News

Please notify us of any new vehicles you purchase

As you would be aware, with most new vehicle purchases, the Financier will require an insurance Certificate of Currency as proof that the vehicle is insured prior to releasing the funds to the vehicle dealer.

Through this requirement, we find out about new vehicles through the Finance Broker in a lot of instances, albeit we always check with you regarding the value you would like the vehicle insured for and when you would like it included from.

Alarmingly we have found recent examples where Financiers are not requiring Certificates for vehicles under a certain value, which in the most recent example was $100,000.  As a result of this, the Finance Brokers are not advising us of the new vehicles and they can be subsequently left uninsured until picked up as part of the standard renewal review conducted each year.

We would recommend that with each new vehicle purchase, that all clients make it part of the process to advise us of the new vehicle, in order that we can have it adequately insured.