Guaranteed Asset Protection Insurance
Affordable & practical additional cover in the event of your vehicle being declared a total loss.
Alphera Guaranteed Asset Protection Insurance can cover you up
to the limit chosen for the financial shortfall that may occur
if the comprehensive insurance payout does not cover the loan
balance still owing on your vehicle
– potentially thousands of dollars. The premium you pay can be
included in the loan if you wish. In the event that your vehicle
is a total loss (let’s say that you still owe $30,000 on the
finance borrowed, yet the
comprehensive motor vehicle insurance payout for the vehicle’s
market or agreed value is only $20,000), Alphera GAP Insurance
will cover you for the $10,000 shortfall and, depending on which
Extra Cover option you selected,
will pay an additional cash benefit to compensate you for any
inconvenience suffered.