GAP Insurance provides a cost-effective way of protecting your investment.

GAP Insurance is designed to provide owners with a financed vehicle peace of mind in the event of a total loss due to accident, theft or damage beyond repair. GAP Insurance will pay the difference up to the cover benefit limit between the insured value of the vehicle and the remaining balance required to finalise the loan or lease, i.e. the GAP cover benefit amount owed to the credit provider.

GAP Insurance

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GAP Insurance Product Brochure

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Guaranteed Asset Protection (GAP) Insurance

AWN has a GAP Insurance product to suit your coverage requirements and budget.

Within the GAP cover benefit limit, the policy includes an extra cover benefit covering incidental out of pocket expenses which can be utilised even if there is no GAP. GAP Insurance provides a cost-effective way of protecting your investment - something comprehensive motor insurance alone may not do. GAP Insurance is only available when entering into a finance contract and the vehicle is comprehensively insured.

GAP Insurance Coverage Options

Coverage Options GAP Cover Benefit Limit Extra Cover Benefit Limit
Cover A $5,000 $1,000
Cover B $10,000 $2,000
Cover C $15,000 $3,000

This page is for information purposes only. For full Product Disclosure Statements and coverage details, please refer to the Terms, Conditions, Limitations and Exclusions of the Policy by contacting your local AWN Authorised Agent.

Claim Payment Example - Cover B

Outstanding Loan Balance $23,800
Vehicle Insurance Payout - $16,000
The GAP $7,800
Extra Cover Benefit (Insurers Excess, Dealer Delivery Fee, Stamp Duty, Registration & Third Party Insurance) + $2,000
Possible Out-of-Pocket Expense $9,800
GAP Coverage Covers - $9,800
You Pay $0