Total Loss Protection

Total Loss Protection is designed to help bridge the gap between what you paid for a vehicle and the insurance pay-out received if it is written off.

What is Total Loss Protection

Total Loss Protection is designed to help bridge the gap between what you paid for a vehicle and the insurance pay-out received if it is written off. In the event of the car being declared an insurance write off, this policy will pay up to 25% of the motor insurer’s settlement to cater for otherwise uninsured expenses.

Total Loss Protection for Cars will suit the demands and needs of a customer aged 17 or older who owns a car valued at less than £40,000, and who wishes to receive a cash lump sum equating to 25% of a motor insurer’s settlement amount in the event of the total loss of that car, to cater for otherwise uninsured expenses such as a policy excess and/or the value of vehicle contents and/or personal effects and/or any depreciation in the value of that car.

For Goods Carrying Vehicles, this will suit the demands and needs of a customer aged 17 or older who owns a goods carrying vehicle weighing no more than 7.5 tonnes Gross Vehicle Weight used to carry your own goods only.

What is covered

  • In the event that the vehicle is written off we will pay the policyholder an additional 25% of whatever the motor insurer’s settlement amount is, up to a maximum of £10,000 or whichever is the lesser.

What is NOT covered

  • Any claim that is declined under your motor Insurance policy.
  • Any claim where you receive a replacement vehicle instead of a settlement amount.
  • Vehicles driven by drivers aged 17 or over at the point of total loss.
  • Vehicles previously the subject of and which have been recorded as a total loss.
  • Vehicles modified from the manufacturer’s original specification, other than to accommodate a driver or passenger disability.
  • Any vehicle insured under a commercial motor traders’ policy.
  • Vehicles valued at £40,000 or more at the time of policy purchase.
  • VAT if you are VAT registered.
  • Any claim where you are not the owner or legally registered keeper of the vehicle or any vehicle that has been loaned, borrowed or hired.
  • Any vehicle if it is used for road-racing, rallying, pace-making, speed testing, time trials or any other competitive event or is driven by any person not holding a valid driving licence and/or who is not insured to drive your vehicle.

Key Facts

The average car depreciation will fall the hardest in the first year of ownership.
Generally, it will be around 15-35% in the first 12 months*

  • Year 1: 15-35% depreciation. 65-85% of original value.
  • Year 3: 40-60% depreciation. 40-65% of original value.
  • Year 5: 60-70% depreciation. 30-40% of original value.
  • Year 8-10: 80% depreciation. 20% of original value.

 

Get In Touch

If you have any questions or want to arrange a call back, please contact Assurity Solutions on any of details below. Alternatively, please fill out the form.

ADDRESS

Paulton House, Paulton Enterprise Park, Old Mills, Bristol. BS39 7SX

PHONE

(+44) 1761 252581

EMAIL

enquiries@assuritysolutions.co.uk

Contact Us

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