IF YOUR CAR IS INVOLVED IN AN ACCIDENT, STOLEN OR WRITTEN OFF, HOW MUCH WOULD YOUR CURRENT INSURANCE COVER PAY YOU?
Would that be enough to replace your car?
Total Loss Protection (TLP) pays the difference between your insurance payout and the original invoice price of your vehicle purchase. Combined GAP and RTI is an insurance policy which is subject to the terms and conditions contained in the policy schedule. In addition you should note that there are certain limitations in terms of the maximum amount you may claim. A total loss need not be a total disaster. If your car is stolen or written off, TLP pays the difference between your insurance company payout and the original invoice price of your vehicle.
IS THERE A MAXIMUM AMOUNT TLP WILL PAY?
Yes, there is a maximum amount, which is the original purchase price of your vehicle. The policy also includes up to £250 of your insurance excess.
CAN YOU GIVE ME AN EXAMPLE OF HOW TLP WORKS?
If you paid £10,000 for your car and your motor insurance payout is £7,000, the TLP will pay out £3,000. It's as simple as that! If you financed your car and the finance outstanding is £10,500, the TLP insurance will pay out £3,500.
CAN IT BE TRANSFERRED IF I SELL THE VEHICLE?
Yes, under recent amendments TLP is now transferable if you decide to change your vehicle, any outstanding full months can be transferred to your next vehicle*
WHAT IS THE MAXIMUM TERM I CAN HAVE?
Total Loss Protection is available for a fixed 3 year team.