HOW DOES IT WORK?
If your vehicle is stolen or written off as a result of an accident, fire or theft, most insurers will only pay out the market value for your vehicle, even if the claim was not your fault. Depending on the age and mileage of your vehicle at the time of loss, the market value may be substantially less than the price you paid for it.
Our Combined Return to Invoice and Finance GAP covers the difference between your motor insurer’s write off settlement, and the amount you originally paid for your vehicle. If the amount required to settle the finance is greater than the original invoice price, we will cover the higher figure.
With the added benefit of Tempoary Replacement Vehicle, In the event of a Total Loss, the policy will pay a contribution towards a temporary replacement vehicle. Where possible, the administrator, on behalf of the insurer, will arrange a third part to provide you with a temporary replacement vehicle which will be up to a maximum of 2000cc and could be of any make or model available at the time.
YOU WILL BE ELIGIBLE FOR THE POLICY IF YOU ARE:
- Applying as an individual, you are a resident in the United Kingdom, the Channel Islands or the Isle of Man; and
- You are applying as a company, that company is registered in the United Kingdom, Channel Islands or the Isle of Man; and
- Insuring a private car registered in the United Kingdom, the Channel Islands or the Isle of Man; and
- Not purchasing a vehicle which is a commercial vehicle over 3.5 tonnes, emergency vehicle, taxi courier vehicle or a vehicle for hire and reward or driving tuition.
- A maximum benefit of either £12,500, £25,000 or £50,000, depending on the policy eligibility
- If the finance settlement figure is greater than your original invoice price, the policy will settle the higher figure
- Up to £250 contribution towards the motor Insurer excess
- In the event of a total loss, the policy will arrange a temporary replacement vehicle, for up to 45 days and for a maximum of £30 per day
- Dealer Fitted Accessories that were fitted by the Supplying Dealer and that are shown are shown separately on the purchase invoice
As well as the features and benefits of our policies, it’s important that we make you aware of the product exclusions. Below are some of the major ones. This should not be used as a substitute for your policy documentation, which details the policy exclusions in full.
- Delivery charges, warranty and insurance premiums
- Negative equity
- Vehicles covered under any type of motor trade Insurance policy
- Any additional costs related to the temporary replacement vehicle
- Any claims not reported according to the terms and conditions of the policy
HOW TO CLAIM
- Notify the administrator immediately after an incident which has resulted in damage.
- Claims can be logged on their website at www.mypremia.co.uk, where a confirmation of the process and a claim form will be issued.
- The completed claim form and supporting documentation should be returned to the administrator for assessment.
- Additional details of the claim process can be found in the policy document for this cover.
This is an optional product, available from other providers and there is no obligation to buy.
This is marketing material and should not be considered as a substitute for the full terms and conditions of a policy, which can be found in the policy document – a sample of which is available from your dealer upon request.
Administrator: Premia Solutions Limited, 3 Corunna Court, Corunna Road, Warwick CV34 5HQ.
Premia Solutions Limited are an insurance intermediary
Insurer: Fortegra Europe Insurance Company Limited (Malta company registration number C 84703), Office 13, SOHO Office The Strand, Fawwara Building, Triq I-Imsida, Gzira, GZR 1401, Malta, who are authorised under the Insurance Business Act 1998 of the laws of Malta to carry out general business, who are regulated by the Malta Financial Services Authority of Triq l-Imdina, Zone 1, Central Business District, Birkirkara, CBD 1010, Malta, and are deemed authorised by the UK’s Prudential Regulation Authority.