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% 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?