Loans Unlimited has a network of insurers that offer a wide variety of insurance products. Choose from Westpac, ANZ, Liberty, Pepper Money, and more! Not sure which is the best for you and your situation? Give us a call, and our friendly representative will guide you through the process.

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Why You

Need Insurance

Insurance products offer different benefits, but they are all useful in protecting you against certain issues. For example, if you were ever unemployed suddenly or had to stop working due to an injury, you may wonder who will pay for your loans. Making repayments is the last thing you want to worry about in these circumstances. Luckily, having the right insurance can cover the remaining loan balance you may have.

Another benefit is if you had a car breakdown, especially on the road. Mechanical failures are not exactly cheap, so how are you going to pay for the repair? It is a good thing that you can turn to the appropriate insurance that can get you out of this financial hardship in no time.

How to Find the

Right Insurance Product

Before you apply for insurance, be sure that you know your available options. Take a look below:
 
  • When you want to be covered for any vehicle loss or damage, choose comprehensive motor vehicle insurance.
  • If your vehicle is declared a complete loss, be protected against any shortfall in funds. What you need is a GAP or shortfall insurance covering the funds between a payout for your insurance and your loan.
  • Vehicles are just like any other product. They are at risk of failure, particularly their engine and transmission. When a breakdown happens, be sure you are covered with the help of mechanical breakdown insurance. You can use the coverage not just for cars but also for any type of vehicles, such as boats, caravans, and trucks.
  • Life can have unexpected twists and at some point, you may be unable to make your repayments. This could be due to unemployment or sickness, and this is where Consumer Credit Insurance (CCI) can help. In an event such as these, CCI is a way to have your repayments covered.

Sometimes, you need more than just vehicle-related insurance. If you get sick or injured and cannot pay for your loans, choose loan protection insurance. This type of insurance is not just for individuals. If you run a business, you also require specific coverage in case of unfortunate circumstances. Opt for business loan protection insurance to get assistance in repaying the commercial mortgage and other business loans.

Note: 

Before choosing the insurance product, read your Product Disclosure Statements (PDS) and Financial Services Guides (FSG). These documents will give you the necessary information about the financial service and product. They will help itemise what and what’s not covered.

Insurance FAQs

Your car is covered based on its current market value, which pertains to the amount the market would pay for the vehicle. The term car applies to the car itself, along with the keys and accessories that come with it. If modifications are fitted, they are included in the cover, as well. The age, make, and model of the car are among the important factors that impact your insurance cover.

We will let you know the agreed value for your vehicle. Be aware that cars depreciate yearly, which means the insured amount may reduce every time you renew your insurance.

Loans Unlimited strives to provide the best value for the customers by offering affordable premiums for our car insurance. That said, we know that people continue to look for cheap insurance costs while getting the right cover for their situation.

Lowering your insurance costs is possible by choosing the insurance that meets your needs. If you have a good driving record (no accidents or traffic violations), your premium will be lower than those with serious offences. Experienced drivers with an established insurance track record also pay lower premiums than new drivers. Get a quote to know your possible insurance costs with us.

A total loss is a devastating event. But don’t worry; we’ve got you covered. The type of insurance you have will tell you if you are eligible for vehicle replacement. Comprehensive car insurance covers total loss or irreparable damage so that you will get a new car, usually with the same make and model. The maximum amount for the replacement will depend on the agreed value.

Other types of insurance that support new vehicle replacement are trailer, caravan, and motorcycle insurance. We will determine if the car is indeed a total loss first and make sure you meet our criteria for a vehicle replacement cover.

We want to make the process easy for you. That’s why we recommend that you contact us directly. Provide as much information as possible, including your policy type and number, personal details, and the incident, so that we can quickly settle. When describing the incident for the claim, be as thorough as you can. Include the date, complete address, and other parties involved.

You will receive a claim number for your reference to the claim. If you have not heard from us, you may enquire again using the claim number. We aim to process claims as quickly as possible. However, it may take a while if your claim is complex.

Excess payments will depend on the circumstances of your claim. Typically, if you are not at fault in a motor accident, for example, you will not have to pay for the excess. We may require you to provide the third party’s name, contact details, and vehicle registration number.

On the other hand, if you are at fault or responsible for the incident, the excess is applied. This particular excess amount is specified in your policy. We will immediately advise you when and how to pay the excess.

At Loans Unlimited, we always aim to meet the requirements and exceed the expectations of our customers. However, if you are unhappy with the progress or our decision for your claim, we have a straightforward system for dispute resolution. First, we encourage you to contact us and tell us about the purpose of your call. We will make sure to respond to your complaint as best we can. If you’re still dissatisfied, you can request a review of our decision.

How We

Can Help

Loans Unlimited makes it easy for you to search for and choose an insurer. Insurance products are among the must-haves of any individual and business. However, many Australians still do not understand why they should get insured. Our experts are available to talk to if you are unsure of which product to go for. We will also explain to you how you can benefit from them.

Insurance can provide financial security, not just for you but for your family as well. It is a product, when carefully chosen, will assist you during a great need. Get started today and call 1300 212 200 for expert guidance.

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