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Vehicle Replacement Insurance | |
| If your vehicle is written off because of an accident or theft, it's very likely that there will be a gap between what your insurance company pays out and the net invoice purchase price. That means you'd have to find additional money to buy a car of similar quality to that which you bought originally. | |
| Fortunately, we have a solution: Vehicle Replacement Insurance | |
| Vehicle Replacement Insurance covers the difference between your insurance company's pay out and the price you originally paid for your vehicle. | |
 | How it works You buy a new car costing £12,495 with a deposit of £1,250, and finance the remainder. One year later, your car is stolen and declared a total loss, with £8,350 still outstanding on Finance, but the insurance company payout was only £7,500. So you still owe £850 to the Finance Company, you have lost your deposit of £1,250 and you have to find the money to buy a replacement vehicle, which now costs £12,995. |
| Car Care Plan vehicle replacement insurance This level of cover will pay the £5,495 shortfall between the insurance company payout and the price to purchase an equivalent replacement vehicle. This means that after repaying the finance shortfall of £850, you have £4,645 to put towards the purchase of an equivalent replacement vehicle. | |
| Different levels of cover are available depending on your requirements. Please discuss your needs with one of our sales people, or ask them for a more in-depth description of insurance products. | |