Helping protect you from unexpected debt if your vehicle is written off
If your vehicle is declared a total loss, your insurance payout may not fully clear what you still owe on your finance contract.
Financial Gap Assist is designed to help cover that shortfall and reduce the financial impact of replacing your vehicle.
What the Cover can help with
Helps with extra costs after a total loss
Depending on your level of cover, the policy may reimburse
expenses associated with replacing your vehicle, including:
- First 12 months’ registration
- Stamp duty
- CTP insurance
- Dealer delivery fees
- Comprehensive insurance premium
- Loan establishment fees for your replacement vehicle
- Insurance excess paid on your total-loss claim
This means less financial stress and fewer upfront expenses
after a loss.
Covers the "gap" between your payout and loan balance
If you have additional covers — including full GAP cover with another insurer.
This benefit is still paid in full, with no write‑backs or offsets.
Cover levels to suit your vehice
Financial Gap Assist offers six structured cover levels, based on your vehicle’s purchase price.
Benefits include:
$10,000–$35,000 toward your outstanding loan balance Guaranteed minimum payout of $5,000 Support for the extra costs that come with replacing a written‑off vehicle No excess payable on claims 28‑day cooling‑off period for peace of mind
THE TABLE BELOW SUMMARIES THE KEY BENEFITS OF EACH LEVEL OF COVER.
How to apply
Speak with a Prosperity Smart Drive adviser to confirm your eligibility and lease details.
Complete the online application form – we’ll guide you through the required information.
We’ll issue your certificate of insurance and you’ll be covered once your policy is active.
Keep your lease and insurance details together — it makes claim time simpler and faster.
Important Information
This information is general only and does not take into account your objectives, financial situation or needs. Before entering into any novated lease or insurance arrangement you should consider your own circumstances and seek professional advice. Conditions, exclusions and fees apply. For full details of the terms, limits and exclusions, refer to the Product Disclosure Statement (PDS).
Prosperity Smart Drive Pty Ltd Pty Ltd (Prosperity Smart Drive) (ABN 61 120 563 215) is an authorised representative (AR number 000304927) of BMS Risk Solutions Pty Ltd (BMS) (ABN 45161187980, AFSL 461594) in connection with the motor vehicle insurance only. The motor vehicle insurance is provided by AAI Limited trading as Vero Insurance (Vero) (ABN 48 005 297 807, AFSL 230859) and is issued under a binder arrangement with Vero. When acting under a binder BMS acts as agent for the insurer and not as your agent. This is general information only. It has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it. For full details of the terms, limits, conditions and exclusions and before making any decisions about whether to acquire or to continue to hold this product, please consider the Financial Services Guide and Vero Product Disclosure Statement. A Target Market Determination is also available.
^BMS is Prosperity Smart Drive’s Insurance Broker and manage the Vero Comprehensive Motor Insurance product.