Defaqto to launch GAP product
A new Defaqto guaranteed asset protection (GAP) product is being launched across the RAC Dealer Network in Q3 of this year.
Created in conjunction with The Warranty Group, now part of Assurant, it is designed to offer GAP coverage commensurate with the standard and ethics expected of the RAC brand.
There are no restrictions over vehicle age and mileage, the minimum claims settlement is to the purchase price of the vehicle, cover extends to a maximum value of £50,000, the duration of cover runs from 36-60 months and the policy can be transferred in cases where the customer’s vehicle is replaced. It also meets contract hire terms in full including the final settlement figure.
Sean Kent, sales director at the RAC Dealer Network, which partners with The Warranty Group, now part of Assurant, said, ‘There has been quite a lot of negative publicity around dealer GAP products over the last few years but the fact remains that GAP is a genuinely useful product that is demanded by dealers and their customers.’
There are currently more than 1,300 members of the RAC Dealer Network and the range of value added products that they sell is gradually increasing.