The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Confused.com Announce an Industry First With Car Depreciation Insurance


PHOTO

AUTO CENTRAL – July 7, 2009: Unless you’ve visited a car sales garage recently, you’ve probably never heard of Gap Insurance (Guaranteed Asset Protection). Well your not alone, it’s a smart policy that the car industry has held very close to it’s chest ...as its also one of their strongest commercial ‘add-ons’ when selling a car.

Confused.com with Future45Ltd, have turned the depreciation busting policy on its head, given it a shake-up and are now delivering it at sensible and affordable premiums direct to the consumer on-line under the heading of ‘Car Depreciation Insurance’.

What is Car Depreciation Insurance?
Quite simply, it’s a very intelligent policy that insures the car back to it’s original value at policy inception should it be written-off through accident or theft at any stage during the chosen term (up to 4 years). Think of it as an affordable compliment running alongside comprehensive cover.

Next to home ownership, few realise that car depreciation is the next biggest expense - far greater than fuel and servicing.

Fact: New or used, cars depreciate in value, a very poignant fact in our current economic climate; in some cases this depreciation can reduce the value to just 30% of the original cost within just 3 years! Car Depreciation Insurance will protect against this with policies starting at £72.

So What’s New?
“Providing the consumer with choice and flexibility was at the top of the list when we designed ‘Car Depreciation Insurance’ with Confused.com” said Andy Bendell, Head of Marketing at Future45Ltd. “We also wanted to remove the perplexity for the consumer with regards to understanding the policy, so we removed the need for a claim limit to be entered which historically has always confused. This also simplifies the online purchase allowing the consumer to insure (freeze) the cars value with just a few clicks”.

What’s innovative and exciting is Car Depreciation Insurance is available through Confused.com on cars that have just been bought or owned up to 7 years, owned outright, on finance, personal loan, contract hire or even on a lease agreement.

In addition, to really provide the consumer with choice to tailor their Car Depreciation Insurance there’s valuable options that include cover to pay the insurance excess; a return to invoice add-on and finance protection option, cover for driving instructors and taxi drivers, and even an inconvenience cover that pays out a straight £500 to help with car rental, replacement of the valuables or anything that helps soften the inconvenience of having your car declared a write-off!

‘Pic ‘n’ Mix’ for the Perfect Cover – With No Claim Limit Needed

  • Available for New and Used Cars
  • Pay Back to Today’s Value
  • Pay Back to the Original Invoice Price
  • Pay the Outstanding Finance
  • Pay the Contract Hire Settlement
  • Pay the Lease Settlement
  • Pay the Insurance Excess
  • Pay an Additional ‘Inconvenience’ sum of £500 on top of the Claim
  • Available for Driving School Instruction
  • Available for cars used for Taxi purposes (not black cabs)
  • No Claim Limit
  • Available for Cars up to 7 Years Old

    About Future45Ltd
    Future45Ltd offers both Car Depreciation policies and Car Warranty policies online and is FSA registered and underwritten by ‘RedSands Insurance’, both are part of the respected Hollard Group of companies.

    RedSands Insurance Company (Europe) Ltd., is a specialist in UK motor related insurance products.

  • Member of The Association of British Insurers (A.B.I.)
  • A voluntary member of the Financial Ombudsman Scheme
  • European Regulated
  • Underwrite one of the UK’s largest Mechanical Breakdown Insurance books
  • Policies are protected by the Financial Services Compensation Scheme

  •