VEHICLE INSURANCE
Global Credit can organise your vehicle insurance when purchasing a vehicle at very competitive rates.
Global Credit can also offer the following Insurance products to protect you and your asset.
PAYMENT PROTECTION INSURANCE
Payment Protection Insurance covers the borrower while the loan is in place in the event of the following circumstances:
DEATH – The death of the Insured prior to such person’s 65th birthday. The policy will pay out the outstanding balance of the loan.
DISABLEMENT – Any illness or accidental injury resulting in the Insured being totally disabled for a continual period of longer than seven days and being prevented from engaging in or attending their usual business or occupation for which they are reasonably suited prior to the Insured’s 70th birthday.
TERMINAL ILLNESS – Any illness or accidental injury resulting in the Insured being totally disabled and thus being prevented from engaging in or attending to their usual business or occupation, which in the sole opinion of the Company after consideration of such medical evidence as the Company shall determine as reasonably necessary, is likely to result in the death of the Insured within 6 months of the date on which the illness or accidental injury was diagnosed or suffered, as applicable, providing the illness or injury occurs prior to the Insured’s 70th birthday.
REDUNDANCY- The insured being made involuntarily Redundant from permanent employment prior to the Insured’s 70th birthday.
BANKRUPTCY – The Insured being self-employed and the Insured being declared Bankrupt by the New Zealand High Court.
GUARANTEED ASSET PROTECTION – GAP INSURANCE
What is GAP Insurance?
If you are financing your vehicle and that vehicle is a total loss through accident or theft, GAP Insurance will cover the shortfall (to a max. $10,000) should your insurance cover not be enough.
For example: if you borrow $20,000 to buy your car and the insurance payout is less than this, you’re not only without a vehicle, there is a shortfall that you still owe. GAP Insurance will pay that shortfall for you up to $10,000(plus additional benefits if selected) once your vehicle insurer has accepted your claim.
Additional Benefits –
On Road Costs – Comprising delivery charges and registration in relation to the purchase of your replacement vehicle.
Premium Cover – The comprehensive motor vehicle insurance premium will be paid in relation to your existing vehicle.
Excess Cover – The comprehensive motor vehicle insurance excess in relation to the “total loss” vehicle will be paid.
Rental Costs – The cost of hiring a rental vehicle to a maximum of $100 per day and for a maximum of 5 days.
MECHANICAL BREAKDOWN INSURANCE (Vehicle Warranty)
Global Credit can offer clients a full range of Mechanical Breakdown Insurance Warranties. Vehicle Warranties cover you in the unfortunate event that your vehicle has a mechanical failure. There are many options available to you in relation to how much you want your vehicle covered. We will be happy to discuss this with you.
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