Guaranteed Protection Insurance

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Vehicle GAP

Income Protection Our Guaranteed Asset Protection is designed to complement existing motor insurance cover by helping customers deal with the additional expense that is often involved when a car is stolen or written off. By paying an additional amount it helps customers either settle a finance agreement or purchase a replacement vehicle, it gives reassurances that customers will not be left out of pocket if they lose the use of their vehicle.

The product has three variants:

  • Finance or Shortfall pays the difference between the outstanding balance of the finance arrangement
    and the insured value
  • Index pays a defined percentage of the market value prior to loss
  • Return to Invoice or Back to Invoice pays the difference between the invoice price and the insured value. 

CLIENT BENEFITS

Meets your customers’ needs

As car ownership is at an all time high, with many households having multiple vehicles, this product has a very wide customer appeal, especially at a time when the costs of owning a car are rising.1

Complements existing product suite

This policy can deliver a new income stream for your business by complementing the product suite you already offer your customers.

CUSTOMER BENEFITS

Asset protection

Cars are a big financial commitment for most customers. Providing security for their outlay is therefore critical. Our product gives your customers reassurance that they will be able to settle a finance agreement or purchase a like-for-like replacement if their car is written off or stolen.

Flexible cover

The product can be tailored to your customer’s individual situation. Three different variants address the most common scenarios for car
owners, enabling your customer to choose the best fit for them.
1 You Gov, 09/08. news.europcar.co.uk
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Vehicle GAP