Lease Insurance (Leasesure Protection)
Lease Insurance is a cost effective insurance policy designed to secure vehicle lease repayments in the event you are unable to continue to meet your financial commitment.
A lease enables you to finance a vehicle as part of your salary package. Lease Insurance is a simple insurance solution that protects you from financial exposure on your lease that could occur through death or involuntary unemployment.
You can also cover the shortfall that may occur if your vehicle is stolen or written off, and the insurance payout does not cover the balance still owing on your lease.
Cover options
There are two levels of cover available:
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Life, Involuntary Unemployment and Gap cover
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Life and Involuntary Unemployment cover
Benefits of Lease Insurance
Under Life cover, Lease Insurance can pay the difference of any shortfall between the sale price of the vehicle, and any remaining balance due on the lease (to a maximum of $15,000).
If you become involuntarily unemployed for more than 30 days, Lease Insurance can make the lease repayments after the first 30 days, or until you return to work, or until 3 months lease payments have been made, to a maximum of $15,000.
You can elect to return the vehicle to the financier within 30 days of becoming unemployed, and Lease Insurance can pay any shortfall between the sale price of the vehicle and the outstanding balance on your lease (to a maximum of $15,000).
The Lease Insurance premium covers you for the term of the lease, and can be included in the amount financed under your lease agreement.
Want to know more?
To find out more about Lease 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 ABN 89 075 044 656 AFSL 239649 and St Andrew's Life Insurance Pty Ltd ABN 98 105 176 243 AFSL 281731 (collectively St Andrew's) are the issuers of Leasesure Protection. Leasesure 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 Leasesure 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 Leasesure Protection and may receive a commission from the issuers of up to 49.5% of the net premium on any product arranged by it. Leasesure 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.