Also known as Consumer Credit Insurance. This cover will pay your boat loan repayments if you cannot work due to sickness, injury or disease, or if you become involuntarily unemployed. The policy may also include life cover.
- Cover is available for joint owners/applicants.
- Financed as part of your loan, and may only be an extra few dollars per week.
- Covers the whole term of the loan.
Any claim under this cover will be paid in addition to any of your sick leave or compensation entitlements, and gives protection to your family or loan guarantor rather than passing the burden of debt.