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Combination GAP (RTI) Cover Policy Summary

This policy summary does not contain the full terms and conditions of the contract which can be found in the policy document

Insurer
UK General Insurance Limited on behalf of: Ageas Insurance Limited, Registered in England No.354568. Registered Office: Ageas House, Hampshire Corporate Park, Templars Way, Eastleigh, Hampshire, SO53 3YA. UK General Insurance Limited are authorised and regulated by the Financial Conduct Authority. Ageas Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

What is Combination Guaranteed Asset Protection Cover?
If your vehicle is written off, Combination GAP Insurance (RTI) will help buy a replacement vehicle of similar value by paying the difference between the insured value of your vehicle and (a) the purchase price of your vehicle as confirmed by the net invoice for its purchase; or (b) the amount of your finance agreement early settlement figure, if greater.

What is the Net Invoice Selling Price
The purchase price of the vehicle (including factory and dealer fitted accessories endorsed by the manufacturer) including any discount given, but excluding any warranty, new vehicle registration fee, any insurance premiums, road fund licence, fuel and paintwork protection applications, any arrears or negative equity transferred from a previous agreement.

What is the finance agreement early settlement figure?
The balance payable to the finance company that helped you buy the vehicle, but excluding: the amount of carried over from a previous finance agreement, credit protections insurance, credit facility fees, title discharge fees, documentation fees, additional interest charges, arrears and any other finances amount not related specifically to the insured vehicle.

Eligibility
You will be eligible for cover provided you have purchased and are the registered keeper of a car or light commercial vehicle (LCV) weighing less than 3,500kg, (GVW), which:

  • Fully comprehensively insured on the vehicle and will be throughout the term of cover.
  • Purchasing a car with an invoice price of up to £50,000.
  • The registered keeper of the vehicle.
  • Using the vehicle principally in the UK, Ireland, Channel Islands or the Isle of Man and for no more than 60 days in member countries of the EU.
  • Not purchasing a vehicle weighing over 3.5 tonnes.
  • Not using the vehicle as a taxi, emergency vehicle or for private hire.

What are the benefits and features of Combination GAP Cover?
If your vehicle is written off due to an accident, fire or theft, Combination GAP will pay the difference between the insured value of your vehicle and (a) the purchase price of your vehicle as confirmed by the net invoice for its purchase; or (b) the amount of your finance agreement early settlement figure, if greater (subject to certain exclusions). Combination GAP will also cover up to £250 in respect of any vehicle insurance policy excess you have had to pay to the vehicle insurer as part of your total loss claim. For full details of the benefits and features of the cover, please refer to the policy document.

What am I NOT covered for under Combination GAP cover?
There are some situations that you are not covered for. The most significant exclusions of the policy are set out below, but there may be other exclusions that are significant to you, so you need to check the policy document for full details. Benefits will not be paid if your vehicle is:

  • Used for racing, rallying or competition of any kind;
  • Used for hire or reward (excluding taxis) or as a courier/delivery vehicle, invalid carriage or driving instruction vehicle;
  • Not covered by a comprehensive motor insurance policy for the full duration of the GAP insurance;
  • Left unattended unless the doors have been locked and the keys have been removed from the vehicle, and all security devices and immobilisers have been activated and are in full working order; or
  • Written-off while you or a person with your consent to drive the vehicle is under the influence of alcohol or drugs.
  • For the full list of exclusions, refer to the policy document.

Limits of cover
Benefit will not be payable in respect of:

  • Any amount deducted by the comprehensive motor insurer because of your contributory negligence or the condition of the insured vehicle; and
  • The VAT element of any claim where the VAT element of the purchase price has been recovered as part of a VAT return by you or the company.

How long does my Combination GAP contract run for?
Various policies are available for Combination GAP covering periods from 12 months up to a maximum period of 48 months, but will end earlier on/if;

  • The date on which benefit is paid under this insurance cover;
  • The date on which you sell or otherwise dispose of the insured vehicle; or
  • The date on which you cease to have a comprehensive motor insurance policy in place covering the insured vehicle.

Premiums
You will pay the premium and, subject to the terms and conditions of the policy, be covered from 12 months up to a maximum period of 48 months from the start date, depending on the level of cover you have purchased. You must pay the premium on or before the start date for this policy to remain valid. Please refer to your policy schedule for the level of cover you have purchased and the duration of your cover.

What happens if I take out cover and then change my mind?
You can cancel your policy at any time. If you cancel the policy within 30 days of issue, you will receive a full refund of any premium you have paid, provided you have not made a claim. If you cancel outside the initial 30 day cooling off period, any refunds will be made on a pro-rate basis (less a £35 cancellation fee) providing you have not made a claim. Please refer to your policy document. To cancel, please contact: Qdos Broker & Underwriting Services Limited, Windsor House, Troon Way Business Centre, Humberstone Lane, Leicestershire, LE4 9HA. Telephone: 01455 852110.

How do I make a claim under Combination GAP?
Please contact the Claims Department by calling 01455 852110, or by writing to: Claims Department, Qdos Broker & Underwriting Services Limited, Windsor House, Troon Way Business Centre, Humberstone Lane, Leicestershire, LE4 9HA.

IMPORTANT:
The policy requires you to use your best endeavours to obtain the maximum settlement under your comprehensive motor insurance policy. If you accept a settlement offer that is less than the current market of your vehicle, we may reduce the amount we will pay. You should not therefore accept any settlement offer made by your vehicle insurer until you have contacted our Claims Department.

Our Right to Cancel
We may cancel he policy at any time by giving 14 days notice in writing where there is a valid reason for doing so. A cancellation letter will be sent to you at your last known address. Provided the premium has been paid in full you will be entitled to a proportionate rebate of premium respect of the unexpired period showing on the insurance.

Replacement Vehicles
If the original insured vehicle suffers a total loss within 12 months of the start date and the motor insurer replaces that vehicle with another vehicle under the terms of your motor insurance policy, you will be able to transfer this cover to the replacement vehicle. Additional policy conditions will apply. Please refer to your policy document. If you need to transfer your policy, please contact us: Qdos Broker & Underwriting Services Limited, Windsor House, Troon Way Business Centre, Humberstone Lane, Leicestershire, LE4 9HA.

How do I make a complaint?
If you have a problem with the service you receive, you vcan write to the Nominated Complaints Handler, Qdos Broker & Underwriting Services Limited, Windsor House, Troon Way Business Centre, Humberstone Lane, Leicestershire, LE4 9HA. If we cannot resolve your complaint to your satisfaction, you may be entitled to complain to the Financial Ombudsman Service.

Would I receive compensation if Ageas Insurance Ltd were unable to meet its liabilities?
Ageas Insurance Limited is covered by the Financial Service Compensation Scheme (FSCS). If they are unable to meet their liabilities, you may be entitled to compensation from FSC. Further information is available from their website: www.fscs.org.uk