Payment Protection Insurance
The main risk with having finance for a car, is if something happens to your ability to earn money.
You might then find it difficult to manage financially. So we’ve designed our policy to help protect you, your family and your budget if the worst happens.
What is PPI?
Autosure Payment Protection Insurance (PPI) protects you for the repayment of your loan obligations to the financier if you suffer an insured event. The benefits are payable directly to the financier and the policy cover options are specific to your source of income at the time of entering into a credit contract.
Insured Events
Employee
Self Employed
Everyday Essential
Death, Terminal Illness, Accident, Illness, Disability, Hospitalisation, Carer, Redundancy, Suspension,
Employer Ceases Trading
Death, Terminal Illness, Accident, Illness, Disability, Hospitalisation, Carer, Business Interruption
Death, Terminal Illness, Hospitalisation, Permanent
Disability
Maximum loan amount – $200,000. Maximum loan term – 84 months. Policy terms must end before the insured’s 70th birthday.
Insured Events
Key Benefits of Autosure Payment Protection Insurance
- No medical examination is required
- Redundancy benefit of up to 12 months
- Protects your household income for other purposes and your credit rating
Important information
- ACC: Only covers accidents, but we can protect you against many different events
- Claim payments: We pay directly to your finance company
- Exclusions: See the policy wording What You Are Not Insured For section
- Cancellations: Cancel within the first 15 days for a refund, if you haven’t claimed. Additionally you can cancel and get a partial refund, if you repay your loan early or no longer need the cover
This is a summary only. See the policy wording for full terms, conditions, exclusions, limits and benefits.
Why choose Autosure for Payment Protection Insurance?
Autosure has been helping New Zealanders protect their cars and their savings from the cost of unexpected breakdowns for decades. As a leading insurance company in the loan payment protection insurance industry, we strive to bring our customers the best products with the best benefits, so you can have confidence for the road ahead.
“It was so easy and straight forward when I needed my car loan payments made for a few months. They knew what I was going through and wanted to do. I’d say use them.”
June T
Policy Document
This is our current policy wording – please contact us if you would like a copy of a previous policy document or schedule.
FAQs about payment protection insurance NZ
PPI helps keep you in control of your loan when life doesn’t go to plan.
Depending on your cover type – Employee, Self‑Employed or Everyday Essential – PPI can help repay your loan if you experience events such as death, terminal illness, accident, illness, disability, hospitalisation, becoming a carer, redundancy, suspension, or your employer ceasing trading.
For self‑employed people, cover also includes business interruption.
Your policy schedule outlines exactly which benefits apply to you.
PPI is available for customers with a vehicle loan who meet the criteria for one of three cover types:
- Employee – for people in full‑time permanent employment
- Self‑Employed – for those running their own business
- Everyday Essential – for customers who don’t meet the above categories
Your cover continues until the end date on your policy schedule or until your 70th birthday, whichever comes first.
You don’t need a medical examination to apply, and your policy pays your benefits directly to your financier.
While PPI provides broad protection, there are some exclusions.
You won’t be covered for claims related to alcohol or drug use, criminal acts, elective procedures, hazardous activities, natural disasters, pandemics, parental leave, pregnancy‑related events or pre‑existing conditions.
Redundancy and employer‑ceasing‑trading claims are excluded if you are self‑employed, working on a temporary or seasonal basis or have accepted voluntary redundancy.
The policy wording outlines the full list of exclusions.
Autosure Payment Protection Insurance is designed to support you for as long as you genuinely need it – within the limits of your policy.
Depending on your insured event, PPI can cover your monthly loan repayments on a daily basis until you recover, return to work, or reach the maximum claim period.
For example, repayments may continue until you are no longer certified as disabled, hospitalised or acting as a carer, or until you reach event‑specific limits such as 185 days for hospitalisation or carer support, 365 days for redundancy, or the end of your policy period.
Claim payments are made directly to your financier to keep your loan on track.
Yes, you have a 15‑day free look period where you can cancel for a full refund if you haven’t made a claim.
After that, you can cancel anytime with 10 days’ written notice, and a refund of unused premium will be issued (paid to your financier if your premium was added to your loan).
If your premium was added to your loan, refunds are made directly to your lender.
These policies are underwritten by Autosure Insurance Limited. Find out more about Autosure’s financial strength rating.
Autosure Insurance Limited is a member of the Financial Services Federation. Find out about their Responsible Credit-Related Insurance Code.