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Motorpoint Asset Protection Key Information Document

This information is provided to assist you in making an informed decision when purchasing Motorpoint Asset Protection. Important aspects of your Motorpoint Asset Protection Insurance policy are detailed below, which you should read carefully.

In line with guidance from The Financial Conduct Authority, we would like to give you the time to consider whether you could benefit from this cover. 

You will have received a policy summary document showing the key features benefits and exclusions to the Motorpoint Asset Protection policy made available to you. It is important that you read this information to ensure that you can and will continue to meet any eligibility criteria before deciding to purchase. 

The purchase of Motorpoint Asset Protection Insurance is optional. 

You should be aware that similar products may be available elsewhere to purchase directly. 

The price and duration of available policies are detailed on the attached policy schedule. 

Our sales consultants will be happy to answer your questions or clarify the policy benefits and exclusions. However, as with any insurance policy, you should confirm that the cover levels of alternative facilities are suitable for your needs. 

Due to Financial Conduct Authority regulations we are unable to conclude the purchase of this policy until 2 clear days have passed following your receipt of the information outlined in this document. 

Alternatively we are able to conclude the purchase of this policy the following day after your receipt of the information outlined in this document, when initiated by you and subject to obtaining your confirmation and consent.

Consider the significant benefits of Motorpoint Asset Protection

Imagine your vehicle is declared a write-off by your insurer due to an accident, flood, fire or theft. Now imagine discovering that your insurance company settlement will not match the original price you paid for your vehicle. This is a scenario faced by motorists every day. Even if you are not liable, you are almost certain to find a shortfall between the amount you receive in settlement and the price you originally paid. This shortfall could be a significant sum depending on the market value offered by your insurer at the time of the total loss.

Who will protect you against this financial loss?

For peace of mind and for the protection your vehicle needs, consider the cover Motorpoint Asset Protection can offer.

How Motorpoint Asset Protection works

Motorpoint Asset Protection incorporates Return to Invoice cover (or RTI) and Finance Guaranteed Asset Protection (or Finance GAP). 

RTI is designed to pay-out any difference between the settlement made by your motor insurance company and the price you originally paid for the vehicle. 

If your vehicle is written off, Finance GAP pays the difference between the settlement made by your motor insurance company and the amount you still owe on your finance agreement. 

Motorpoint Asset Protection covers you however you paid for the vehicle and will pay out the greater of the Finance GAP or RTI amount, up to the purchase price of the vehicle. However, there are specific exclusions (please see below). 

The following information confirms important aspects of your policy. You should read and understand them and ensure that you can and will continue to meet any eligibility criteria before deciding to purchase.

Significant Benefits (What is covered?)

Policy duration - (terms and conditions – Section 11 ‘Period of Insurance’)

Cover is available for varying durations, depending on your requirements and according to the terms of your finance agreement. Cover ends earlier in the event of a paid claim or if the vehicle is no longer in your possession. 

Excess – (terms and conditions – Section 3 ‘What Is Covered’) 

Provides a contribution of up to £250 towards your insurance policy excess. 

Claim Limit – (See Policy Schedule)

Please refer to the price matrix below. 

Vehicle accessories covered – (terms and conditions – Section 11 ‘Vehicle’) 

As long as accessories are fitted by the dealer and are manufacturer approved, we will cover up to £1500 of extras. Manufacturer fitted accessories are covered. 

Transferable – (terms and conditions – Section 5 ‘Conditions and Limitations’ (5.3)

If during the first year of cover, the vehicle is written off and you get a replacement vehicle on a “new for old” basis, you can transfer the remaining duration of the policy to your replacement vehicle free of charge. You may then subsequently, at any time, transfer any remaining period of insurance on the policy due to a further change of vehicle, on payment of an administration fee of £35, as long as the replacement vehicle falls within the price range specified in your policy schedule. 

Cancellable – (terms and conditions – Section 6 ‘Cancellation’) 

If, for any reason, you wish to cancel your policy and you do so within 30 days, and no claim has been registered with AutoProtect during this time, we’ll give you a full refund. After that, you may still cancel at any point, subject to a £35 administration fee. You will receive a pro-rata refund which will reflect the length of the term remaining. 

Simple to arrange 

Your sales consultant will be happy to answer any questions you may have and confirm your eligibility for Motorpoint Asset Protection.


IMPORTANT: Motorpoint Asset Protection insurance is subject to terms and conditions. You should note that there are certain limitations in terms of the maximum amount you may claim.

Significant Exclusions (What is not covered?)

As with all insurance policies there are some circumstances for which Motorpoint Asset Protection will unfortunately not cover you. 

Importantly 

You must have in place a fully comprehensive motor insurance policy issued by an authorised UK motor insurer which insures against accidental loss and or damage to the vehicle throughout the period of insurance. 

In the event your motor insurer rejects your claim and a settlement payment is not made you will not be covered by this policy. 

Vehicle Exclusions – (terms and conditions Section 4 ‘What is not covered’) 

We are unable to cover all vehicle types. You will be excluded from the benefits of this policy if:

  • The vehicle has been modified in any way from the manufacturer’s specification.
  • The vehicle is used for hire or reward, i.e. taxis or courier vehicles. Alternative products may be available from your supplying dealership that can provide cover for these vehicles. Please ask your supplying dealership for further information.
  • The vehicle will be used for a competitive event.
  • The vehicle is heavier than 3500kg gross weight.
  • The vehicle is listed in the specifically excluded list; some prestige vehicles and sports cars are excluded:
    Including, but not limited to, Aston Martin, Bentley, Honda NSX models, Lamborghini, Rolls Royce, and kit cars.
  • Any total loss due to your negligence or deliberate action.
  • Any total loss as a result of an accident where the driver of the vehicle is under the influence of alcohol, drugs not prescribed by a registered medical practitioner, or drugs prescribed by a registered medical practitioner where a warning against driving has been given. 

Negative Equity – (terms and conditions – Section 4 ‘What is not covered’ 4.7)

 Which means any sum outstanding from a previous finance agreement, transferred to the new vehicle finance agreement. 

Tax - (terms and conditions – Section 4 ‘What is not covered’ 4.10) 

Any recoverable Value Added Tax (VAT) where you are VAT registered. 


For full benefits and exclusions, please refer to sections titled ‘What is covered?’ and ‘What is not covered?’ of the policy terms and conditions which will be provided on request or before conclusion.


Motorpoint Asset Protection Pricing

Vehicle Invoice Price36 month term48 month term
Up to £15,000
includes IPT
£329£479
£15,001 to £50,000
includes IPT
£399£549