Purchase Price Insurance
Purchase Price Insurance provides cover when the payout from the insured's comprehensive motor vehicle insurance policy for a total loss is less than the vehicle's purchase price.
To apply for Purchase Price Insurance, the customer's vehicle must be:
- Less than 5 years old; and
- Comprehensively insured.
Purchase Price Cover
If a total loss payment is made in relation to a policyholder's vehicle by their comprehensive insurer we will pay the difference between the purchase price of the vehicle and the combined total of the total loss payment and the excess, up to the maximum amount determined by the chosen level of cover.
Product Disclosure Statement
This website contains general advice only and does not take into account your individual objectives, financial situation or needs. Before acting on this advice you should assess whether it is appropriate for you. You should also consider the relevant Product Disclosure Statement (PDS) before making any decision about a product detailed on this website.
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