Making sure you don t miss out

Transcription

1 C6164_HF_GAP_BROCHURE 3* 18/8/05 12:09 Page 1 Making sure you don t miss out Gap Insurance from Honda

2 C6164_HF_GAP_BROCHURE 3* 18/8/05 12:09 Page 3 Gap Insurance Funny thing, car insurance. Even with a driving record as clean as new-fallen snow, your premiums never seem to go down. And yet, what your insurance company is prepared to pay out certainly does. If your car is written off or stolen, you won t get the purchase price: you ll get its current value on the open market. And if you want to see the difference between the two, just check the classifieds. All of which seems a bit unfair. But with our exclusive Gap Insurance, you ll get back exactly what you paid. Without anything taken off the top*. *vehicle purchase price - excludes dealer fitted accessories.

3 C6164_HF_GAP_BROCHURE 3* 18/8/05 12:09 Page 4 Here s what usually happens You buy a new car for, say, 14,000. A year later, it gets written off by the insurance company following an accident or theft. In this event, you d be sent a cheque for the current market value: call it 10,000. Which means either finding another 4,000 to buy a similar replacement, or settling for something not quite as good. And what s worse, with every passing year, that shortfall s just going to get bigger. and when you have Gap Insurance You buy the same car for 14,000, and the same misfortune strikes. But as well as the cheque for 10,000 from the insurance company, you get one from us for 4,000, too. Which means you re not a penny out of pocket, and you can replace the car like for like. And with cover for three years, it doesn t matter how much your insurance company slices off: we ll make sure you get what you originally paid, in full. And, if you've bought your car on finance and the finance settlement value is greater than the original invoice price, then we'll pay that for you instead. Another Slice of Cover If you're less concerned about replacing your car and you just want to make sure that the finance is paid off, then Honda Gap Finance Shortfall Insurance may be what you want. It will pay the difference between the write off value from your car insurer and your finance settlement figure. This cover matches the term of your finance agreement up to a maximum of five years. Ask your dealer for more details on this cover.

4 C6164_HF_GAP_BROCHURE 3* 18/8/05 12:09 Page 5 Example If you purchased a new Honda and it was written-off one year later (based on a three year Honda Gap Vehicle Replacement Insurance cover) Invoice Price 14,000 Insurance write-off value 10,000 Shortfall 4,000 Honda Gap Vehicle Replacement Insurance will pay 4,000 Loss to you NIL

5 C6164_HF_GAP_BROCHURE 3* 18/8/05 12:10 Page 6 Handed to you on a plate Honda Gap Insurance is incredibly simple. We think you ll find the decision is, too. We ll pay you the difference between the original purchase price and the amount your insurance company will give you if the car is written off Gap Insurance is available on any new and used Honda vehicle up to seven years old on the day the cover starts You re covered for up to three years We ll pay any shortfall up to a maximum of 15,000 We can arrange cover instantly it s all done in the showroom Once your claim s been sorted, we ll just send you a cheque It s convenient: you can pay the premium in one go when you buy the car, or over 10 months by direct debit We ll even pay any excess on your car insurance, up to 250 Honda Gap Insurance is underwritten by London General Insurance Company Ltd, Combined House, 15 Wheatfield Way, Kingston Upon Thames KT1 2PQ Authorised and regulated by the Financial Services Authority For further details and a quotation, please talk to your Honda dealer.

6 C6164_HF_GAP_BROCHURE 3* 18/8/05 12:10 Page 7 Summary of Cover This is a summary of the Vehicle Replacement Insurance cover provided by your Honda Dealer (please refer back to the status disclosure) as an agent of the insurer. A copy of the full terms and conditions is available upon request. ELIGIBILITY You are eligible to take out protection if on the Policy start date: You are an individual over 18 and are resident (or if a company are registered) in the U.K., Channel Islands or the Isle of Man; The insured vehicle is less than seven years old, has an Original Purchase Price of less than 35,000 and is the sole vehicle listed in the finance agreement (if any); and The insured vehicle is covered by fully comprehensive motor insurance. The following are NOT ELIGIBLE: Vehicles which have an Original Purchase Price of over 35,000, NSX models, parallel imports, grey imports, emergency vehicles, taxis, buses, trucks, HGV s, light commercial vehicles, invalid carriers, or vehicles used for hire or reward, road racing, rallying, pace-making, speed testing, or any other competitive event or any vehicle which has been modified other than in accordance with the manufacturer s recommendations BENEFIT If the insured vehicle is the subject of a total loss within the territorial limits We will pay, up to a maximum of 15,000, the amount by which the original purchase price exceeds the total loss payment under your comprehensive motor insurance policy (or the market value of the vehicle if greater). If you have purchased the vehicle on a finance agreement and after taking into account your total loss payment, the amount owing on the agreement is greater than the difference between the original purchase price and the total loss payment, we will pay this amount to the finance company instead, up to a maximum of 15,000. PLEASE NOTE If we are liable to pay the amount by which the original purchase price exceeds the total loss payment (or market value if applicable) and there is any financial shortfall then we will pay that financial shortfall to the finance company, deducting this from the amount payable to you. IMPORTANT Any payment of benefit under this Policy is conditional upon you having received a total loss payment under your comprehensive motor insurance. This includes any excess up to 250. MAIN EXCLUSIONS The value of any dealer fitted accessories is not considered when calculating the invoice price of any vehicle declared a total loss. If the insured vehicle is not covered by fully comprehensive motor insurance. For any deduction your motor insurer may make in respect to salvage costs. If you are offered a replacement vehicle under the terms of your comprehensive motor insurance. If the total loss occurs outside United Kingdom, Channel Islands or Isle of Man. Please note: cover is extended whilst the insured vehicle is in any country of the EU or EFTA for a period of not more than 30 days in any 12 month period, but only subject to your insurer extending your comprehensive motor insurance during such period. A full list of exclusions is contained within the WHEN CAN YOU NOT CLAIM BENEFITS section of the Policy terms and conditions. GENERAL Law Applicable: Unless agreed to the contrary prior to Policy inception, this Policy shall be subject to English Law. Compensation: You may be entitled to compensation under the Financial Services Compensation Scheme in the event that we are unable to meet our liabilities in full. Claims and complaints: If you have any queries associated with this product including those relating to claims or complaints you may write to London General Holdings Limited at Eaton House, Northolt Road, Harrow, HA2 0EA. Complaints may be referred to the Insurer at their address below. You can subsequently refer your complaint to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR, Telephone , who can also provide you with independent advice. None of the above affects any right of action you may have. Cancellation: You may cancel this cover within 14 days of receiving your Policy confirmation with a full refund providing no claims have been made. If you cancel after such period no refund of premium will be due. Language: This Policy is written in English and all correspondence entered into shall be in English. Policy term: The Policy provides cover for one, two or three years depending on the level of cover chosen. The policy term will be clearly stated on your Policy Schedule. Insurers: The insurer is London General Insurance Company Limited registered number , whose head and registered offices are at Combined House, 15 Wheatfield Way, Kingston upon Thames, Surrey KT1 2PQ. Authorised and regulated by the Financial Services Authority. Special needs: For large print, audio and Braille you can call us on or text telephone /97. Honda Finance Europe Plc is authorised and regulated by the Financial Services Authority for insurance mediation. If you require a large print version of this information, please contact us on

7 C6164_HF_GAP_BROCHURE 3* 18/8/05 12:10 Page 8 What Next? Talk to your dealer to arrange your cover Honda Finance Europe Plc 470 London Road, Slough, Berkshire, SL3 8QY Honda Contact Centre - Telephone A subsidiary of Honda Motor Europe Ltd No Registered in England and Wales HFEGP04 issue date: 08/05