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Equity Protection Insurance (EPI)

Vehicles, as they get older and experience everyday use, and wear and tear, depreciate and lose value. In the event of a total loss the value paid out by the comprehensive insurer may be lower than expected due to this depreciation.

Equity Protection Insurance provides cover to assist with settlement of the outstanding finance balance if the vehicle was financed, or may help replace some of the lost equity or deposit when needing to replace the vehicle.

Key Benefits


Term of Coverage

The period of insurance is governed by the term of the loan up to a maximum of 84 months as long as the vehicle is comprehensively insured at the time of a claim.


Out of Pocket Expenses

A benefit of up to $2,000 will be paid directly to you for expenses incurred as a result of the total loss, irrespective of whether a shortfall exists, including where you have paid out your finance contract early.


Replacement Vehicle Value

This is the value determined by eric at the time the insurance commences and cannot exceed the purchase price of the vehicle.


No Excess

No excess is applicable on claims.


  • You must be at least 18 years of age at the commencement of the Period of Insurance;
  • You must be the registered owner of the Vehicle;
  • During the Period of Insurance your Vehicle must be covered by Comprehensive Vehicle Insurance;
  • You must have a liability under the Finance Contact; and
  • The Finance Contract must be for a car or road motorcycle
  • Vehicle must not be used for excluded purposes (hire / taxis / rental vehicles / rideshare / courier / delivery, including fast food delivery)
  • Vehicle purchase price cannot exceed $150,000.

Find Out More

The information on this page is a summary only. For full terms, conditions, exclusions and key factors that influence the cost, please refer to the Product Disclosure Statement (PDS).

Ask your dealer or broker today!

Equity Protection Insurance (EPI) is only distributed by our Authorised Representatives. Ask your dealer or broker today if they are an eric Authorised Representative.


Equity Protection Insurance (EPI) is issued by Eric Insurance Limited ABN 18 009 129 793 AFSL 238279 (eric). This website may contain general financial product advice that does not take into account your personal financial circumstance.