VENDOR FINANCE (WRAP) INSURANCE

This house policy has been set up specifically for Lease-buy, Vendor Terms or Installment Sales contracts and Wrappers arrangements. It includes some terms and conditions that differ from the standard policy wording contained in the Insurance Contracts Act (1984).

What we've done in collaboration with a leading Australian Insurer, is design a domestic policy specifically for the needs of the Vendor Finance Industry. Cover includes Protection for both parties in the event of a defined event occurring, both parties being the owner and purchaser/occupier.

We have included a special endorsement which specifically protects the vendor should a claim arise which can be attributed to malicious damage caused by the occupier/purchaser. This is the only policy on the market that offers this protection.

It is a Defined Events Domestic Insurance policy that has the following additional benefits:

• Insures the vendor/owner of the home;
• Notes the interest of the purchaser/occupier under Vendors Terms Contract;
• Provides Emergency Accommodation Benefit for the purchaser/occupier if the property becomes uninhabitable as the result of a Defined Event;
• Protects the vendor/owner for Malicious Damage that may be caused by the purchaser/occupier or family members living with them at the property.