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Lease Protection Insurance

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In times of uncertainty, we’ve got you covered

Lease Protection Insurance is an insurance policy for Fleetcare Novated Lease customers to assist with vehicle lease repayments in the event a customer is made involuntarily redundant, sick or injured, and unable to meet financial obligations.
While none of us want to think about the misfortunes that could happen in the future, it’s best to be prepared for the unexpected. Lease Protection Insurance ensures there is no financial burden on top of other worries, letting you focus on more pressing matters.

Why Lease Protection Insurance?

Peace of mind

In the event that you are made involuntarily redundant, sick or injured, Lease Protection Insurance gives you peace of mind. Your finance payments will be covered, and an amount will be provided to cover the running costs of your vehicle for a specified period of time.

Vehicle Hand Back Option

Where you do not see yourself returning to employment in the foreseeable future, you can simply hand the vehicle back to Fleetcare where we’ll sell the vehicle on. If there is a shortfall on the payout amount, Lease Protection Insurance will cover the difference.

Cover when you need it most

Lease Protection Insurance FAQs

I have been made involuntarily redundant. Can I make a claim on my Lease Protection Insurance?

Yes, Lease Protection Insurance covers you in the event you are made involuntarily redundant as long as you meet eligibility criteria.

Due to sickness or injury, I am unable to work. Can I claim on my Lease Protection Insurance?

Yes, Lease Protection Insurance covers you in the event you are sick or injured as long as long as you meet eligibility criteria.

I have been put on reduce hours and/or income, and I am finding it difficult to meet my finance obligations. Can I make a claim on my Lease Protection Insurance?

Lease Protection Insurance can only be claimed in the event you are made involuntarily redundant, sick or injured. It does not cover you for loss of income. If you are unable to meet payment obligations, speak to your Novated Account Manager about your options.

I have been stood down. Can I make a claim on my Lease Protection Insurance?

No. Lease Protection Insurance cannot be claimed as you are still employed during a stand down period.

I have lost my job and don’t have Lease Protection Insurance. What happens to my Novated Lease?

A novated lease is a three-way agreement between you, your employer, and Fleetcare. As you are no longer employed, the Novated Lease will need to transfer to a finance lease. Speak to your Novated Account Manager about your options.

I already have a Fleetcare Novated Lease. Can I add Lease Protection Insurance to my agreement?

Unfortunately, our Lease Protection Insurance policy can only be purchased and included in your lease at the commencement of the lease. You may however, be able to source additional external cover, separate to your lease.

How much am I covered for with Lease Protection Insurance?

Lease Protection Insurance covers both lease payments and running costs. Running costs are covered for $400 per month.

In the event you are made involuntarily redundant (including redundancy due to COVID-19), your lease payments and running costs will be covered for 10 months. In addition, you’ll have the ability to hand the vehicle back after 3 months.

In the event you fall ill or have an accident and are unable to work (including sickness and illness due to COVID-19), your lease payments and running costs will be covered for 18 months. In addition, you’ll have the ability to hand the vehicle back after 12 months.

Want to know more about Lease Protection Insurance?

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Disclaimer: Lease Protection Insurance is issued by Professional Risk Underwriting Pty Ltd ABN 80 103 953 073 (ProRisk). The information does not take into account your personal financial circumstances. You can obtain the relevant PDS by contacting Fleetcare on 134 333 or from ProRisk.