ASSET PROTECTION FROM YEOMANS TOYOTA
HELPING SAFEGUARD THE VALUE OF YOUR VEHICLE
It’s an easy thing to overlook, but the biggest cost when purchasing a vehicle is its inevitable depreciation.
Whether you choose a new car or a used one, over time most vehicles depreciate at a similar rate. When you decide to change your car you plan for this depreciation within your budget. But what happens when you are forced into replacing your car unexpectedly, as happens if your vehicle is stolen or written off?
No matter if its new or used, your vehicle is bound to depreciate as its age and mileage goes up. Though this is something you can plan for when upgrading to a new car, how do you cover for it if your car is written off or stolen?
You may think this is where car insurance steps in, but often your provider will pay out for the market value of your car at the time of loss — not the price that you paid for it. This is where asset protection comes into play.
Asset protection allows the gap between the price of your vehicle and the payout from your insurer, meaning you’re not left out of pocket in the event of an accident or theft. What’s more, it will also pay up to £250 towards your insurance excess and an additional £1500 to cover dealer fitted accessories.
Vehicle Replacement Protection
In the event of a total loss, Vehicle Replacement Protection will pay a maximum benefit that’s equal to the difference between your insurance settlement and the cost of a replacement car matching the original specification, or if greater, the amount required to pay your early settlement amount. This payment will be inclusive of the excess deducted by your motor insurer up to a limit of £250.
Retail Price Protection
In the event of a total loss, Retail Price Protection will pay a maximum benefit equal to the difference between your motor insurance settlement and the invoice price of the Insured Vehicle, or if greater, the amount you require to pay your early settlement amount, This payment will be inclusive of the excess deducted by your motor insurer up to a limit of £250. Cover is subject to Terms and Conditions.
1. Who is covered under the policy?
Asset Protection covers the person named as the insured on the policy schedule
2. Does the policy cover more than one car?
No, only the vehicle shown on the policy certificate is covered
3. What type of motor insurance do I need?
You must have a fully comprehensive motor insurance policy
4. Is there a minimum age requirement?
You must be at least eighteen years of age and hold a provisional or full driving licence.
5. Are there any restrictions on the vehicle use?
Yes, your vehicle must be under 3500 kg and not be used for hire or reward, courier, taxi, delivery, or driving instruction use.
6. What happens if I sell my car?
The balance of cover can be transferred to your new vehicle
7. How do I make a claim?
Our claims team can be contacted over the phone and they will assist you through the entire claims process.
For more details about Asset Protection, use our live chat service to talk to a member of our team instantly or visit your local Yeomans Toyota centre.