Your motor insurance may only cover the market value of your vehicle. TLP will make up the shortfall back to the original invoice price or pay off your finance early settlement amount... whichever is the greater.
If you change your mind having purchased TLP you may cancel your policy within 30 days of receiving it by contacting the selling dealer, provided you have not registered a claim. A full refund will be given After 30 days you may cancel at any time by following the procedure in the policy document. A refund will be provided in accordance with policy conditions.
Claims should be notified within 90 days of the Total Loss to the Administrator, AutoProtect (MBI) Limited. Follow the claims procedure contained within the policy document.
We hope that you are satisfied with the service we provide but if you have cause for complaint please refer to the policy document. If you remain unsatisfied, you also have the right to ask the Financial Ombudsman Service to review your case:
The Financial Ombudsman Service:
Exchange Tower, London E14 9SR.
Telephone: 020 7964 1000.
In the event that the Insurer, Acasta European Insurance Company Limited, is unable to meet its liabilities you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS). Further information can be found in your policy under “Financial Services Compensation Scheme”.
Although your motor insurance gives you invaluable protection, does it give you all the cover you need if your vehicle is stolen or written off? Many motorists have found that their motor insurance lets them down just when they need it most. That’s because your motor insurance may only cover the current market value of your vehicle, the amount you originally paid is likely to be much higher. Total Loss Protection (TLP) is a simple “top up” to your current motor insurance.
TLP is available on all new and used vehicles up to 10 years old and 100,000 miles.
Red Sands Insurance Company (Europe) Limited is registered in Gibraltar Reg. No: 87598. Registered office: Level 3 Ocean Village Business Centre, 23 Ocean Village Promenade, Gibraltar. Red Sands Insurance Company (Europe) Limited is authorised and regulated by the Gibraltar Financial Services Commission and is subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority in respect of business underwritten in the UK (FRN: 231635).
Terms, conditions, limitations and exclusions apply. A copy of the full policy wording is available on request.