AutoProtect - ASSET PROTECTION
Asset Protection incorporates Return to Invoice cover (or RTI) and Finance Guaranteed Asset Protection (or Finance GAP).
RTI is designed to pay-out any difference between the settlement made by your motor insurance company and the price you originally paid for the vehicle.
If your vehicle is written off, Finance GAP pays the difference between the settlement made by your motor insurance company and the amount you still owe on your finance agreement.
How Combined Guaranteed Asset Protection works
If your customer bought their vehicle outright and paid £26,500 for their car and their motor insurance payout is £14,000, RTI can pay up to the difference of £12,500 to top it up to the original £26,500.
If they financed their vehicle and paid £26,500 and their motor insurance pay out is £14,000, and their outstanding finance payment was £17,500 Finance GAP insurance may payout up to £3,500.
Combined Guaranteed Asset Protection will payout the greater of the Finance GAP or RTI amount. It’s that simple!
- Incorporates Return to Invoice Cover (RTI) and Guaranteed Asset Protection (or GAP).
- RTI Cover could reimburse any difference between the road risk insurance settlement and original vehicle price.
- GAP is suited to customers taking out a finance agreement and may pay the difference between the road risk insurance settlement and the amount your customer still owes.
- Combined GAP and RTI insurance could pay out the greater of either the RTI or GAP pay-out, protecting your customer whatever their circumstance.
- Meets the ABI code of practice.
AutoProtect provide flexible, adaptable products designed to suit your specific requirements.