If your vehicle is ever stolen, written or in an accident, or declared a total loss by your insurance provider, Total Loss Asset Protection steps in to help reduce the financial impact. While your car insurance covers the current market value, it may not cover what you initially paid or what’s left on your finance agreement.
*The amount that you have paid for the vehicle itself, excluding non-dealer fitted options and extras such as the road fund licence, or negative equity
**Motor Insurance Excess is the excess amount stated on your certificate of motor insurance, this is paid as part of your claim and is only paid once during the term of the Lexus Total Loss Asset Protection policy
***Paid as part of your claim and only paid once during the term of the Lexus Total Loss Asset Protection policy.
Please read the policy document for full eligibility criteria.
Here are some of the policy's key exclusions. For a complete list, please refer to your Policy Wordingdownload (pdf( (Opens in new window).
Some policy features may also be included in cover you have elsewhere. If this is the case, you'll only be able to claim for these elements once, from one provider.
This is the figure paid to you by your motor insurance company, following a total loss.
Your motor insurer will likely calculate this as the market value of the insured vehicle (excluding contents) at the date of loss, based on specialist valuation guides.
This is the amount that the Total Loss Asset Protection policy could pay to help cover the cost of your vehicle.
Note: For months 1-36, if the finance settlement amount is higher than the net invoice price, this policy will cover the difference between the finance settlement amount and the vehicle's market value.
Imagine you bought your Lexus for £20,000, and when it was written off or stolen, it’s valued at £16,500. With Lexus Total Loss Asset Protection, the policy would cover the £3,500 difference, helping you avoid a financial loss.
If your vehicle was financed, the policy can also help pay off any remaining finance balance, so you’re not left paying for a vehicle you no longer own.
Remember, on top of this you could also benefit from:
Insurance Products are arranged by Lexus Insurance Services. Lexus Insurance Services is a trading style of Toyota Insurance Management UK Limited. Registered in England, Company No. 14297877. Registered Oce: 7th Floor, 52-56 Leadenhall Street, Toyota Insurance Management UK Limited is authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 983839.
Lexus Total Loss Asset Protection is underwritten by Novus Underwriting Limited on behalf of Helvetia Global Solutions Ltd, UK Branch. Helvetia Global Solutions Ltd is authorised and regulated by the Liechtenstein Financial Market Authority. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Registerer Number: 454140. Helvetia Global Solutions Ltd is incorporated in Liechtenstein, registration number 0002191766. Helvetia Global Solutions Ltd’s UK branch is registered in England & Wales under UK Establishment number: BR024650. UK Establishment address: 6 Bevis Marks, London, EC3A 7BA.