Car insurance is a must-have form of protection for both you and your car. As a driver-trusted business, Motor Co isn’t just a used car trader; we’re also passionate about your driving safety. That’s why we’ve partnered with Provident Insurance to provide a suite of mechanical breakdown insurance options, as well as NZ Roadside Assistance.
At Motor Co, we strongly recommend that our valued clients purchase an insurance plan for their cars before driving off the lot. We’ve also noticed how complex some insurance options can be. You might get a headache dealing with all the tables, numbers, and columns. Fortunately, we’d love to help. Below, we’ll explore five types of car insurance for Auckland drivers, to help you find the option that best suits your preferences and circumstances.
1. Mechanical Breakdown Insurance
Mechanical Breakdown Insurance, one of the most common insurance plans for New Zealand drivers, covers mechanical repairs and faults under reasonable circumstances. Should your car break down, you can seek help from NZ Roadside Assistance and rest easy knowing it will be covered. Accommodation and vehicle rental expenses caused by a breakdown can be covered as well if you’re looking for a place to stay or continue your trip.
2. GAP Cover
Guaranteed Asset Protection (GAP) Insurance Cover protects you from the risk of a total loss due to theft, catastrophic breakdown, or damage from an accident while you have payments outstanding on your finance contract. As many of you already know, there’s an unwritten rule in the second-hand market that depreciation starts the minute you drive your car off your lot. GAP Insurance helps you cover the gap between the depreciated amount of your car, in the event that it is written off as a total loss, and the amount you actually paid.
3. Credit Contract Indemnity
Credit Contract Indemnity (CCI), or Payment Protection Insurance (PPI), is the safest way to cover the loan payment obligation should you experience an event that disrupts your financial security. CCI is designed to help you avoid the worst-case scenario that a sudden change in your income or an emergency expense leaves you unable to make your car finance payment. The policy commonly provides financial protection in the event of death, terminal illness, accident illness, hospitalisation, permanent disability, redundancy, and bankruptcy. At Motor Co, we highly recommend that our clients carefully consider selecting a CCI plan to prevent any accidental scenario from threatening their financial future.
4. Motor Vehicle Insurance
In New Zealand, a car is an essential part of daily life. We have one of the most booming used car markets in the world but, compared to a brand-new car, a used vehicle has a higher risk of on-road accidents due to mechanical failure and older safety features. Motor Vehicle Insurance (MVI) covers damage that results from an accident, providing a wide range of benefits to get you back on road. We highly value our clients’ safety and driving experience, so if you have a limited budget to select your insurance plan, MVI is definitely your most economic choice to minimise your losses when a car accident happens.
5. 24/7 NZ Roadside Assistance
A breakdown is never convenient, but at the wrong time, it can be an all-out emergency. Fortunately, Motor Co provides an option for NZ Roadside Assistance, so you’ll have support anywhere in New Zealand, 24/7, 365. With a range of roadside packages, NZ Roadside Assistance helps you tailor your protection to suit your lifestyle and vehicle. Their nationwide network ensures help will never be far away.
Protect your used car from Motor Co
Here at Motor Co, we’ll work with you upfront to find the best vehicle insurance options to suit your vehicle, lifestyle, and financial situation, saving you time, hassle, and money. Before you buy a used car in NZ, feel free to reach out to us at our Penrose or East Tamaki locations if you have any questions or concerns about your car insurance. We’re always happy to help.