What is Total Loss Protection?
Total Loss Protection is designed to help bridge the gap between what you paid for a vehicle and the insurance pay-out received if it is written off. In the event of the car being declared an insurance write off, this policy will pay up to 25% of the motor insurer’s settlement to cater for otherwise uninsured expenses. Total Loss Protection for Cars will suit the demands and needs of a customer aged 17 or older who owns a car valued at less than £40,000, and who wishes to receive a cash lump sum equating to 25% of a motor insurer’s settlement amount in the event of the total loss of that car, to cater for otherwise uninsured expenses such as a policy excess and/or the value of vehicle contents and/or personal effects and/or any depreciation in the value of that car. For Goods Carrying Vehicles, this will suit the demands and needs of a customer aged 17 or older who owns a goods carrying vehicle weighing no more than 7.5 tonnes Gross Vehicle Weight used to carry your own goods only.
Maximise dealership profit - 2 referral options
GAP Insurance + Add-On Products
In today’s automotive market, customers expect choice and convenience—especially when it comes to purchasing insurance protection. Assurity Solutions provides two options that enables dealerships to offer GAP insurance and add-on products either in the showroom or online direct to Assurity Solutions via our easy to use e-commerce platform. Both seamlessly integrate with existing dealership processes while ensuring full FCA compliance.
Showroom Customer Referral Benefits
Direct Online Referral Benefits
Key Facts
The average car depreciation will fall the hardest in the first year of ownership.
Generally, it will be around 15-35% in the first 12 months*
- Year 1: 15-35% depreciation. 65-85% of original value.
- Year 3: 40-60% depreciation. 40-65% of original value.
- Year 5: 60-70% depreciation. 30-40% of original value.
- Year 8-10: 80% depreciation. 20% of original value.
