Get peace of mind for an unexpected life event.

Lease Protection Insurance is designed to assist you with the shortfall amount on your lease should you wish to Handback your vehicle and/or receive up to 6 monthly repayments if a covered event occurs during the period of insurance.

A choice of 8 cover combinations

For purchases made from 8 Nov 2019 (PDS version number LPI_V120819_SS)

Cover Level

Maximum Policy Term

Cover Benefit Limit

Standard (cover level 4)  Up to 60 months $10,000
Standard (cover level 4) shorter term Up to 35 months $10,000 
Premium (cover level 3) Up to 60 months $15,000
Premium (cover level 3) shorter term Up to 35 months $15,000 
Ultimate (cover level 2) Up to 60 months $20,000
Ultimate (cover level 2) shorter term  Up to 35 months  $20,000
Elite (Cover Level 1)  Up to 60 months $30,000
Elite (Cover Level 1) shorter term  Up to 35 months  $30,000


What's Covered


Need to Know

Handback option in the following circumstances:
• Involuntary unemployment
• Disability

If you suffer from one of these events during the period of cover and wish to Handback your vehicle to the dealer, providing there is a shortfall, then Eric will pay the shortfall amount to the financier up to the benefit limit of the level of cover you selected.

A shortfall is the difference between the amount owed to
the financier and the greater of;
• the value of the vehicle as reasonably determined by
Eric in accordance with the trade value of the current
edition of Glass’s Auto Edge (for a vehicle which is the
equivalent age, make, condition and model as your
vehicle), and
• the price paid by the dealer following the Handback.

Cover available for full term of lease, with one up front flat rate premium - no annual renewal.

Monthly repayment option in the following circumstances:
• Involuntary unemployment
• Disability

Retain your vehicle – have your monthly repayments made for you for up to 6 months (including your vehicle's running costs).

Even if you select additional monthly payment option, you still have the option to return your car.

Refer to the Product Disclosure Statement (PDS) for full terms, conditions, exclusions and key factors that influence the cost of the insurance product.

Lease Protection Insurance is issued by Eric Insurance Limited ABN 18 009 129 793 AFSL 238279 (Eric). This document may contain general financial product advice that does not take into account your personal financial circumstances. You can obtain the relevant PDS by contacting Smartleasing on 1300 144 873 or from Eric.

Current PDS

Lease Protection Insurance - Product Disclosure Statement
For purchases made from 8 November 2019
 (PDS version number LPI_V120819 SS)