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Unless you've paid cash for your car, we recommend you carry Stop Loss Insurance
in addition to the Comprehensive policy.
Why? It's sad but true - as soon as you purchase a car, its value usually decreases.
So if it gets written off, the insurance payout could be a whole lot less than what
you've got left owing on the finance. This means you'll still be paying off a car
that you can’t drive or no longer have. And that is a significant downer.
Stop Loss will pay the difference between the insurance payout and what is left
owing on your car's finance to a maximum of $10,000. So for example, if you still
owe $12,500 on your car, but it only has a market value of $6,500, the addition
of this policy would see a payout of the market value of $6,500 under your Comprehensive
Insurance policy, plus the $6,000 difference under the Stop Loss Insurance policy.
There are three levels of cover
| Gold |
Silver |
Bronze |
Up to $10,000 cover PLUS $2,500 of extras
(see below) |
Up to $10,000 cover PLUS $1,000 of extras
(see below) |
Up to $10,000 cover only |
Extras for Gold and Silver cover only:
- Policy excess replacement
- Replacement vehicle registration costs
- Replacement vehicle delivery costs
- Replacement vehicle insurance costs
- Rental vehicle
- Deposit on a replacement vehicle
Like to know more?
Download our
full policy here
“Drive a modified car and you’re young and most companies
don’t want to know you. The guy at Pioneer knew what he was about and signed me
up immediately.”
Derek Trimble, 18 from New Plymouth