Helping protect you from unexpected expense 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 Insurance 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 insurance payout and loan balance
If your vehicle is declared a total loss and your insurance payout doesn’t fully cover the outstanding finance amount, this cover pays the difference, up to the level you selected.
Cover levels to suit your vehicle
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 plus additional benefits.
- Support for the extra costs that come with replacing a written‑off vehicle.
- No excess payable on claims.
- 28‑day cooling‑off period.
The table below summarises the 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).
In connection with Add On Insurance products – Lease Protection, Total Loss Benefit & Financial GAP Assist – issued by ProRisk, Prosperity Smart Drive Pty Ltd Pty Ltd (Prosperity Smart Drive) (ABN 61 120 563 215) is a Distributor of Coverforce Insurance Broking Pty Ltd (ABN 11 118 883 542, AFSL 302522). 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 Coverforce Financial Services Guide and ProRisk Product Disclosure Statements. Target Market Determinations are also available.