AutoTrust Asset Protection Frequently Asked Questions
Find answers to the most Frequently Asked Questions by selecting the relevant question below.
What level of motor insurance do I need?
It is a requirement of AutoTrust Asset Protection that you must have fully comprehensive motor insurance in place for the duration of your policy.
Why must I contact you first before accepting a settlement from my motor insurance company in case of a claim?
In the event of a total loss, you must not accept any offer from the motor insurer without AutoTrust Asset Protection Administration's approval (contactable on 0844 573 8069). If you accept an offer of settlement from the underwriters of the motor insurance policy of less than the current market value of the vehicle without our approval then AutoTrust Asset Protection Administration reserve the right to assess the loss at the current market value at the date of the total loss.
You say that the market value of my vehicle is as defined in Glass’s Guide Retail Value. What exactly is Glass’s Guide?
Glass’s produces the leading British guide to used vehicle prices (the Glass’s Guide). Glass's observes and records well over 1 million vehicle sale prices from a wide range of sources every year to deliver the most widely trusted valuations in the market. This is a trade guide and is widely used by motor dealers, insurance assessors and finance houses across the motor industry.
I am interested in taking out Asset Protection; however the vehicle I am purchasing is for someone else – not for me. Is it still possible to take out AutoTrust Asset Protection for this vehicle?
Yes, your vehicle will still be covered subject to the person being named on the motor insurance policy for the vehicle. Please refer to the Policy Document for the full terms and conditions.
Can I cancel my policy at any time and get a refund?
We hope that you will be happy with your Asset Protection policy. However, if this policy does not meet your needs and as long as you have not made a successful claim, you have 30 days from the date you received your policy documents to cancel the policy and get a full refund. There is no administration charge for cancelling your cover. After 30 days, you may be eligible for a refund of your premium based on how long you have had your AutoTrust Asset Protection policy. There is a £35 administration charge for cancelling the policy. Please refer to the sections entitled ‘Cooling off period’ and ‘Cancelling your cover' for full details.
Where can I find more information about Asset Protection insurance?
If you have any other questions please talk to your dealer in the first instance. Alternatively, the Association of British Insurers has produced a useful Consumer Guide on GAP Insurance, which is available to download from their website at www.abi.org.uk