Statewide Novated Leasing (SNL) aim to mitigate a client's risk with appropriate insurance strategies.
Through our agency agreement with Suncorp, we are able to provide competitive motor vehicle insurance products.
Comprehensive motor vehicle insurance for the novated lease period is mandatory.
Statewide examines each employee's individual circumstances and only recommends insurance that is necessary, fit-for-purpose and that has
value or potential value for that employee.
Statewide is licensed to provide general insurance product advice.
If comprehensive motor vehicle insurance is purchased for a new car that includes new-for-old cover with unlimited kilometres, and
insurance policy is held for the life of the lease, then there should be no need for GAP insurance.
GAP insurance pays a "gap" up to a pre-set amount in the event of a total vehicle write off payout amount and what an insurer has
determined as the value of the car. That is, it is designed to pay a difference, if any, to a pre-set amount.
Loan Protection insurance is designed to cover lease payments for loss-of-income situations such as death, temporary illness and
involuntary redundancy. Time and dollar limits apply.
If an employee has an employment contract with sick leave entitlements and superannuation income protection as part of their employment
superannuation, loan protection insurance requires greater investigation.