Let's take a look at the range of insurances we can help you access.
Accidents, loss, and damage to motor vehicles do happen, even if you are careful. Motor Vehicle Insurance (MVI) can help cover the costs associated with unexpected events such as fire, theft, and collisions, whether it's your fault or not. You may also be covered for transport, accommodation, and towing costs.
MVI is compulsory if a vehicle is being used a security on your loan.
Motor vehicles do break down from time to time. While you don't expect it to happen to your car, protecting yourself against the cost of any repairs can offer peace of mind.
Mechanical Breakdown Insurance (MBI), also known as a Mechanical Warranty, can cover the reasonable costs of repairing or replacing the actual breakdown of mechanical or electrical components due to a sudden and unforeseen incident during everyday use (with some exceptions).
This insurance is optional. Policies are available for 12, 24, or 36 months and come with AA's roadside assistance.
When financing a new vehicle, you commit yourself to make loan repayments over an extended term. While you are making these repayments, your car is depreciating.
Because of this depreciation, if your vehicle is involved in an incident that results in a total loss, any insurance pay-out may not be enough to clear the balance of your loan.
Guaranteed Asset Protection Insurance (GAP) can cover any shortfall between what an insurance company pays out and what you owe on your loan. It also provides additional benefits such as covering the cost of any excess you had to pay.
This insurance is optional. Policies are available to cover shortfalls of up to $5,000 or $10,000.
Making your loan repayments on time is easy when you are working; however, making loan repayments on time may be more difficult if something prevents you from working.
Credit Contract Indemnity Insurance (CCI) can take the pressure off by covering the cost of your loan repayments in the event of redundancy, an accident or illness, or paying off your loan in full in the event of your death.
This insurance is optional, and the benefits of the policy are paid directly against your loan account.
Life doesn't always go according to plan. There is a range of circumstances that could stop you from working, leaving you without an income and the ability to meet your financial commitments.
Lifestyle Protection Insurance (LPI) can provide peace of mind by offering a fixed monthly benefit to cover your financial commitments in the event of redundancy, an accident or illness, or a lump-sum payment in the event of your death.
This insurance is optional, and fixed monthly benefits range from $100 to $1,500. These benefits are paid directly to you.
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Our Insurance Provider
All insurances offered through us are provided and underwritten by Quest Insurance Group Limited which has been issued a Financial Strength Rating of B (Fair) and an Issuers Credit Rating of bb+ (Fair), with the outlook on both ratings assigned to 'Stable'. These ratings were issued by A.M. Best.
A.M. Best’s Financial Strength Rating (FSR) Scale
- Rating CategoriesRating SymbolsRating Notches
* Each A.M. Best's Financial Strength Rating Category from "A+" to "C" includes a Rating Notch to reflect a gradation of financial strength within the category. A Rating Notch is expressed with either a second plus "+" or a minus ""
Are you looking for a little more help?
If you have purchased Credit Contract Indemnity Insurance (CCI) or Guaranteed Asset Protection Insurance (GAP) and you repay your loan in full early without making a claim, the insurance company will rebate a portion of the premium back to you.
The Credit Contracts and Consumer Finance Act (CCCFA) sets out the formula used when calculating this rebate as outlined below:
Refund = ( p × s × ( s + 1)) ÷ ( t × ( t + 1))
“p” is the Insurance premium.
“s” is the number of whole months in the unexpired portion of the period for which the Insurance policy was agreed to be provided.
“t” is the number of whole months for which the Insurance policy was agreed to be provided.
Yes. This policy is transferrable should the vehicle be sold privately provided the vehicle has been maintained and serviced in accordance with the requirements set out under the heading “Servicing Requirements” and provided the policy has remained free of any previous claims.
To make a transfer contact Quest Insurance directly on (0800) 800 783.
A transfer fee of $75 (inc GST) is payable upon acceptance of the transfer application.