• Automotive Insurance

    Protecting your asset is important to us

It doesn’t cost anything to explore your vehicle insurance options, and if it’s options you’re looking for then you’ve come to the right place. Our team of experienced in-house insurance specialists are here to ensure your new vehicle is insured from the moment you sign on the dotted line. With a huge range of providers accessible through the Miles Group, rest assured knowing we can establish insurance coverage that suits your lifestyle. Read more about different ways we can insure your new vehicle. 

Continue reading to discover more abut Miles Group’s insurance providers, learn more about vehicle insurance, or make an enquiry.

Quick, Flexible, and Specialist Insurance Options

Quick – The motor vehicle industry is busy and we’re accustomed to constant changes, which gives us the ability to think fast and get the job done quickly.  Constant communications with distributor and third party providers allows us to establish competitive insurance quotations, fast.

Flexible – With relationships among 18 vehicle brands and many third party providers, the Miles Group can act as a super broker for your next vehicle insurance cover. Let us know how you would like to do business and our specialists will do their best to make this happen.

Specialist – Being the official representatives of 18 motor vehicle brands, Miles Group is likely to produce a manufacturer-specific insurance solution for your new vehicle. No matter the make or model, our specialist insurance representatives will be sure to share with you the benefits of insuring your new asset with dedicated vehicle industry lenders.

Discuss your options today. Speak to our team by submitting an enquiry below. Please note that when considering any insurance option we recommend that you seek independent insurance and/or legal advice. All rates and fees for any associate lenders are available upon request.

Porsche in a showroom

Guaranteed Asset Protection:

A Guaranteed Asset Protection policy, also known as GAP, covers some of the difference (the gap) between a total loss payout on your vehicle by your comprehensive insurer and the balance owing under your credit contract. This is called a loan equity shortfall.

GAP can only be purchased in conjunction with a credit contract (view our finance options), and in the event of a total loss that credit contract must still be active.

  • The vehicle must be comprehensively insured.
  • The contract is for a maximum of 60 months, or the length of the original credit contact.
  • Can only be taken out at the time of vehicle sale.

Additional GAP benefits include:

  • Comprehensive Motor Vehicle insurance premium in relation to the replacement vehicle.
  • Any Excess in relation to the total loss vehicle.
  • On Road Costs comprising of dealer delivery and registration related to the purchase of the replacement vehicle.
  • Deposit for a replacement vehicle up to $1000.
  • Reimbursement for out of pocket expenses up to $200
  • Any amount relating to a prior debt included in the credit contract.
  • Reimbursement for the cost of hiring a rental vehicle for a maximum of 5 days.
  • Additional benefits only apply to Options 1, 2 and 3.

Example GAP Claim:

You have an accident in your vehicle and the comprehensive insurer deems the vehicle a total loss. The insurer pays out to the financier, leaving a $5,000 outstanding balance on your credit contract that you are liable for and must be paid immediately. If you had GAP Cover, it would provide a payment of the outstanding amount less the comprehensive insurance premium and the original GAP Cover premium saving you potentially thousands*.

Purchasing a replacement vehicle can also be an expensive exercise which is where the additional benefits under options 1, 2, and 3 really help out.

*Example only. There may be other deductions depending on the status of your credit contract.

If you are interested in finding out more about GAP – Loan Equity Insurance cover and how it can apply to your vehicle purchase, please complete our enquiry form, and one of our specialists will be in touch with you.

Payment Protection Insurance

Payment Protection Insurance is a policy which covers the policyholder for the monthly installments on their credit contract in the event that they suffer from an insured event (outlined below). The policy cover options are specific to the policyholder’s source of income at the time entering into a Credit Contract. The benefits are payable directly to the financier. In the unfortunate event of death, PPI covers the outstanding balance on the loan.

The main risk of having finance is if something happens, altering to your ability to earn money. PPI protects you, your family, and your credit rating if the worst happens. With only a minimum stand down and generous cover for up to 60 months, PPI protection truly covers you for the unexpected at the time you will need it most.

ACC only pay to a maximum of 80% of your income – how would your household react to an instant 20% pay cut?

Discuss your options today. Speak to our team by submitting an enquiry below.

Please note that when considering any insurance option, we recommend that you seek independent insurance and/or legal advice. All rates and fees for any associate providers are available upon request.

What Cover Options are Available?

Self-employed cover –  Insured Events: Death, Accident, Illness, Business Interruption, and Bankruptcy.

Wage & salary earner cover – Insured Events: Death, Accident, Illness, Bankruptcy, and Redundancy.

Retiree & beneficiary cover – Insured Events: Death, Bankruptcy, Permanent Total Disablement, Hospitalisation, and Bed Care.

Benefits:

  • No medical examination required to purchase a policy
  • Pre-existing medical conditions covered if no treatment advice in 6 months prior to policy start date
  • Benefits are paid directly to your Financier in relation to your Credit Contract
  • Benefits continue until the end of your Credit Contract
  • Peace of mind for the unexpected
  • Low cost, once only premium
  • Protects household income for other purposes
  • Protects credit rating
  • In the event of death, family/estate does not have to deal with debt and possible repossession
  • Accident & Illness benefits paid from day 1 provided Accident & Illness > 7 days
  • Redundancy paid from day 1 provided redundancy > 30 days
  • Redundancy benefit of 12 months
  • 10 day cooling off period

If you are interested in finding out more about Payment Protection insurance cover and how it can apply to your vehicle purchase, please complete our enquiry form, and one of our specialists will be in touch with you.

Discuss your options today. Speak to our team by submitting an enquiry below.

Please note that when considering any insurance policy we recommend that you seek independent insurance and/or legal advice. All rates and fees for any associate providers are available upon request.

Enquiry Form

Further terms, conditions, and information about lending rates and fees from our lenders can be found here. Miles Group collects personal information about you in order to facilitate your enquiry and for other purposes otherwise set out in our Privacy Policy here.

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