Peace of mind protection for your purchase.
Let’s face it, accidents happen (or nature does) and without the proper insurances, you could be facing a dire financial situation. Depending upon your circumstances, insurances can generally be financed within the loan meaning 1 simple repayment. Ready Set Finance can assist with these insurance options:
Shortfall / GAP Insurance
Protecting you from vehicle depreciation
No matter how robust or excellent quality your car, it is destined for depreciation. Depreciation affects virtually all automobiles. So, to help protect you from this market reality, we have designed a solution. It’s called Shortfall Insurance, or GAP (Guaranteed Asset Protection), and aims to protect against any financial loss that may be incurred as a result of a total loss of the vehicle due to an accident, fire or theft. It is particularly useful for customers who purchase their vehicle through financing. GAP will pay the difference between the motor insurer’s payout and any outstanding financing on the vehicle.
Here’s how it works
Let’s say you paid $15,000 for your car and still owe $14,250. It is stolen and vandalised or has been extremely damaged in an accident, and your motor insurance payout following a total loss is just $10,000. That leaves $4,250 that you still owe on your loan. But with GAP, coverage will be exactly that – $4,250. Your pocketbook is spared and you are protected from the devastating impact of vehicle depreciation.
We can also provide Shortfall / Gap Insurance that covers the difference between the motor insurer’s payout and the current retail price of the vehicle, if it has increased since the date of purchase.
Tyre and Rim insurance
Tyre & Rim Insurance is a simple and cost effective solution to protect you in the event that your car’s wheel rims or tyres are damaged*.
Coverage include tyres being punctured or damaged by a pothole, kerb, nail, screw, metal, glass, road debris or a blowout, and wheel rims becoming cracked, warped or misshapen by a pothole, kerb or road debris.