What is cash benefit insurance?
One of the best ways to explain cash benefit insurance is through a common scenario:
Consider that your vehicle is completely written off as a result of accident or theft. The cost of repair outweighs the value of the car so it is declared a total loss. You may find that, despite your car being comprehensively insured, the insurance payout will not cover all vehicle replacement costs.
Should you find yourself in this scenario cash benefit insurance would be your lifeline. The insurance company will pay the sum total of all outstanding vehicle replacement costs directly into your bank account. So whatever comprehensive insurance does not cover, cash benefit insurance will.
How can cash benefit insurance help me?
Financial peace of mind counts for a lot. So with cash benefit insurance, you can be rest assured that your vehicle replacement costs will be taken care of. Even if your comprehensive insurance falls short. The point of cash benefit insurance is to cover the complete cost of the car replacement.
Contact Natloans on 1300 955 791 to speak to one of our consultants about cash benefit insurance.
Benefits of cash benefit insurance
- Reduce the balance outstanding to your financier
- Provide additional deposit for a replacement vehicle
- Replace lost personal effects
- Upgrade to the next car model
- Pay comprehensive insurance excess
- Cover additional finance contract fees or charges
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