Retail Price Protection & Tyre Insurance

Retail Price Protection Gap Insurance covers the financial difference between the motor insurers settlement figure for your vehicle (market value) and the original purchase price paid for your vehicle.

Think Facts

400,000 – 500,000

Number of vehicles which are declared insurance write-offs each year. These statistics incorporate accident damage, fire damage and theft

213,616

Number of vehicles stolen in England and Wales between
Apr 2005 and Mar 2006

507,258

Thefts from motor vehicles between Apr 2005 and Mar 2006
10,000

Numbers of carjackings in the UK each year
(Data supplied by Home Office www.crimestatistics.org.uk)
2,734,360

Number of vehicles sold in 2006 in the UK (Data supplied by www.smmt.co.uk)

Retail Price Protection

Significant Features and Benefits of the Policy:

In the event of a total loss this policy pays the difference between your comprehensive motor insurance settlement and the invoice price you originally paid for the vehicle subject to a maximum of 110% of Glass’s Guide Retail Value. Specified limit will apply dependent on the level of cover chosen.
In addition, if the amount required to clear your finance agreement exceeds the original purchase price this policy will pay the difference between these two amounts.

Significant Exclusions or Limitation of the Policy:

This insurance does not apply to the following:
• Any total loss that is not the subject of an indemnity of your comprehensive motor insurance policy
• Any vehicle used for hire or reward, driving school tuition, chauffeur or courier services, racing, pace making, speed testing or competition
• Any total loss occurring when the driver of the vehicle is unlicensed, intoxicated by alcohol or under the influence of drugs.
• Vehicles stolen by any person who has access to the keys to the vehicle
• The maximum amount payable by this policy is either £10,000, £15,000 or £20,000 dependant on the chosen cover.

Tyre Insurance

Tyre Insurance will insure four tyres plus the spare (if fitted), up to £250 per tyre if they are damaged and need replacing or repairing.
 

Significant Features and Benefits of the Policy:

This policy indemnifies the policyholder against costs
in respect of a maximum of four tyres plus one spare tyre
(if fitted) which require repair or replacement as a result of damage. 
Up to a maximum of £250 per tyre with a total amount claimable during the period of insurance of £1,000.

Significant Exclusions of Limitation of the Policy:

This policy does not cover the following:
• Wear and tear generally
• The first £10.00 of any tyre repair or replacement
• Tyres which are fitted to vehicles that have been modified in any way or  used for competition, racing, hire or reward, off road use, driving school,  transportation of goods, delivery courier
• Damage caused by incorrect wheel alignment
• Tyres which have a tread depth of less than 2mm
• Tyres which are not ‘E’ marked (a European recognised
 quality mark for tyres)

This document is a policy summary only and does not detail the full terms and conditions of the insurance contract. Please refer to the Sunwin Customer Care Handbook to make sure you understand what is covered and the full terms and conditions of the insurance policy.