Motor Equity Insurance
Motor Equity Insurance (MEI) is a policy that offers cover when the payout on the loan contract exceeds the payout of your comprehensive insurance policy. Motor Equity Insurance pays the difference between the two.

To apply for Motor Equity Insurance, the Customer's vehicle must be subject to a loan contract, and must have comprehensive motor vehicle insurance.
What is covered by this policy?

Loan Settlement Cover
If a total loss payment is made in relation to your vehicle by the customer's comprehensive insurer we will pay your financier the difference between the total loss payment and the loan settlement amount subject to the cover chosen by the customer. Please refer to the Motor Equity Insurance Policy Document for specified limits, Rate charts and Underwriting Guidelines.

Extra Cover
If a total loss payment is made by an insurer in relation to the customer's vehicle, we will also pay the customer for the following extra expenses incurred on their replacement vehicle:
• Policy Excess (motor vehicle)
• Delivery charges
• Registration costs
• Compulsory third party insurance
• Stamp duty
• Up to 10 days car hire up to a maximum of $70.00 per day, but only if the car hire has been arranged by or approved by us.
The maximum aggregate amount we will pay under Extra Cover will be the amount shown against "Extras" for the Option Listed on the customer's schedule. Please refer to the Product Disclosure Statement for full details.