Make Sure You’re Not Left Out of Pocket
If your vehicle is lost, stolen or damaged beyond repair, there are more costs to consider than just the price of your car.
Hiring a tow truck, making alternative transport arrangements, replacing all the personal items you left in your car… All of these are related expenses that people often forget about when taking out insurance.
If your car is considered a ‘Total Loss,’ total assist insurance helps to cover those out-of-pocket expenses you’d otherwise have to cover yourself.
What Does Total Assist Insurance Cover?
If you have a comprehensive insurance policy, generally your insurance provider will pay out the current market value of your vehicle if it is declared a ‘Total Loss.’ However, this payout does not cover out-of-pocket expenses incurred as a result of the loss of your vehicle.
Total assist insurance exists to fill in those holes left by ‘comprehensive’ insurance policies. If your vehicle is lost, stolen or damaged beyond repair, this type of insurance will cover you up to the value of $5,000 to save you forking out for:
- Personal items left in your car such as sunglasses and laptops
- Garage remote controls
- Stereos and CD stackers
- Navigation systems
- Tools of trade
Total assist can also help cover those costs incurred while you are waiting for a replacement vehicle, such as:
- Towing, taxis and alternate transport arrangements
- Stamp duty, registration, and compulsory 3rd party cover
- Insurance for your new vehicle
- Any insurance excess
- Dealer delivery for a new vehicle
Who Will Benefit from Total Assist Insurance?
Total assist insurance is different from other types of insurance in that it is only available with comprehensive insurance. Total assist exists to fill in the gaps left over after the market value of your vehicle has been covered.
In that sense, this type of insurance is recommended to vehicle owners who have an existing comprehensive insurance policy or intend to take out comprehensive insurance.
If you are already covered by comprehensive insurance, it could be beneficial to take to your insurer about adding Total Assist onto your existing policy. If you intend to take out a comprehensive insurance policy sometime in the future, it is advisable to talk to your insurer about covering yourself with Total Assist at the same time.
‘Total assist insurance exists to fill in the holes left by ‘comprehensive’ insurance policies.’
Depending on what expenses you want to protect yourself against, there are three levels of cover available:
- $3,000 of cover
- $4,000 of cover
- $5,000 of cover
When a once-off premium for total assist insurance could cover you for up to five years, why take the risk of paying those additional expenses out of pocket?
Summary
In most cases, comprehensive insurance will only cover the market value of your vehicle in the case of ‘Total Loss.’ However, if your car is lost, stolen or damaged beyond repair, there are an array of additional costs that you’d still be liable to cover on your own.
Replacing personal items and making alternative transport arrangements – not to mention the costs related to financing a replacement vehicle – all add up, and can leave you significantly out of pocket.
Total assist insurance helps to fill in any holes left by comprehensive insurance. Three levels of cover are available – up to $5,000 – to help relieve you of potential financial burden in case anything should happen to your vehicle.
For more information on total assist insurance or to get a free quote, call Rapid Finance on 1300 467 274