Bee Finance strongly recommends that clients insure the risk in the event that they are unable to make loan repayments.

Comprehensive Motor Vehicle Insurance

Most finance companies will not fund a vehicle unless it is fully insured and remains insured throughout the period of the loan. Clients can either arrange their own insurance, or alternatively, Bee Finance can arrange cover through Go Cover Insurance.

Click here to find out more about Comprehensive Motor Vehicle Insurance.

Loan Protection Insurance (also known as Credit Contract Indemnity Insurance)

In the unfortunate instance where you are unable to make the repayments on your loan, LPI steps in and makes the payments for you until you can start making repayments. LPI can cover you for sickness, injury, death or redundancy.

Loan Protection Insurance can be included in the finance of your loan and covers all the repayments. Loan Protection Insurance is valid for the full term of the loan. Any payments that LPI makes in the event of your claim are made over and above any other insurance payments that you may have in place. This protects your family or loan guarantor from any debt that may be unexpected as a result of sickness, injury, death or redundancy.

Click here to find out more about Loan Protection Insurance.

GAP - Guaranteed Asset Protection

GAP (Guaranteed Asset Protection) is insurance that provides cover in the event that your vehicle has written off, stolen, or beyond repair. If this happens your insurer will pay the “market value” or "Agreed Value" of the car, however in many cases paid-out value may not be enough to cover the finance liability and you will still end up owing money on the car. This is where GAP insurance comes in.

Click here to find out more about Guaranteed Asset Protection.

Mechanical Breakdown Insurance

Bee Finance can offer Mechanical Breakdown Insurance (MBI) – sometimes referred to as an extended warranty. MBI insures against most mechanical and electrical faults and breakdowns with your vehicle.

In the event of a mechanical or electrical breakdown, MBI will cover the repair or replacement of the faulty part, provided the cover is within the scope of the policy.

Bee Finance offers Mechanical Breakdown Insurance (MBI) through Janssen Coverplus Warranty.

Bee Finance can also fund Mechanical Breakdown Insurance on a weekly basis. Click here to Contact Us for more details.