Should you suffer total loss of your bike through an accident, hi-jacking or theft, there is a possibility that you will also suffer a shortfall between your comprehensive insurance payout and the settlement amount of your finance agreement, Adcover will help bridge this gap.
What is a Bike Adcover policy?
If your motorcycle is financed and you happen to have the unfortunate experience of it being stolen or damaged beyond economical repair in an accident, you may possibly also suffer the financial burden of having to pay a shortfall due to the insurance company pay-out being less than the outstanding finance amount.
Our Adcover policy for bikes will cover you for these unexpected times. This shortfall amount will be paid to the financial institution as well as a portion of your excess will be covered.
What are the benefits of an Adcover policy for motorbikes?
- The policy premiums are debited from your nominated bank account monthly, so there are no big upfront payments required.
- A portion of your insurance excess is covered by the policy.
- The policy can be cancelled immediately if you sell the motorcycle or trade it in.
- The shortfall amount between your comprehensive insurance pay-out and the settlement amount on your finance agreement is covered by this policy, excluding any excesses.
- If your Comprehensive Insurance company rejects your claim due to your unintentional failure to comply with a policy condition, then the insurer will look at the merits of the rejection and possibly pay the claim.
- If you skip a payment on your comprehensive insurance cover and your insurer rejects your claim based on this reason, then the Adcover policy will pay your claim, as per terms and conditions.
What are the conditions of a bike Adcover policy?
- If the motorcycle is being used for racing and driving instruction for reward, it will not be covered.
- If the motorcycle is carrying more weight than for which it was designed, it will not be covered.
- The policy does not cover you for any damage to the motorcycle from whatever cause.
*please refer to the terms and conditions of this policy.
GET ADCOVER FOR YOUR BIKE!
Please note that the following is for information purposes only. For a full description of prices, benefits and exclusions please fill in your contact details in the form above and a LiquidCapital consultant will phone you back.
Click here to refer to full terms and conditions that apply to Adcover Policy.