What is asset protection insurance?
Everyone knows that you don’t buy a car as an investment: a new car can lose a full 20% of its value as soon as it leaves the dealership! That means your car could be worth less than what you owe your lender. If it gets written off or stolen, you could be left with a hefty bill.
Asset protection insurance covers the shortfall between the ‘total loss’ payment from your comprehensive insurer and the amount you need to settle your loan.
Don’t get caught short
If you’ve been in a major accident, the last thing you need to worry about is whether you can afford to pay out your finance! With asset protection insurance you can rest easy, knowing that, if the worst should happen, you’ll be able to afford to settle your loan and replace your car without having to downgrade.
Features of asset protection insurance
- 5 years’ coverage
- No excess
- Choose from three levels of cover
- Pay upfront or by instalments
- Additional API Plus benefits.