Baytree Car Sales - AA Finance Insurance Cover
Tel: 01406 373474
Baytree Car Sales
65/67 High Road
Moulton
Spalding
Lincolnshire PE12 6PE
GAP Protection Premium Finance Insurance
  (summary)
 

View printable versionWhy do I need Premium Finance Insurance?
It is a sad fact that vehicle related crime represents a significant percentage of all reported crime in the UK. How often have You heard of people who have had their vehicle stolen or written off and have not been able to replace their vehicle with another of a similar value?

This is because at the time of loss You will only be entitled to receive the current market value of Your Vehicle from Your insurance company, not what You paid for it.

How Premium Finance Insurance cover helps You.
In the event of Your Vehicle being written off through accidental damage, fire or theft, Premium Finance Insurance will cover the difference between Your outstanding finance balance and the amount You receive from Your insurance company.

Premium Finance Insurance does even more. Your new finance agreement may contain roll-over finance (also known as negative equity) - outstanding finance from a previous motor loan. This may result in You borrowing more than the purchase price or Your new Vehicle.

In the event of a valid claim Premium Finance Insurance will pay up to an additional £4,000 towards the roll-over finance added to Your finance agreement, within the maximum settlement of £10,000.

Car Image - Back To Invoice GAP Insurance
Even though You're insured,
Your payout could stop here...
If You are wise,
We'll pay the rest...

'We pay for what Your insurance company does not.'
Premium Finance Insurance is Our commitment to helping You retain financial security and peace of mind when You need it most. You could receive up to a maximum of £10,000!

The Cover
To take advantage of the benefits of Premium Finance Insurance Your Vehicle must be less than 10 years old at inception and Your finance agreement must be no longer than 60 months.

  • Your Vehicle must be insured by a Motor Insurance Policy issued by an authorised UK motor insurer, which insures against accidental damage, fire and theft.

Please refer to Your Insurance document for full Terms and Conditions.
   
     
 
Keyfacts LogoAA Warranty
guaranteed asset protection
 


effected by AA Warranty.

The protection offered to You is an Insurance policy. Like all Insurance policies it has terms and conditions. It is important that You read and understand these conditions to make sure that it is the right product to suit Your needs. If You have any questions on the content of this summary document, please contact AA Warranty customer services on 08707 559 613, or clarify them with Your sales executive. We will be happy to help.

This Insurance is underwritten by Hitachi Capital Insurance Europe Ltd. (the Insurer) whose address is 2 Apex View, Leeds, LS11 9BH, and effectd through AA Warranty (the Administrator for the Insurer). Claims made under this Insurance will be handled by the Insurer.

Hitachi Capital Insurance Europe Ltd. is authorised and regulated by the Financial Services Authority, FSA registration number 309347. Hitachi Capital Insurance Europe Ltd. is regulated by the Irish Financial Services Regulatory Authority.

AA Warranty is a trading style of the Motorway Direct plc group of companies, who are authorised and regulated by the Financial Services Authority (FSA), authorisation number 311741. Our address is Warranty House, Savile Street East, Don Valley, Sheffield, S4 7UQ. We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if We cannot meet Our obligations to You.

For details of authorised firms visit the FSA website on www.fsa.gov.uk/register
 
Your Insurance cover
 


The Insurance
Subject to the correct premium having been paid, the Insurer will provide cover as detailed in Your Insurance document.

What is covered by Your Insurance
In the event of a Total Loss happening within the Geographical Area and occurring within the Period of Insurance, the Insurer will pay an amount by which the Outstanding Balance at the date of loss, less any rebates or refund for creditor insurance, and excluding any arrears, exceeds the insured value. It includes up to £4,000 of additional finance and up to £1,500 insurance premiums within the overall settlement.

The most Insurers will pay will be the amount shown on Your Schedule.

Important notes

a).  
You must have insurance on Your Vehicle, issued by an authorised UK insurer.
b).  
If You only have third party, fire and theft insurance You can only make a claim on this Insurance for Total Loss due to fire or theft.
c).  
For this Insurance to become effective, Your Motor Insurer must declare Your Vehicle a Total Loss, make a payment to You in settlement of Your claim, and declare Your Vehicle 'beyond economic repair'.
d).  
If You make a claim on this Insurance You must do so within 60 days of the accidental damage, fire or theft occurring.
e).  
You cannot claim on this Insurance if the driver of Your Vehicle was affected by drugs or alcohol when the accident happened.
f).  
To qualify for cover, Your Vehicle must be shown in Glass's Guide. Not all vehicles or their uses are covered. Details can be found in the General Conditions section of this Insurance.
g).  
Certain exclusions apply to Your Insurance. Full details can be found in the 'what is not covered' section of Your Insurance document. Only the outstanding finance strictly relating to Your Vehicle will be settled.
h).  
This Insurance cannot be transferred to a new vehicle or new owner.
i).  
You cannot claim under this Insurance if You have the option to receive a replacement vehicle under the terms of Your Motor Insurance Policy in respect of the Total Loss of Your Vehicle. (You can transfer the cover to the replacement vehicle on request).
j).  
If You have elected to pay Your premium on a credit funding agreement You must be over 18 years of age at the time of Your Application. Failure to pay any premium instalment will result in the immediate suspension of cover and may result in cancellation. In the event of a claim, We may offset any outstanding premium against Your claim settlement.
   
 
Features and benefits
 
  1. Cover available for vehicles up to 10 years old at inception
  2. Cover runs alongside Your finance agreement for up to 60 months.
  3. Can pay out up to a maximum of £10,000.
  4. Includes up to £4,000 of rollover finance within the overall settlement.
  5. Includes up to £1,500 of insurance premium within the overall settlement.
  6. Allows You to fulfil Your outstanding Vehicle finance commitment.
  7. Available on any finance agreement of £25,000 or less.
 
What is not covered - important exclusions
 


Your Insurance does not cover: -

  1. Any claim where the Total Loss is not subject to an indemnity under the accidental damage, fire or theft sections of the Motor Insurance Policy
  2. In respect of any excess deducted under the Motor Insurance Policy.
  3. Any claim where the Total Loss arises as a consequence of war, riot, civil commotion or terrorism.
  4. Any claim where the Total Loss is caused by an accident when the driver of Your Vehicle is under the influence of alcohol or drugs not prescribed by a registered medical practitioner or drugs prescribed by a registered medical practitioner in respect of which a warning against driving is given.
  5. Any loss of use of Your Vehicle or any consequential loss of any kind.
  6. Any claim where the Total Loss occurs outside the Geographical Area.
  7. Any claim which is the subject of fraud or dishonesty.
  8. Any claim where the loss is covered by any other insurance or warranty.
  9. Theft committed by any person who has access to keys of Your Vehicle.
  10. Radioactive contamination from ionising radiation or contamination from any nuclear fuel or from any nuclear waste arising from burning nuclear fuel, or the radioactive, toxic, explosive or other dangerous effect of any explosive nuclear equipment or part of that equipment.
  11. Any claim where You have the option to receive a replacement vehicle under the terms of Your Motor Insurance Policy in respect of the Total Loss of Your Vehicle. (You can transfer the balance of any cover to the replacement vehicle on request).
 
Your Insurance will not cover: -
 
   
a).  
Your Vehicle if it is not shown in Glass's Guide.
b).  
Your Vehicle if it is manufactured by Aston Martin, Bentley, Ferrari, Lotus, Maserati, Rolls Royce or TVR.
c).  
Your Vehicle if it is an emergency vehicle, used for hire and reward (for example, but not limited to, use as a hackney carriage), bus, truck, heavy goods vehicle, motorcycle or invalid carrier.
d).  
Your Vehicle if it is used for road-racing, rallying, pace-making, speed testing, or any other competitive event or is driven by any person not holding a valid, current licence to drive Your Vehicle.
e).  
Your Vehicle if it has been modified other than in accordance with the manufacturer's specification.
f).  
Your Vehicle if it is a commercial vehicle over 3,500 kg GVM.
GAP Protection  
 
Caring for customers
 


If You have a problem
Our aim is to provide the highest level of service to You at all times in dealing with all aspects of Your Insurance. If You feel We have not achieved Our aim, please inform Us. Your feedback enables Us to monitor and improve the service We provide.

In the first instance, please contact Our Customer Services Manager either by telephone on 08707 559 613, or by e-mail to customerservices@AAwarranty.co.uk. Alternatively write to them at AA Warranty, Warranty House, Savile Street East, Don Valley, Sheffield, S4 7UQ.

Please ensure You quote Your Insurance number in all correspondence and enclose any evidence or documentation You wish Us to consider in reviewing Your complaint.

We will do Our best to resolve Your complaint quickly and with the least inconvenience to You, ideally within 5 working days. We will keep You informed of the progress of Your complaint if We require time to investigate.

On receiving Our answer You may, if You are not satisfied, appeal in writing to The Underwriting Director, Motorway Direct, Warranty House, Savile Street East, Don Valley, Sheffield, S47UQ.
Please make sure any new evidence or information is enclosed.

We expect complaints to be quickly and satisfactorily resolved at this level, however You can take the matter further by writing to The Claims Team Leader, Hitachi Capital Insurance Europe Ltd., 2 Apex View, Leeds, LS11 9BH, who will arrange an investigation into the matter on behalf of the Executive Directors.

If You have still not received a satisfactory response, or Your complaint has not been resolved within eight weeks of Our receiving it, You may refer Your case to the Financial Ombudsman Service, set up by the Financial Services Authority to review unresolved Complaints. They can be reached at: The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone 0207 964 1000, e-mail: enquiries@financial-ombudsman.org.uk.
   
 
Cancellation
 

You may cancel this Insurance within 14 days of the Conclusion Date provided that You have not made a claim, and obtain a full refund by contacting Our customer services department. After 14 days You may cancel this Insurance but no refund of premium is available and any outstanding premium instalments must be paid in full.
   
Important notice:
Please note that an Insurance Summary does not contain the full terms and conditions of the Insurance product. Full terms and conditions can be found in the Insurance document.