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Early Termination
Insurance
Many people are opting out of a company car schemes. The new tax
regime means you can be much better off financially and have the
flexibility to choose your own car. Car leasing can, however, be
risky.
What if you need to sell your car and terminate the contract hire agreement
for some reason. You could get made redundant, you might lose your driving
licence due to ill health.
Alternatively, your car is involved in an accident and is written
off, or it is stolen.
If any of these things happen you could find yourself in a difficult
position!
Because cars tend to depreciate quickly in the first year, then
more slowly as they get older, there is a risk that you will owe
more to the car finance company than the car is worth. In other words
there is a “GAP”
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Fortunately,
we can soften the blow with our Early Termination
Insurance |
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It pays out to cover the “GAP” if
you have to terminate the finance agreement because:
You are made redundant
Your car is written off
Your car is stolen and not recovered
You lose your driving license (on medical grounds)
You die
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It covers the “GAP” up to £5000
for up to 4 years (terms and conditions apply)
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GAP Insurance
Because cars tend to depreciate quickly in the first year, then
more slowly as they get older, there is a risk that you will owe
more to the finance company than the insurance company pay-out
if the vehicle is written off or stolen.
The GAP Insurance will pay the difference, up to a maximum
of £5,000, between your insurance company payout and the
amount you owe to the car lease company.
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If you thought
that having your car stolen or written off would never happen
to you did you know? |
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More than 1,000 cars are stolen
EVERY DAY in the UK |
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More than one third of cars stolen
are NEVER recovere |
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Car crime represents 25% of all
crime in the UK |
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Over 800,000 cars were written
off last year
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Payment Protection Insurance
If you were unable to work due to an accident or illness, your
business was to fail or you were made redundant, wouldn't it be
good to know that your vehicle payments were being made on your
behalf to the vehicle leasing company?
If you were away from work due to a critical illness (heart attack,
cancer, stroke, kidney failure, major organ transplant or coronary
artery bypass) would it be easier knowing the balance owing on
your finance agreement (including any balloon) was cleared?
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Fortunately with our Payment Protection
Insurance you can find the protection you need, look
at the benefits: |
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Pays your payments for up to 12 the term of
the loan if you are unable to work due to accident or sickness
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Pays your payments for up to 12 months if
you cease trading or are made redundant
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Pays off the outstanding balance (including
the “balloon”) in the event of your death
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Pays off the outstanding balance (including
the “balloon”) in the event of you suffering a
critical illness
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Note: Terms & Conditions
apply
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Vehicle Replacement
Insurance:
If your car is written off as a “total loss” by
your insurance company, you will only be paid the “current
market value” of the vehicle at the time of the loss
- Not What You Originally Paid and therefore
not enough to buy the same car again.
If you thought that
having your car stolen or written off would never happen
to you did you know?
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More than 1,000 cars are stolen
EVERY DAY in the UK
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More than 1,000 cars are stolen
EVERY DAY in the UK
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Car crime represents 25% of all
crime in the UK
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Over 800,000 cars were written
off last year.
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Fortunately, we can soften the blow with Vehicle
Replacement Insurance , it pays out as a supplement
to your comprehensive motor insurance, so you can afford to
replace your car with a similar model.
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VRI pays the difference, up to a maximum
of £10,000, between your insurance company pay-out
and the original price you paid for the car.
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Covers you for 3 years.
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Note: Terms & Conditions
apply
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