Beat The Gap With Insurance Excess Loans From Jacaranda Finance | Apply Now!
Insurance excess loans: here to cover the mishaps you can’t afford.
Insurance is something that will always have our backs when things go wrong. We might be involved in a car accident. Our homes might be damaged. Or, our pet may fall ill. Insurance is a surefire way to protect your finances in times of urgency. We never want to always expect the worst as that’s a rather pessimistic way to live life. However, it doesn’t ever hurt to be prepared for the worst – on a ‘just in case’ basis.
Having insurance basically just means that, when we need to fork out a significant amount of money to cover an unexpected expense, we have a safety net that will make sure our finances don’t fall into a case of urgency themselves. One thing, however, that insurance doesn’t always cover is the excess fee. That’s where we come in. Jacaranda Finance’s insurance excess loans are perfect for when the unexpected happens and you’re too strapped for cash to cover your insurance excess fee.
Sometimes you will come across an insurance policy that has an excess fee. This is what the customer has to pay when they make a claim on their policy. It is a way of the customer accepting a small portion of the risk. The way it works is that, let’s say you’re involved in a car accident (no one is injured, thank goodness). And the damage caused to your car is going to cost a total of $2,500 to repair. Your excess fee might be $800. Therefore, that is how much you will have to pay and then your insurance company will cover the rest. That’s where insurance excess loans can be very handy!
Not every insurance policy will have the same kind and level of excess. Furthermore, excess fees don’t all apply in the same situations. However, if you do find yourself in a situation where you are having to make a claim on insurance and you have to pay an excess, we are here to help! We get that not everyone has a spare $800 or so just lying around. And we also get that it’s not possible to ever predict crashing your car. Or having your house flood or falling ill while travelling. Therefore, insurance excess loans are here for when the unexpected happens and you’re a little short on cash.
Like we said, it’s hard to know when you’re going to need to put a claim in with your insurance company. That’s why we have insurance: to cover us when things go wrong. However, if your insurance company can’t cover you all the way, we’ll be here to pick up the slack. The reason our insurance excess loans are so handy is that you can apply, get a fast outcome and we’ll do our best to get your cash all in the same day! Yep, that’s right. We can offer same day cash loans!
Therefore, if you are in a rush to gather the cash to pay your excess, you won’t find a process much quicker than ours! We pride ourselves on being one of the fastest money lenders in Australia. We offer a speedy application and 60-minute outcomes (if you apply during business hours). Therefore, you won’t even have time to enter full panic mode before your excess is paid and the crisis is over. Transfer times depend on the speed of your bank.
As we mentioned, apply for our insurance excess loans is super quick and easy! If you’re after a fast unexpected bills loan, you’ve come to the right place! All you need to do to apply is jump on to our website. Then, use our loans calculator at the top of each page. Just use the slider to tell us how much you’re wanting to borrow. Then, select your repayment period, enter your contact details and click Apply Now.
Congratulations, you’re halfway through your insurance excess loans application. Now, all you need to do is take the next few minutes to fill out the rest of the application form. It’s all done 100% online so no need to print anything off and fill it out or mission it to the post office to send over documents. You just need to fill out our form on your smartphone, tablet or computer and then click Submit and you’re done!
The things you’ll need handy when applying are:
- The reason for your loan
- A few personal details
- Your internet banking credentials so we can verify your income (yep, you will need internet banking)
- Your MyGov account details so we can verify your Centrelink Income Statement (if applicable)
- Some employment details
We know that, with different hacker scams popping up all the time, it’s natural to be a little wary of anything that asks for your banking logins. However, we can assure you that this is the safest and fastest way for us to verify your income and spending habits.
The way it works is that, as soon as you have entered your credentials, our secure system will obtain read-only copies of your bank statements from the last 90 days. Once we have retrieved those copies, our system will delete your details straight away. No one will actually be logging in to your account or have any access to your funds.
There is no need to worry. Our system permanently deletes your credentials once your transaction history has been obtained. If you are concerned about it, you can simply change your internet banking details after submitting your application. However, we can assure you we have never had an issue with breaches in our client’s’ privacy. This really is the fastest way for us to assess your application and your cash to you when you need it. It’s why we’re able to offer you same day approval loans. So, if you’re in need of cash in a hurry, our process is perfect for you!
Once you have submitted your application, we’ll get to work assessing it. This can only takes us 60 short minutes (if you apply during business hours). However, if you have applied outside of our normal business hours or we require some additional documentation, it may take a little longer.
We’ll also let you know within a couple of minutes of submitting your application if we’re able to make you an offer or not. We’re not in the business of wasting anyone’s time. So, if we can’t help you we’ll tell you straight away instead of making you sweat it out for an hour.
Otherwise, if we conditionally approve your application, feel free to enjoy a cup of tea or chuck your favourite show on the TV. We’ll be busy assessing your application and you’ll likely hear from us within the hour. Just don’t stray too far from your phone as we’ll either email you or send you an SMS with our loan offer.
When we have approved your application and made you an offer, someone from our team will get in touch to go over some final details. We’ll then send you an electronic contract outline all the terms of your loan. As soon as we receive your signed contract we will transfer you your cash. It may take a couple of hours for the funds to reflect in your nominated bank account. However, this will depend on the policies of the bank are you with. If you have not received your cash within 24 hours of the next business we, we recommend give your bank a call.
Your loan contract will contain all the loan terms that have been decided upon between us and you. When we get in touch with you after you’ve been approved, we’ll go through and finalise all the details so we’re sure you agree. All your loan payment agreements will be outlined in your contract. These will include your loan amount, repayment period between 13 and 24 months.
It will also include details of your loan repayment terms. Once you have selected your repayment period, we’ll then ask you to pick a day – either weekly, fortnightly or monthly – in which you would like to make your payments. Your repayment amount will depend on your pay cycle and will be clearly outlined in your contract.
Our repayment process is super simple! Once you have selected your payment day, we will set up for your payment amount to be directly debited from your account on that day for the life of the loan. Whether it’s Monday every week, Thursday every fortnight or Tuesday every month, all payments will be completely automatic. Therefore, you don’t ever have to worry about setting reminders or missing payment dates. We’ll take care of it all for you! All you need to do is make sure there is enough money in your account for when we take the payment.
Don’t stress! If your bank account is looking a little sad one week, try not to panic. You’ll just want to give us a call as soon as possible. Just to let us know about the change in your situation. As long as we know before we go to take the payment, we may be able to work with you to come up with a solution that everyone is happy with. However, if you don’t let us know and we go to take the payment and it fails, you could be charged a direct debit dishonour fee. This is the last thing you need when your finances are already doing it tough so make sure you keep us up to date on your situation.
Some good news, however, is that, if you decide you want to try and pay your loan out early, you can do so completely free of charge! There are no early exit fees and you’re always more than welcome to throw a few extra dollars on to your minimum payments whenever you’re able to. Trying to pay your loan out as quickly as possible as you will save money on interest and monthly fees. Therefore, whenever you are able to make a higher payment on your loan without putting any strain on your finances, we’ll always recommend doing so.
The cost of our insurance excess loans will differ depending on the type of loan you are applying for. If you are after unsecured personal loans between $300 and $2,000, the costs include:
- A one-off establishment fee of 20% of the total loan principal (broken down in your loan repayments)
- Monthly fees of 4% of the loan principal
- A $35 direct debit dishonour fee charged for failed payments
If you’re after a medium secured personal loan between $2,00 and $4,600, you can expect to pay:
- A one-off fee of $400 (broken down into your regular repayments)
- An annual percentage rate of 48%
- A $35 direct debit dishonour fee charged for late payments
If you’re after a large secured personal loan between $5,000 and $10,000, you can expect to pay:
- An annual percentage rate of 21.24%
- A $35 direct debit dishonour fee charged for late payments
Ready to make your claim?
Now that you’re all caught up on what our insurance excess loans can do for you, go ahead and get started with your application! You can just scroll up to the top of this page and use our loan calculator to start your application. If you have any questions please don’t hesitate to get in touch with us via our website or our Facebook page. Alternatively, you can check out our FAQ page to answer any of your questions!
Looking for a reliable personal loan? Jacaranda could have the cash you’ve been searching for!