Combined Guaranteed Asset Protection from Motorseeker UK
Your car is declared a write off due to an accident, fire or theft? Now imagine discovering that your insurance company payout will not match the original price you paid for your car.
This is a scenario faced by many motorists today. Even if you are not liable, you could find a significant shortfall between the amount you receive in settlement and the price you originally paid, depending upon the rate of depreciation of your car.
Motorseeker UK has teamed up with AutoProtect to offer our customers Combined Guaranteed Asset Protection, through its Combined GAP and RTI Insurance product. Whether you have paid outright for your vehicle, or made a finance agreement, you can be fully covered with Combined Guaranteed Asset Protection.
How Combined Guaranteed Asset Protection works
Combined Guaranteed Asset Protection works by paying out the greater of the Finance GAP or Return to Invoice (RTI) amount:
Imagine that you have bought your vehicle outright and paid £26,500 for your car which is unfortunately stolen and not recovered. The motor insurance provider then declares it a total loss and they value the car at £14,000 using current market conditions. RTI can pay up to the difference of £12,500 to top it up to the original £26,500.
Imagine that you have financed your vehicle and paid £26,500 for your car which is unfortunately stolen and not recovered. The motor insurance provider then declares it a total loss and they value the car at £14,000 using current market conditions. However, you still owe the Finance Company £17,500. Finance GAP insurance may pay out up to the £3,500 difference.
Combined GAP and RTI insurance could pay out the greater of either the RTI or GAP pay-out, protecting you whatever your circumstance. It's that simple!
Incorporates Return to Invoice Cover (RTI) and Guaranteed Asset Protection (or GAP).
RTI Cover could reimburse any difference between the road risk insurance settlement and original vehicle price.
GAP is suited to our customers taking out a finance agreement and may pay the difference between the road risk insurance settlement and the finance amount still owed.
Combined GAP and RTI insurance could pay out the greater of either the RTI or GAP pay-out, protecting you whatever your circumstance.
Meets the Association of British Insurers (ABI) code of practice.
For further information on the suitability and benefits of this product, please contact one of our sales team who will be very happy to help. You can also click here [video link] to find out more.
Combined GAP and RTI is an insurance policy and is subject to terms and conditions. You should note that there are certain limitations in terms of the maximum amount you may claim. Please ask for further details.