VRP Insurance Protection undertaken by haven Insurance Company Ltd
Why should I buy VRP ?
Every two minutes a vehicle is stolen
60% of vehicles stolen in the UK are either never recovered or are damaged and written-off.
Vehicle related crime represents 30% of all reported crime in the UK
In 2001 over 500,000 vehicles were stolen or involved in an accident and then written off as total losses by insurance companies.
The Gap?
How often do you hear of people who have their vehicle written off only to find that the "Market value" offered by their Insurance Company is not enough to replace the vehicle with a similar one or pay off any outstanding finance? This is where you need Vehicle Replacement Protection (VRP).
Example of how it works - If your vehicle is written off after 18 months.
Original Purchase Price (excluding extras) £ 13,750
Your Insurance Company pays you £ 8,250
The Shortfall £ 5,500
We pay you £ 5,500
Your shortfall £ NIL
What is VRP?
Vehicle Replacement Protection will provide you with protection against any financial loss you may incur as a result of your vehivle being the subject of a total loss write-off due to an accident, fire or theft.
Whether you have purchased outright or financed your vehicle, in the event of a total loss claim, VRP will pay the differrence between your Motor Insurer's Settlement figure and the Original Net Invoice Selling Price, or the outstanding settlement figure owed to your finance company, up to a maximum of £25,000.
Car up to £75,000*
Up to 48 months cover on VRP
Pays out up to £25,000
Pays up to £250 Compulsory Insurance Excess
Can I Buy VRP?
Is your vehicle less than 8yrs old?
Is your vehicle invoice price less the £75,000* (inc. factory fitted options)?
Do you have Fully Comprehensive Motor Insurance?
Have borrowed money to purchase your vehicle (not mandatory for VRP)
*Vehicle purchase price not to exceed £25,000 where the claim limit is £5,000 or £50,000 where the claim limit is £10,000 or £75,000 where the claim limit is £25,000 (inc. factory fitted options only).
