Total Loss Asset Protection
Lexus Total Loss Asset Protection is a great way to protect your investment in the unfortunate event that your car is written off. It’s quick and straightforward to arrange and should you need to claim, could provide a valuable benefit to you.
What could happen if your car is written off?
If your car is written off as a result of an accident, fire or theft, your motor insurance company may only pay out the current market value for your vehicle.
The current market value is likely to be less than the amount you paid for the vehicle and if you have finance it could be less than any outstanding finance settlement. This could leave you with the problem of having to find extra funds to get you back into the driving seat of a new Lexus or pay off your finance agreement.
To protect you from this situation, if it arises, Lexus Financial Services can offer you Lexus Total Loss Asset Protection for up to 3 years' cover (36 months) plus additional cover for any finance shortfall after the initial term (up to 12 further months) to match the term of your finance agreement.
Lexus Total Loss Asset Protection helps you cover the shortfall in funds to cover the cost of a new Lexus or settle any outstanding finance, as well as a £300 contribution towards any incidental costs you might incur by way of a Total Loss Assistance Payment. ‡
What's included?
- Up to 3 years' cover (36 months) plus additional cover for any finance shortfall after the initial term (up to 12 further months) to match the term of your finance agreement.
- Vehicles with a Net Invoice Price* up to £100,000 with no maximum claim limit up to the Net Invoice Price* of your vehicle.
- A payment of up to £250 as a contribution towards your Motor Insurance Excess≠
- £300 Total Loss Assistance payment to help with any incidental expenses connected with your total loss‡.
- Factory and Dealer fitted Accessories.
- Finance Deposit Allowances (a discount offered by Lexus Financial Services on certain makes and models from time to time).
- Unlimited mileage
For a full list of what is and is not covered, please refer to the policy wording. Some exclusions are listed below under the frequently asked questions section.
† The Net Invoice Price* the amount that you have paid for the vehicle itself, excluding non-dealer fitted options and extras such as the road fund licence, or negative equity.
‡ Total Loss Assistance is paid as part of your claim and only paid once during the term of the Lexus Total Loss Asset Protection policy.
≠ Motor Insurance Excess Contribution is the amount stated on your certificate of motor insurance up to a maximum of £250.