Insurance

Welcome to MARAC Insurance

Please note that from mid-December, MARAC Insurance will begin providing insurance products through Autosure. Existing MARAC Insurance customer policies will not be affected.

Protect what matters most

No one likes to think about the unexpected, but with the right protection, worrying about the ‘what-ifs’ won’t keep you up at night.

We’ve designed our insurance specifically to suit our loan customers, so you can protect the things that matter most to you, ensuring that your lifestyle, and that of those you love, doesn’t have to be compromised. Enjoy peace of mind, knowing you have your chosen level of financial security if things do go wrong.

Lifestyle Protection Insurance

If you were to suddenly lose your ability to earn an income - through death, illness, accident or redundancy - how would life change for you or the people who are most important to you?

We offer protection that complements your financial decisions, so that you can relax and enjoy your new car or purchase. You simply choose the level of cover, how long you want to be covered for, and the monthly benefit you need to suit your individual situation.

Mechanical Breakdown Insurance*

Protects you in case of mechanical breakdown. We provide cover for a wide range of mechanical and electrical parts, and help cover other costs, including 24-hour AA roadside assistance.

Learn more about Mechanical Breakdown Insurance

Guaranteed Asset Protection Insurance (GAP)

For example, with $10,000 of GAP cover, if you owed $22,000 on your loan and your motor vehicle insurance claim payment was only $15,000, you would have a shortfall of $7,000 still to pay on your loan, which would be covered by the GAP insurance. Plus we will immediately pay you “out of pocket” expenses of up to $1000 – no receipts required!

Guaranteed Asset Protection Insurance (GAP) is designed to cover that difference.

That means that in conjunction with a comprehensive motor insurance policy, you could be covered for the full amount of your loan - not just the value of the car.

You can select either $5,000 or $10,000 cover. For example, with $10,000 of GAP cover, if you owed $22,000 on your loan and your motor vehicle insurance claim payment was only $15,000, you would have a shortfall of $7,000 still to pay on your loan, which would be covered by the GAP insurance.

Plus we will immediately pay your “out of pocket” expenses of up to $1000 – with no receipts required.

Motor Vehicle Insurance**

Don’t take any risks when you’re on the road. With Motor Vehicle Insurance you’ll ensure that in the event of an accident, you have the right level of protection to cover damages to your car and also any damages you may cause to someone else's car or property. This policy includes no-excess cover for broken glass, cover for lost or stolen keys, alternative transport or accommodation, and personal injury. It also covers your car when in use by you or anyone with your consent, and can include hire vehicles.

Get covered

Arranging insurance is easy.

You’re welcome to give us a call on 0800 85 30 30 and talk to the new loan team to have a chat about the best insurance options for you.

Insurance is also available through a MARAC insurance-authorised motor vehicle dealer who can organise insurance on-the-spot for you at their dealership.

Still have a few questions?

Check out our FAQ's. If your question isn’t there, get in touch via email or call us on 0800 45 10 10.

Lifestyle Protection Insurance and Guaranteed Asset Protection are provided and underwritten by MARAC Insurance Ltd.
For Rating and Solvency information click here.

*Mechanical Breakdown Insurance is provided by MARAC Insurance Ltd and underwritten by DPL Insurance Ltd.
For Rating and Solvency information for DPL Insurance Ltd click here.

**Motor Vehicle Insurance is arranged by Monument Insurance (NZ) Limited (a related company of the Crombie Lockwood Group), and underwritten by IAG New Zealand Ltd.
For Rating and Solvency information for IAG New Zealand Ltd click here.