Asset Protection Insurance is designed to provide customers with protection if their asset is deemed a total loss by their comprehensive insurer. This coverage extends for 60 months, based on the policy running its full term and provides coverage to both financed and cash paid purchases of assets.
Following a valid claim, where the customers asset is declared a total loss by their comprehensive insurance provider, AWN Insurance will pay the difference, up to the sum insured shown on the customers Policy Schedule, between the total loss valuation of their asset and the purchase price of their asset or, if greater, the early settlement amount that the customer owes their finance company. AWN Insurance will pay up to the amount chosen by the customer and specified on the policy schedule.
Before purchasing a Asset Protection Insurance product, please ensure you read and understand the Product Disclosure Statement (PDS) and Target Market Determination (TMD). These documents contain all the information you need to make an informed decision about the suitability of the Asset Protection Insurance product for your needs.