Helps cover any outstanding loan balance following a total loss

Cover for accident or theft

If your car is declared a total loss as a result of an accident or theft, we’ll help cover any gap between your insurance payout and outstanding loan balance, up to the limit of your cover.

Cover up to $30,000

Everyone is different, which is why we have cover options from $10,000 to $30,000 to suit your situation.

Cover for Insurance and Registration

The first 12-months registration, Comprehensive Car Insurance, and Compulsory Third Party (CTP) Insurance for the replacement car you purchase.

Car hire cover

If your car is declared a total loss, we’ll also cover up to seven days of car hire, up to a maximum of $60 per day.

Policy Features and Benefits

Here you’ll find the key things you need to know about our Finance Gap Insurance. Refer to the Product Disclosure Statement (PDS) and Supplementary Product Disclosure Statement for full details.

Cover option Outstanding loan balance Extra costs
1 Up to $30,000 Up to $4,000
2 Up to $15,000 Up to $4,000
3 Up to $10,000 Up to $2,000
4 Up to $10,000 Up to $1,000

Additionally, we’ll pay extra costs incurred as a result of replacing your vehicle which include:

  • Any excess paid under your Comprehensive Car Insurance as a result of the total loss.
  • Dealer delivery charges.
  • First 12 months registration, Comprehensive Car Insurance, and Compulsory Third Party Insurance.
  • Stamp duty.
  • Up to seven days car hire, limited to a maximum of $60 per day, but only if the car hire has been arranged or approved by us.
  • Your finance establishment fees up to $750 if your replacement car is financed with PowerTorque Finance.

Gap Insurance does not cover you for:

  • Any benefit where a total loss payment has not been paid in full by your comprehensive car insurance.
  • Any arrears or deferred payments, or amounts that have become due and payable and have not been paid, or associated penalty costs under your finance contract.
  • Any monies that are refundable or can be rebated from items that were financed under the finance contract.
  • Any additional costs, fees, charges or penalties for the early discharge or finalisation of the finance contract.

Other exclusions apply. For full details, refer to the Product Disclosure Statement in the ‘What’s not covered’ section.

How to buy

Are you eligible for Finance Gap Insurance?

First, check if you:

1) Have taken out a finance contract to buy a car;

2) Have purchased Comprehensive Car Insurance for the same car;

Speak to your dealer

You can purchase Finance Gap Insurance when you purchase your car. Your dealer will be able to help with the process.

Here's how Finance Gap Insurance works

  • You have cover option 2 with up to $15,000 cover for your outstanding loan balance and extra costs up to $4,000 . Your car is involved in an accident and is declared a total loss by your comprehensive car insurer. Your comprehensive car insurer pays the agreed value of $24,500 for your car. You’re also required to pay an excess of $600 to your comprehensive car insurer.
  • If the balance owing to your financier is $31,300, this leaves an outstanding loan balance of $6,800.
  • You finance your replacement car through Powertorque Finance, with a finance establishment fee of $500.
  • If the on-road costs associated with your replacement car amounted to $3,400 (including dealer delivery of $1,350, stamp duty of $1,500, registration fee of $270 and Compulsory Third Party of $280).
We'll pay your financier Amount
Outstanding loan balance (up to $15,000) $6,800
Total payment to your financier $6,800
We'll pay you (extra costs up to $4,000) Amount
Finance establishment fees (up to $750) $500
Extra costs*

  Policy excess

  Dealer Delivery fee


  Stamp Duty

  Compulsory CTP





Total extra costs (we pay up to $4,000) $4,000
Total payment to you $4,500

* Please refer to the definition of Extra Costs in the PDS.

The above is an example of how we pay a claim under a Finance Gap Insurance policy and is not a term or condition of the policy wording.

Important documents

Get to know your Finance Gap Insurance better.

Finance Gap Insurance Product Disclosure Statement

774 KB

Supplementary Disclosure Statement (SPDS)

This SPDS, dated 28 January 2021, updates and should be read in conjunction with the Finance GAP Insurance PDS and any other applicable SPDS we may have given you, for new policies commencing on or after 25 March 2021.

70 KB

Supplementary Product Disclosure Statement

This SPDS, dated 1 May 2019, updates and should be read in conjunction with the Finance Gap Insurance PDS and any other applicable SPDS we may have given you.

555 KB

Financial Services Guide | PowerTorque Finance Australia

39 KB

PowerTorque Insurance Product Governance Policy

PowerTorque 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.

67 KB

PowerTorque Insurance Complaints Guide

Effective from 1 July 2021, please refer to this guide for information about how PowerTorque Insurance will handle any complaint that you may have.

61 KB

Family and Domestic Violence Policy

PowerTorque 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.

89 KB

Let's get in touch

We're here to help you

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Insurance contact details


Claims or existing policy information: 1300 906 350
Mon-Fri 8:30am to 7:00pm AEST
Sat 9:00am to 4:00pm AEST

New policies: 137 800.
Mon-Fri 8:30am to 7:00pm AEST


PowerTorque Insurance,

PO Box 7212,

Melbourne VIC 3004


The information on this website is of a general nature and for information only. Nothing on this website constitutes or should be considered to constitute legal, taxation or financial advice. Before making a decision about any of the products and services featured on this website, you should consult with your own independent legal, taxation and financial advisors, who can advise you about your personal circumstances.

Terms and conditions apply. This advice is general in nature and does not take into account your objectives, financial situation or needs. Before making a decision to purchase any of the insurance products you should consider the appropriateness of the advice taking into account your own objectives, financial situation and needs and refer to the current PDS for the relevant product available from participating Dealers, via our website at or by calling 137 800.  PowerTorque Insurance is issued by Toyota Finance Australia Limited ABN 48 002 435 181, AFSL and Australian Credit Licence 392536. The insurer is Aioi Nissay Dowa Insurance Company Australia Pty Ltd ABN 11 132 524 282, AFSL 443540 (Adica).