Covering the shortfall due to a write off
Due to accident, flood, fire or theft, your motor insurance company declares your vehicle a total loss. What’s more, there could be a significant shortfall between the original value of your vehicle and the insurer’s pay-out at the time of the total loss, likely to be the current market value.
And what if you used a finance agreement to buy a vehicle that’s declared a total loss before you’ve paid back all you owe? You may have to pay any outstanding monthly payments in one lump sum, on a vehicle you can no longer use. Whether you’ve paid outright, or have taken out a finance agreement, you can protect yourself from exposure to financial loss with our Combined Guaranteed Asset Protection and Return to Invoice facility.