Bike Asset Protection Scheme...

Did you know that if your motorcycle is written off as a total loss through an accident, fire or theft, most motorcycle insurance companies would only pay out the current market value of your motorcycle and not the original purchase price of your motorcycle when you bought it?

GAP ASSET PROTECTION IMAGE

For example, if a motorcycle costing £8,000 was written off after 12 months, most motorcycle insurance companies would pay out the current market value, which might only be £6,500. If you wanted to then replace your motorcycle with one of similar value, you would have to find the difference.

Or, if you had taken out finance to spread the cost of paying for your motorcycle, then you could find that the amount received from your motorcycle insurance company was less than the amount you still owed on your finance agreement.

In either event, you could be out of pocket – this is where either AutoTrust Motorcycle Asset Protection or Mapfre GAP policies could help you.

If your motorcycle is written off and a settlement offer is made by your motorcycle insurer (or 3rd party through an accident management company), we will pay you the difference between the amount paid out by your motorcycle insurer (or 3rd party through an accident management company) and the original purchase price you paid for your motorcycle.

If your motorcycle is subject to a finance agreement and the early settlement amount is greater than the original purchase price you paid for your motorcycle then we will pay you the difference between the amount paid out by your motorcycle insurer (or 3rd party through an accident management company) and the finance early settlement amount. Any payment will be paid directly to the finance company on your behalf, and if there are any excess funds, these will be sent to you directly.

Whether you have purchased your motorcycle on finance or not, AutoTrust Asset Protection could return you to the original position you were in when you first purchased your motorcycle. The charts below illustrate how much AutoTrust Asset Protection could pay out if you purchased a motorcycle for £8,000 and it was written off in either the 1st, 2nd or 3rd year of your policy.

Chart 001

Chart 2

Further Excess Cover Option…

While the first £250 of your motorcycle insurance excess is covered as standard within the AutoTrust Asset Protection claim pay-out in the event of a total loss, you can select to pay an additional premium to increase this excess cover up to £500.

Maximum Benefit Levels…

The maximum cover period of AutoTrust Motorcycle Asset Protection is 36 months.

Your benefit level will be stated in the schedule which will accompany your AutoTrust Asset Protection policy.

The maximum benefit levels for claims are as follows…

Motorcycle Purchase PriceAuto Trust Asset Protection Maximum Benefit
£0 – £10k Total Invoice Value :UNLIMITED
£10,001 – £15k Total Invoice Value :UNLIMITED
£15,001 – £25k Total Invoice Value :UNLIMITED

A summary of the benefits, exclusions and limitations is included in the Key Facts Section of the brochure on the right…