Comprehensive Vehicle Insurance:
A vehicle subject to a lease must be comprehensively insured at all times. You may choose to arrange your own comprehensive motor vehicle insurance or you can have Enlist take care of it for you.
Our comprehensive motor vehicle insurance is specifically tailored for the Novated Lease product and includes many additional features and benefits not included in traditional consumer insurance products.
Call us to find out more.
Lease Protection Insurance:
Lease Protection Insurance (LPI) is an optional cover and well worth considering. This product is designed to help cover the financial commitment of a lease in the event of involuntary redundancy, expatriation or accidental death. It is inexpensive and gives you peace of mind.
To qualify for LPI cover you must meet the following criteria:
- Australian citizen;
- Aged between 18 and 60;
- Not be self employed (i.e. contractors do not qualify); and
- Engaged in prior permanent employment for a continuous period of at least 12 months.
GAP Insurance is an optional cover which is also well worth considering. This product provides an extra $15,000 cover in the event of total loss where comprehensive motor insurance may leave you out of pocket for the difference between lease payout value and the vehicle’s market value.
Just like LPI cover, this product is inexpensive and gives peace of mind that you will never be out of pocket in event your vehicle is written-off or stolen. GAP even pays the cost of the new comprehensive insurance premium for the replacement vehicle.