How do I benefit?
Peace of mind & affordability
Avoid large unexpected expenses
- Cover the shortfall on your insurance payout
- If there’s no shortfall you will receive up to $2000
- Claim personal expenses like car hire and personal items
- No excess
- Cancel within 21 days and receive a full refund
Is this Gap Insurance right for me?
Every car owner is at risk for accidents or theft. These terrible and unexpected circumstances are out of your control. But you can control your cover.
Gap Insurance can shield you from unexpected expenses and help you avoid forking out to pay a financer large amounts towards a vehicle that has already been written off!
What is covered?
If your vehicle is declared a total loss by your comprehensive vehicle insurer and the amount your comprehensive insurer pays you out is less than the amount you owe the financier then we will pay the difference up to the value of $30 000.
When your comprehensive insurer pays your settlement, you can claim for private expenses that are the direct result of the incident, from us. We can cover these private expenses (like loss of personal items, car hire, meals) for up to $10 000 with shortfall or $2000 without shortfall.
If you finish your payments to your financer early you will be able to claim for private expenses that are the direct result of an incident that lead to your vehicle being declared a total loss by your comprehensive vehicle insurer.
The fine print
Who is eligible for Gap Insurance?
Individuals who are over 18, own a vehicle, are responsible for the vehicle’s financial agreement and have comprehensive insurance on the vehicle are eligible for Gap Insurance.
What else should I know?
In the event of Total loss, if there is no short fall, a claim for private expenses will be limited to $2000
If any of your or your car’s particulars change during the course of the policy you are obliged to let us know
Please read the Product Disclosure Statement (PDS) for full terms, conditions, exclusions and key factors before purchasing or quoting for this insurance
Disclaimer
These products are issued by Eric Insurance Limited ABN 18 009 129 793 AFSL 238279 (eric). AMHA Finance Pty Ltd Authorised Representative No: ABN 56 154 693 455, trading as Trading Name: LiquidCapital, is an authorised representative of eric. This website may contain general financial product advice that does not consider your personal financial circumstance.
An Adcover Policy takes care of the shortfall between your comprehensive car insurance pay out and the settlement amount owed to the finance house according to your finance agreement at the time of a total loss .
Your car qualifies for an Adcover Policy if:
It’s still financed through a finance house
It has an active motor comprehensive policy covering the car
You have the following option to pay for an Adcover Policy:
Monthly
You can purchase Adcover via our national call-centre or through approved dealerships
