GAP Insurance (Autosure Protection)

Gap Insurance is insurance against a shortfall that may occur in the event that your vehicle is stolen or written off, and your Comprehensive Motor Vehicle Insurance payout does not cover the loan balance outstanding on your finance agreement.

This could potentially leave you with a shortfall of  thousands of dollars.

A shortfall may occur when you include purchase related expenses such as stamp duty, registration, dealer delivery or comprehensive insurance cover in the loan which do not add to the vehicles value. Or, it may occur when the vehicles value falls faster than the loan balance due to the combined effect of accrued interest and the vehicle depreciating.

Benefits of Gap Insurance

• Reduces or eliminates your financial exposure to a shortfall between the insurance payout and the outstanding balance on the loan (up to $20,000)
• Provides the potential to borrow additional funds to purchase a better vehicle
• Provides added protection for your credit rating
• Includes an additional benefit that can provide a one off payment of up to $5,000 for any inconvenience suffered
• The premium covers you for the full term of the loan and can be included in the amount financed

Who does Gap Insurance suit?

Gap Insurance is suitable for all customers who finance a motor vehicle and want peace of mind and protection from financial exposure that may occur should their vehicle be stolen or written off.

Want to know more?

To find out more about Gap Insurance or get a quote, please complete an online enquiry or call us on 1300 STRATTON (1300 787 288).

St Andrew's Insurance (Australia) Pty Ltd (St Andrew's) ABN 89 075 044 656 AFSL 239649 is the issuer of Autosure Protection. Autosure Protection is not a product of, nor guaranteed by Stratton Finance ABN 52 913 104 430. Any advice given is of a general nature only and is not based on any consideration of your financial situation or needs. To decide if Autosure Protection is right for you please read the Product Disclosure Statement which can be obtained from Stratton Finance. Stratton Finance is authorised by St Andrew's to provide general advice, to arrange Autosure Protection and may receive a commission from the issuers of up to 49.5% of the net premium on any product arranged by it. Autosure Protection is not compulsory and you are free to choose any provider for this type of insurance. All cover is subject to acceptance by the issuers.