Motorbike Equity Insurance (GAP Insurance)

Equity Insurance is designed to cover any shortfall you may be require to pay your financier where your motorbike is stolen or written off and the Total Loss Payment made by your comprehensive insurer is insufficient to pay out the balance of your loan agreement.

Furthermore, where your comprehensive insurer makes a Total Loss Payment, motorbike equity insurance covers the following 'Extra Expenses' relating to replacement of your motorbike:

  • The relevant comprehensive insurance excess paid on your motorbike;
  • Delivery charges, Compulsory Third Party Insurance, registration and stamp duty costs on your new replacement vehicle;
  • Hire car costs (up to 10 days at a maximum of $70.00 per day).
There are 5 levels of cover available so you can choose an insurance package tailored to meet your needs and budget.


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You should carefully read the Product Disclosure Statement because it will help you make an informed decision about whether the policy meets your needs and provides the cover desired.

Financial Services Guide
You should read Southgate Financial Services' Financial Services Guide (FSG) because it contains important information about our authority to sell insurance products on behalf of the insurer.

 

 

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