GardX Assure - Asset Protection can compliment your own vehicle insurance and may provide the reassurance and financial support you need to get you back on the road. At the date of a total loss, GardX Assure - Asset Protection will pay an amount equal to the difference between your motor insurance settlement, original invoice price, or early settlement amount of your finance or lease agreement - dependent on which cover is chosen.
How does it work?
If an incident occurs resulting in your vehicle being written off due to accident, fire or theft; then the settlement amount you receive from your motor insurer could be significantly less than the outstanding balance of the original purchase price.
The market value of your vehicle at the time of the incident is used by most motor insurance companies to determine the total loss payment. Any depreciation in the vehicle value would potentially be a loss incurred by you.
You could be left without transport plus the burden of settling any outstanding finance or lease payments!
In the event of the total loss of the insured vehicle after the start date and before the end date, we will pay a maximum benefit equal to the difference between your motor insurance settlement and the original purchase price of the insured vehicle, or if greater, the amount you require to pay your early settlement amount. This insurance will also pay the excess deducted by your motor insurer up to £250.
GardX Assure - Asset Protection
GardX Assure - Asset Protection is available in multiple policies:
Lease Asset Protection for vehicles subject to a lease agreement.
Retail Price Asset Protection for vehicles subject to a finance agreement or purchased outright.
Finance Asset Protection.
Taxi Finance Asset Protection.
Taxi Return to Invoice Asset Protection.
Motorcycle Asset Protection.
Vehicles used for competition, hire, risk and reward