Insurance - Our Insurance is also Smarter!
Credit One helps you be protected from the unexpected by arranging a variety of carefully selected insurance options from Australia's leading insurers.
Our specialists understand that every one of our customers is different, so we wanted to make it simpler for you to choose the options of cover best suited to your needs. Options include Comprehensive Car Insurance, Extensive Vehicle Warranty, Short Fall Insurance and Loan Protection Insurance.
Find out more by speaking to your Credit One consultant, call us on 1300 CREDIT (1300 273 348).
At Credit One we thrive on doing the hard work for you and provide competitive comprehensive car insurance options from some of Australia's leading insurers to help you find the best deal for your situation.
Comprehensive car insurance is usually a requirement when financing a vehicle and you must do this before delivery by transferring your current insurance or arranging new cover.
Comprehensive insurance gives you peace of mind that if the unfortunate should occur, you will be compensated for your loss. This generally includes coverage for accidents, fire and theft as well as any third party damage you may be legally liable to pay.
Comprehensive motor policies vary between each insurer and finding the best deal can be a time consuming and confusing exercise for the inexperienced.
Credit One arranges comprehensive motor vehicle insurance with some fantastic benefits, including:
- New car replacement after a total loss for vehicles up to three-years-old.
- Pay-by-the-month options.
- Choice of repairer.
- Lifetime guarantee on repairs while the vehicle is still owned or leased by you.
- Emergency assistance in the event of a claimable event if you are more than 100 kilometres from home.
- Cover for personal effects.
- Agreed or market value.
- Hire car following a theft.
We can arrange insurance with a range of optional covers and policy discounts including:
- Windscreen cover
- Hire car after an accident
- Protected no claims bonus / rating 1
- Variable excess options
- Multi-policy discounts
- Security discounts
- low kilometre discounts.
Credit One understands purchasing a vehicle is very important to you, and like any investment, it should be protected. Pre-planning means you can avoid potential costly expenses for major repairs.
Our consultants arrange extended warranties for new and used vehicles to ensure you can maintain peace of mind. Whether you buy a new or used vehicle, Credit One finds the most flexible and cost-effective packages to suit your needs.
How does it work?
Extended warranty is an extension of the manufacturer or statutory warranty, covering original components against mechanical failure, with the optional benefit of emergency accommodation,towing and a hire care. A good quality extended warranty is your insurance against the cost of potential future repairs and labour.
Extended warranty coverage can be arranged at the time of purchase when organising your car's finance and insurance cover, or at any stage while the manufacturer's warranty is valid. Your extended warranty begins when your manufacturer's warranty ends meaning there's no overlap. You only pay for the extension period.
As vehicles become increasingly complex, with sophisticated computer-assisted driving aids and high-performance engineering, repairs are less simple. Labour hours and costs of parts quickly mount for the simplest of tasks. A good quality extended warranty product will protect your vehicle's components from mechanical and electrical failure with only a minimal, or even zero excess payable.
What is covered?
Among other items, extended warranty coverage covers the following:
- Air conditioning and heating
- Engine cooling and fuel systems
- Anti-Lock brakes
- All electrical systems
- All engine management systems
- Torsion bars
- Engine mounts
- All lift gate, door and window mechanisms
Short fall insurance (gap insurance) protects you as a borrower by paying the shortfall amount owing to your credit provider or bank. This is important in the event of you having a total loss due to accident, theft or damage, and the amount received from your comprehensive insurer is inadequate to finalise the loan on your vehicle.
Such a gap exists because in most cases, you initially borrow more than the vehicle's market value (such as for registration cost, stamp duty, dealer delivery charges and comprehensive insurance) while the outstanding principal on your loan falls relatively slower than the value of your vehicle in the initial period of the loan's term.
You can only purchase gap insurance when you enter into a new finance contract at the time of a vehicle purchase and the vehicle must be comprehensively insured.
Benefits of shortfall insurance (gap insurance) include:
- Protecting your finances and credit rating in the event your vehicle is declared a total loss due to theft or accident.
- Gap insurance can be easily financed into most loans.
- You can purchase gap insurance independently from your current comprehensive insurer.
- Most gap insurance policies compensate you with an additional cash benefit.
At Credit One we know life doesn't always go to plan. Loan protection insurance is designed to make life easier in times of hardship. Based on the cover you select, loan protection insurance protects you against the risk of not being able to make loan repayments in the case of injury, illness, losing work or death.
Subject to policy benefit limits, a cash assist benefit will be paid to you. All other benefits under this insurance are paid to the financier shown on your policy schedule or as directed by the financier.
With your loan protection insurance you can protect the lifestyle you and your family love, knowing the loan won't become a financial burden when unexpected life events arise.
The features and benefits of loan protection insurances includes:
- Flexible policy terms.
- You choose the cover combination that suits you.
- You can bundle your premium into the amount you borrow.
- Loan protection insurance acts as a loan repayment cover.
- You are covered if you lose work due to sickness or an accident, are involuntarily unemployed or if you suffer medical trauma.
- In the event of your death, the life cover component of the policy will repay your outstanding loan balance.
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