Drive with confidence protected by one of Australia's largest insurers
At Prosperity Smart Drive, we’ve partnered with one of Australia’s largest and most trusted insurers to provide comprehensive vehicle cover designed specifically for novated leases. Our policy gives you peace of mind knowing that your vehicle — and your financial position — are protected from the unexpected, every time you’re on the road.
What’s covered?
New‑Car Replacement
If your vehicle was purchased new and is less than three years old from its original registration to the date of claim, we’ll replace it with the same make and model (subject to availability) in the event of a total loss.
Full Lease Payout in the Event of Total Loss
If your vehicle is not able to be replaced, Vero will pay out your lease agreement to cover any gap between your lease payout and the vehicle market value, potentially saving you thousands.
Lifetime Guarantee on Repairs
All approved repairs under the policy carry a lifetime guarantee on materials and workmanship, so you can rest easy knowing future fault won’t cost you.
Third‑Party Legal Liability
If you’re found legally liable for damage to someone else’s vehicle or property, you’re covered for up to $50 million, helping protect your financial position.
Hire Car After Theft or Accident
If your vehicle is stolen or unable to drive as a result of an accident, we cover a rental car (up to a set limit) so your daily life keeps moving while your claim is handled.
Who is covered by this policy?
All licensed drivers are covered by the Vero policy without the need to specifically list individual drivers. Your premium does not change based on the driver of the vehicle, making it ideal for families or multiple drivers. Please note, while your premium is unaffected by the specific driver, your excess will vary if a young or inexperienced driver is driving at the time of the incident. Refer to your Policy Schedule for full excess details.
Windscreen Excess Waiver
No excess for your first windscreen, window glass, or sunroof damage only claim.
Other Practical Benefits
Cover includes lost keys or re‑coding locks, towing costs, loss or damage to personal property inside the vehicle, and emergency travel & accommodation when required.
Why choose Prosperity Smart Drive?
Our novated leasing specialists work with business owners and employees to deliver a seamless vehicle and cover solution.
With expert advice, you’ll understand how the insurance works alongside your salary‑packaged lease — so there are no surprises.
Backed by one of Australia’s leading insurers, you can trust that your vehicle protection is robust and supported.
Our team supports you throughout the claim process: from repair management, hire car arrangements, to lifetime repair guarantee.
Dedicated to helping you focus on business or life — not paperwork and worry.
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.