When you’re financing a car, it’s important that you protect it with quality insurance. Motor Equity Insurance protects you in the event of a total vehicle loss. Don’t get caught paying out a loan on a car you no longer have.
In the event that your comprehensive car insurer declares a total loss, the amount paid may fail to meet the amount owed. The remaining amount is called a “shortfall”. Should this situation arise, Motor Equity Insurance covers the shortfall you owe a lender.
There’s a variety of options available, all covering different cars and loans. Each option has a different maximum payable amount.
Contact us to find out which option will best suit your circumstances.
An Agreed Value with an insurance company may not always meet the amount payable on the loan. After all, the Agreed Value doesn’t take the interest owed into consideration. You may still need Motor Equity Insurance, so contact us to discuss your options.
The terms of a Comprehensive Insurance policy are not the same as a Motor Equity Insurance Policy. A Motor Equity Insurance Policy is designed to be a safety net, preventing you from potentially owing thousands of dollars in the event of an accident.
If you have to pay your loan off before the agreed completion date, Motor Equity Insurance will not cover any early exit fees. Apart from the shortfall, Motor Equity Insurance does not cover amounts owed as part of a Car Loan agreement.
Here at Car Finance Australia, we’re passionate about delivering services that meet the needs of every customer. If you need more info, we’re happy to help.
Contact us now and one of our friendly consultants will get back to you as quickly as possible.
Would you like some more information on Motor Equity Insurance? Car Finance Australia is passionate about delivering services that match the needs of the customer, and would be happy to answer any further questions.
Simply fill in one of our online enquiry forms, and one of friendly consultants will contact you shortly to determine what options suit you.