Short-fall cover or GAP insurance is a very valuable insurance product. This insurance product covers the short-fall between your comprehensive insurance payout and your current loan balance, in the event of a “write-off”.
One very important fact to be aware of is the price of vehicle generally decrease a lot faster than your loan balance will. This is even more evident when purchasing a new vehicle. This means that if your vehicle is written off then there is most likely going to be a shortfall between what your insurer pays you out and what you owe on your current finance. This sort of thing happens all the time and Insurance companies pay out many millions of dollars towards GAP insurance policies each year.
This type of insurance product is relatively low cost and could even be as little as a couple of dollars a week. Speak to a specialist insurance consultant for a free no-obligation quote today.
The Lendo team made everything quick and easy.
They found me the best rate and settled my loan within 24 hours.
I would highly recommend Lendo to my friends.
Very friendly service and explained everything in an
easy to understand way.
The Lendo team got my motorbike loan approved within a day.
Very happy with the product and service. Would highly recommend.