Jackson Lee Underwriting (JLU) has today launched a new enhancement to their GAP Insurance policies for brokers’ customers who find themselves ‘wheel-less’ as a result of a Total Loss. The optional consultancy service offers to source a replacement vehicle for customers or can advise on the most appropriate finance or leasing arrangements depending on the individual’s needs.
In the event of a total loss, customers will be left having to arrange for a replacement vehicle. This can be a daunting experience as the automotive sector continuously evolves new funding options for customers. As well as the time, inconvenience and stress this can cause, conventional motor insurance may not cover the full replacement cost of the vehicle, leaving some customers with potentially significant outstanding debt on finance and/or unable to pay for a replacement vehicle. With commercial vehicles this could also be business critical.
The new service offers access to a wide range of used and new vehicles, managed by Vehicle Replacement Network in conjunction with Vertu PLC the UK’s fourth largest motor dealer group which can help to source a suitable replacement vehicle and find the best finance deal to get customers back on the road as soon as possible.
JLU is offering this service to brokers and believe it encourages valuable customer loyalty in the existing broker / client relationship.
Nick Mohan, joint Managing Director at Jackson Lee Underwriting, comments: “In an increasingly competitive marketplace there is so much more pressure to deliver something new and outstanding which will help keep customers loyal. In our experience of providing GAP Insurance for over 25 years, we have seen changes in the automotive sector which the motor insurance industry has not addressed. It is a constant frustration how motor insurers handle total losses in many instances leaving a customer confused and immobile. We are delighted that we can offer this new service to brokers who may be dealing with customers who need to get up and running after a total loss has occurred, as soon as possible. For commercial vehicles it can be absolutely crucial that drivers are back on the roads straightaway as loss of earnings, particularly when self-employed, can mean big problems on the balance sheet.”
He continued: “By addressing the issue of vehicle replacement, we will take away the headache of sourcing a new vehicle and a finance deal where required, which means the customer can trust they will get the right vehicle for them with a suitable finance arrangement and can focus on getting their lives back to normal.”
For further information or interviews, please contact:
SJ Wrigley at Spotlight Consulting on 07909546104 or sj@spotlightconsulting.co.uk or
Sophie Johnston at Spotlight Consulting on 07971563246 or sophie@spotlightconsulting.co.uk
About Jackson Lee Underwriting
Jackson Lee Underwriting is an MGA celebrating 25 years in business this year with offices in London, Devon and Warwickshire. It is the BIBA approved GAP scheme provider and Leisure scheme provider and specialises in bringing a broad range of innovative niche insurance products to the broker market.