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:
Gap Insurance does not cover you for:
Other exclusions apply. For full details, refer to the Product Disclosure Statement in the ‘What’s not covered’ section.
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;
You can purchase Finance Gap Insurance when you purchase your car. Your dealer will be able to help with the process.
|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|
Dealer Delivery fee
|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.
Get to know your Finance Gap Insurance better.
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.
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.
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.
Effective from 1 July 2021, please refer to this guide for information about how PowerTorque Insurance will handle any complaint that you may have.
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.
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 powertorquefinance.com.au 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).