FINANCE GAP INSURANCE
Finance Gap Insurance helps protect you from financial loss if your vehicle is stolen or damaged beyond repair.
Depending on the cover option, it provides you with up to $30,000 to cover the "gap" between the amount your comprehensive insurer pays you and the outstanding loan balance gap of your vehicle finance contract.
It also provides up to $4,000 (depending on the cover chosen) for additional expenses associated with your purchase of a replacement vehicle.
A simple one-off premium can be included in the total amount being financed to protect you for the duration of your finance contract.
- Outstanding loan balance:
- Option 1: Up to $30,000
- Option 2: Up to $15,000
- Option 3: Up to $10,000
- Option 4: Up to $10,000
Out-of-pocket expenses to cover additional costs that you are likely to incur. These could include on-road costs:
- Option 1: Up to $4,000
- Option 2: Up to $4,000
- Option 3: Up to $2,000
- Option 4: Up to $1,000
- Lexus Finance Gap Insurance Policy and Product Disclosure Statement
- Supplementary Product Disclosure Statement (SPDS) This SPDS, dated 28th January 2021, updates and should be read in conjunction with the Lexus Finance Gap Insurance Policy and Product Disclosure Statement any other applicable SPDS we may have given you, for new policies commencing on or after 25th March, 2021.
- Supplementary Product Disclosure Statement (SPDS) This SPDS, dated 1 May 2019, updates and should be read in conjunction with the Lexus Finance Gap Insurance Policy and Product Disclosure Statement and any other applicable SPDS we may have given you.
- Lexus Insurance Financial Services Guide
- Lexus Insurance Family and Domestic Violence Policy. Lexus Insurance recognises that Family and Domestic Violence is a serious issue that may be affecting our customers and we are strongly committed to supporting them. This policy sets out how we will support those affected by Family and Domestic Violence.
- Lexus Insurance Product Governance. Lexus Insurance is committed to providing our customers with products that are suitable for their needs and meet their expectations. This policy outlines how we respond to customer needs and expectations in our approach to the design, distribution and regular review of our products.
- Lexus Insurance Complaints Guide. Effective from 1 July 2021, please refer to this guide for information about how Lexus Insurance will handle any complaint that you may have.
FREQUENTLY ASKED QUESTIONS
WHAT TYPES OF INSURANCE ARE AVAILABLE FROM LEXUS FINANCIAL SERVICES?
Comprehensive Motor Vehicle Insurance
Imagine the inconvenience of being without your vehicle. Could you afford costly repairs, or to replace your vehicle altogether? Our Comprehensive Motor Vehicle policy includes cover for accidental loss, damage and liability for property damage, providing peace of mind motoring and confidence throughout your Lexus ownership. For further details on the insurance options available for your Lexus, visit the Motor Vehicle Insurance section of the Lexus website,email us, or call 1300 888 840 for more information.
Finance Gap Insurance
If you've financed your vehicle and it is written off as a result of an accident or theft, there may be a 'gap' between the amount your motor vehicle insurer pays you and the outstanding balance on your vehicle finance contract. In this situation, Finance Gap Insurance helps to protect you from experiencing significant financial loss and personal inconvenience and also provides cover for extra costs associated with your purchase of a replacement vehicleFor further details on the features and benefits visit the Finance Gap Insurance section of the Lexus website, email us or call 1300 888 840 for more information.
Finance Protection Insurance
It's always better to have options, no matter what your circumstance. So if you're unable to work due to serious illness, accidental injury, or following involuntary redundancy, our Finance Protection Insurance policy provides cover for your car loan repayments for up to six months, subject to the maximum cover amount you've chosen. For further details on the features and benefits visit the Finance Protection Insurance section of the Lexus website, email us, or call 1300 888 840 for more information.
Extended Warranty Insurance
Factory Approved Extended Warranty Insurance offers you protection that continues beyond your Lexus new vehicle warranty cover. You can take out this policy on vehicles up to 3 years old that have travelled less than 90,000km. . For further details on the features and benefits visit the Warranty Insurance section of the Lexus website, email us or call 1300 888 840 for more information.
HOW CAN I PURCHASE LEXUS FINANCIAL SERVICES INSURANCE PRODUCTS?
HOW DO I MAKE AN INSURANCE CLAIM?
For Factory Approved Extended Warranty Insurance and Extended Warranty Insurance claims you will need to contact the Administrator and advise them that you wish to make a claim. A claim form can be obtained by emailing the Administrator or calling 1300 888 840.