurance will meet your obligation to pay any shortfall of up to $10,000 (plus any additional benefits chosen).
The graph illustrates when and how much you could lose without PROTECTA Insurance’s Guaranteed Asset Protection.
Do you want to be left paying for a vehicle you no longer own?