FINANCE & OFFERS
OUR INSURANCE PRODUCTS
Designed to meet the specific needs of the Lexus driver, our insurance products will protect your investment, keep your Lexus in immaculate condition and could save you money.
ASSET PROTECTOR INSURANCE
Lexus Asset Protector, also known as GAP insurance, is a great way to protect your investment if your car is written off or stolen. It’s quick to arrange and should you need to claim, could provide a valuable benefit to you. Lexus Financial Services can offer you Asset Protector for up to 36 months* from the date you take delivery of your vehicle.
If your vehicle is written off, Asset Protector could help you cover the shortfall in funds to cover the cost of a new Lexus or settle any outstanding finance.
*Plus additional limited cover in months 37 to 48 if your vehicle is subject to a finance agreement with a term greater than 36 months.Benefits
Asset Protector may enable you to purchase a similarly priced vehicle or alternatively pay off the amount outstanding on your finance agreement. What’s more, even if the finance settlement amount is greater than the Net Invoice Price, you don’t need to worry, as Asset Protector will cover this additional amount. For more information, please download the Asset Protector brochure or speak to your local Lexus Centre. In addition, if your vehicle is subject to a finance agreement in months 37 to 48, Asset Protector could cover any shortfall between the finance settlement figure and the Market Value if your vehicle is written off.An example of how Lexus Asset Protector worksNet Invoice Price £22,000
This is the vehicle cost. The amount that you have paid, as it relates to the vehicle itself, it does not include non-dealer fitted options and extras such as the Road Fund Licence or negative equity.Typical Market Value £13,000
This means that greater of: a) The value of the Insured vehicle (excluding contents) at the Date of Loss as assessed by the insurers of Motor Insurance; or b) The Market Value of the Insured Vehicle (excluding contents) at the Date of Loss by reference to Glass’s Guide Retail Value.Shortfall £9,000
This is the amount that Asset Protector could pay to recover the cost of your vehicle. Please note: if the finance settlement figure is greater than the Net Invoice Price, the benefit will be calculated at the difference between the finance settlement figure and the market value. This will then be paid directly to your finance company.
FREQUENTLY ASKED QUESTIONS
If there is more than one regular driver of my car, will they each need a separate policy?
No. The owner of the vehicle can take out Asset Protector and the vehicle will be covered when driven by other drivers as long as they hold a valid licence to drive the insured vehicle and are legally entitled to drive it.
Am I covered if I drive my car abroad?
Yes. The cover is for vehicles used principally in the UK but you are covered in any country that is a member of the European Union at the time of loss, plus Iceland, Liechtenstein, Norway, Croatia and Switzerland.
Can I use my car for work and still be covered?
Yes, you can use your car for work provided it does not involve hire and reward.
Exclusions include but are not limited to, taxi, courier services and private hire. Pace making, racing, speed testing and reliability trials are also excluded.
Is the policy renewable after the initial term?
No, the policy is not renewable after the initial term.
How do I make a claim?
As soon as possible after the incident resulting in your car being written off, you should contact the administrator of the policy, Abraxas on 01454 270 200. They will take your details and manage the claim with you.
What happens if I sell my Lexus before the end of the Asset Protector Policy?
If you sell your car before the end of the policy, you can cancel the policy and obtain a partial refund to reflect the remaining term of the policy less an administration charge. The remainder of the policy is not transferable to your new car.
Some insurers will provide me with a replacement car if I write my car off in the first year of ownership. Can I defer the start date of the policy?
The start date will always be the date you take delivery of your new car. However, if you wrote your car off in the first year of ownership and received a replacement
vehicle from your motor insurer, you could transfer your Asset Protector policy to the replacement vehicle, subject to certain conditions and an administration charge.
Can I transfer my Lexus Asset Protector Policy to another vehicle?
If your new car is written off within 12 months of purchase, and your motor insurer provides you a replacement vehicle rather than a monetary settlement, your policy can be transferred to the replacement vehicle subject to certain conditions and an administration charge. The policy cannot be transferred to another vehicle in any other circumstance.
How long do I have to make decision on taking out Lexus Asset Protector policy?
You have up to 30 days from the delivery of your car to purchase the cover from your local Lexus Centre.
If I sell my Lexus, can my policy be transferred to the new owner?
Your policy cannot be transferred to the new owner if you sell your vehicle before the end of the policy term. However, you can cancel the policy and receive a partial refund to reflect the remainder of the policy term less an administration charge.
LEXUS SMART COVER
There’s a reason why your Lexus looks immaculate. The hour upon hour of Takumi craftsmanship invested, including the fine art of wet-sanding by hand, to create the unmistakable Lexus mirror smooth finish. Naturally, we want to help you keep your Lexus looking that way. After all, every Lexus deserves to be cherished, and Lexus SMART Cover is the intelligent way to help maintain its value– and your pride in its pristine condition.Benefits
Lexus SMART (Small Motor Accident Repair Technology) Cover provides protection against all those scratches, scrapes and dents that are part of driving on today's busy roads. Even someone opening a door in a car park can damage pristine paintwork. Is it worth losing your no-claims bonus for a small repair? Using exact paint matches and a sophisticated Lexus-approved process, an experienced SMART repair technician will carry out the work at your home or place of work, whichever is most convenient. Using specialist tools and equipment, they’ll carefully repair small dents, scuffs and scrapes to help keep your Lexus’ bodywork in exceptional condition.Which panels of my car are covered?- Scratches, scuffs and dents up to 300mm in diameter and 3 mm deep.
- Stone chips up to 5mm in diameter and 1.5mm deep.
- Covers vulnerable panels including front and rear valances
- Professionally repaired to immaculate standards
FREQUENTLY ASKED QUESTIONS
How many claims can I make on my Lexus SMART Cover policy?
There is no limit on the number of claims you can make. However, each individual claim is limited to £500, with a £3,000 claim limit total over the term of your policy.
Do I have to pay an excess?
Yes, there is a £10 excess on each claim, paid on completion of the repair.
Will my motor insurance no-claims bonus be affected if I make a claim?
No. Lexus SMART Cover is completely separate from your motor insurance policy.
How do I claim?
When you become aware of any minor damage, this must be reported within 30 days by contacting the Claims line on 0800 077 8713. The claims team will talk you through the simple steps to assess your claim and arrange your repair. Alternatively, use the SMART insurance app for iPhone or Android.
Does the policy cover damage to other vehicles?
Only the vehicle detailed on the policy schedule is covered.
Who is covered by the policy?
The policy covers damage to your car irrespective of the driver.
How are commercial vehicles valued in the event of a claim?
If your commercial vehicle is written off, any claim payment would be calculated using the original purchase price and market value (both exclusive of VAT) at the time of the write off.
Who underwrites Lexus SMART cover?
Red Sands Insurance Company (Europe) Limited (“Red Sands”), Level 3, Ocean Village Business Centre, 23 Ocean Village Promenade, Gibraltar. Registered in Gibraltar No 87598. Authorised and regulated by the Gibraltar Financial Services Commission under the Insurance Companies Act 1987 of Gibraltar and is a member of the UK’s Financial Services Compensation Scheme: and Aioi Nissay Dowa Insurance Company of Europe Limited, 7th Floor, The Hallmark Building, 52-56 Leadenhall Street, London EC3A 2BJ. Registered in England and Wales No. 5046406. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority No. 401084.
Is the repair guaranteed?
Yes, all repairs are guaranteed for the lifetime of the vehicle whilst it remains in your possession.
What happens if I cancel my policy?
You can cancel your policy within the first 14 days and receive a full refund, provided no claims have been made. If you cancel after 14 days, you will be entitled to a pro rata refund, provided you have not made a claim. The refund will be subject to an administration fee of £29.99.
What’s not covered under my Lexus SMART Cover policy?
Damage of any kind to wheels, rims or tyres; any panel that is ripped, holed, torn or perforated; damage to beading, moulding, glass, lights or decals, and any damage that occurred before the policy start date.
Can I transfer my Lexus SMART Cover policy?
Yes, the remaining term of your policy can be transferred to a replacement vehicle if you sell the original. There is administration fee of £29.99 to complete the transfer.
How can I get Lexus SMART cover?
Lexus SMART cover can be purchased from participating Lexus Centres when ordering a new or used vehicle. Cover cannot be purchased after you’ve taken delivery of your vehicle.
Designed specially for Lexus drivers, we offer a dedicated insurance policy that provides high quality cover for you and your Lexus. You also have the reassurance of knowing that your Lexus will be restored to its pre-accident condition by experienced technicians using genuine Lexus parts. Many features of our Lexus motor insurance policy simply do not come as standard on less comprehensive car insurance policies. So whether you own a compact, coupé, SUV, saloon or hybrid, you’ll want to protect your treasured investment with insurance specialist who know your Lexus inside out.Benefit
- Courtesy car provided whilst we repair your vehicle.
- 24 hour claims team, based in the UK.
- Uninsured Driver Promise – if you’re hit by one, you won’t lose your no claims discount or have to pay an excess.
- We only use genuine Lexus parts and approved Lexus Repair Centres.
- No claims discount for named drivers on your policy if they take out their own policy with us.
- Complimentary comprehensive cover for up to three days whilst driving in the EU, which can be extended to 180 days for an additional premium.
- Medical expenses cover (£500) and personal effects cover (£500) - plus cover for loss of keys, child seats and for your Lexus original fitted audio and navigation equipment.
For more information, download our Lexus Motor Insurance brochure or contact your local Lexus Centre.
PERSONAL FINANCE PRODUCTS
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We’re proud of our approachable and knowledgeable finance team at Lexus, who are committed to making your experience as seamless as possible. Whether you're considering Lexus for the first time, or you're already a Lexus owner, you can expect a consistent and exceptional standard of service.