Guaranteed Asset Protection I Assurant

PRODUCT INFORMATION

COMBINED GAP

Our 5 star market leading combined GAP Insurance will protect your customers in the event of a total loss for up to 5 years. With no claim limit (aside from the original purchase price), £1,500 worth of dealer fitted accessories covered and a contribution of £300 towards insurance excess, it provides a compelling option for aftersales protection. Combined GAP includes Return to Invoice protection for the first 3 years and Financial Shortfall thereafter for a maximum of 5 years in total.

RETURN TO INVOICE

Suited for customers that don’t require Financial Shortfall protection after year 3, our Return to Invoice product offers most of the great features of our Combined GAP Insurance for a maximum of 48 months.

TOP UP

If you’re looking for a simple alternative, our Top-up GAP Insurance offers a payment of 25% of the insurer’s settlement in the event of total loss for a maximum of 48 months.

FEATURES	COMBINED	RETURN TO INVOICE	TOP UP
Maximum vehicle age	No maximum	No maximum	No maximum
Maximum vehicle mileage	No maximum	No maximum	No maximum
Term of cover	36 or 48 months RTI & then up to a combined total of 60 months FS	36 or 48 months	Up to 48 months
Insurance excess covered	£300	£300	£150
Claim limit*	Original purchase price	Original purchase price	25% of market value
Dealer fitted accessories cover	Up to £1,500	Up to £1,500	Up to £500
Covers hire/lease agreements	✓	N/A	N/A
Vehicle covered in EEA	✓	✓	✓

These product features have all been specifically developed to create market leading GAP products for your customers. You must be authorised or be an Appointed Representative of an authorised principal to sell GAP Insurance.

*Vehicles with a purchase price of £50k or over will have a fixed claim limit of £50k

WORKING WITH YOU

GAP Insurance is a great way of increasing customer retention and adding an additional revenue stream – but it’s how we support you in doing this that sets us apart from the rest.

Regulatory Support

As with any insurance products, keeping within regulations is key. We’re an established Insurer, embracing regulation changes across the decades and our consistent focus on treating customers fairly means you can be confident that they are in good hands. With regulatory changes such as IDD and GDPR, we can provide support through your account management and useful information brochures.

Management Information

Through Microsoft Power BI we provide up to date MI to ensure you are fully aware of your scheme performance, and areas that can be improved.

Account Management and Training

Our dedicated account management will make sure that the end-to-end proposition and positive customer experiences are delivered from day 1. You also benefit from our wide range of in-depth, bespoke training programmes delivered by our dedicated national training team. Industry Professionals (with a proven track record in achieving sales success) will visit your business to carry out a Training Needs Analysis. This will identify the gaps in performance and enable us to agree the right solutions with you.

We deliver interactive group training sessions to improve product knowledge, build on existing practices to establish a strong process and create strong product presentation skills, as well as continual 1:1 development sessions and action plans. We help with objection handling and product knowledge to ensure your customers are treated fairly with full confidence in what they’re buying.

Underwriting

All our underwriting is carried out by our excellent and experienced in-house team, allowing us to work with your business to create a solution that works for you. Unlike other providers, we do not outsource our underwriting which means you deal directly with us.