Vehicle equity

If your car is stolen or damaged beyond repair, often your comprehensive insurance provider does not provide you with a payout that will cover your entire loan balance.

The market value of your car generally reduces at a faster rate than your loan balance which may leave you with a big gap to pay before you can buy your new vehicle. LFI Vehicle Equity Insurance is available to customers with comprehensive motor insurance at the time of arranging car finance. You can also elect to receive a lump sum benefit in the event your vehicle is written off, even if there is no shortfall. Click for the full Product Disclosure Statement or to view the Quick Facts Sheet or to view the Target Market Determination.

Key features

Replacement cover to reimburse you for out-of-pocket expenses associated with your claim

Lump sum payment even if you have a total loss claim with no outstanding loan balance

Product options

Option 1 $20,000 shortfall cover, $5,000 Replacement cover
Option 2 $15,000 shortfall cover, $4,000 Replacement cover
Option 3 $7,500 shortfall cover, $3,000 Replacement cover
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Copyright © 2021 All Rights Reserved | Insurance cover provided is subject to policy terms and conditions. LFI Group Pty Ltd | ABN 31 138 903 581 | AFSL 413613 (LFI). LFI is the issuer of LFI Loan Protection Insurance, LFI Vehicle Equity Insurance and LFI Mortgage Protection Insurance. LFI acts under its own AFSL and under an agreement with the insurance product issuer, Insurance Australia Limited (IAL) ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance. For more information, see our Financial Services Guide (FSG). All advice on this site is general only and may not suit your particular circumstances, objectives, financial situation or needs. Before purchasing consider your personal circumstances and objectives and the relevant Product Disclosure Statement available on this website or by calling 1300 888 318.