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RTI Return to Invoice Is this product right for you?
Summary of Cover
This summary of cover is provided for ease of reference. It
does not contain the full terms and conditions of the policy,
which can be found in the policy document.
Return To Invoice:
If
your car is stolen or declared an insurance write off, Return to
Invoice we will pay the difference between the insurer's
valuation and the original purchase price of the vehicle.
Name of Insurer:
Red Sands Insurance Company (Europe) Ltd is a company registered
in Gibraltar No. 87598, registered office: Suite 913 Europort,
Gibraltar.
Key
Features and Benefits:
Scope of Cover (see Insurance Cover on your Certificate)
The
policy, for which you or your lender will pay a single premium
and which is for the period agreed at the time of purchase, will
pay you the shortfall between the settlement received from the
motor insurance company and the original invoice price of the
vehicle, up to the sum insured, following the total loss of your
vehicle due to theft or accident
Conditions:
You
are eligible for this cover if ;
you are the registered keeper of the vehicle
you are the owner of the vehicle
you are named as the policyholder in a comprehensive
motor insurance policy covering the vehicle
your vehicle is less than 7 years old and has
covered less than 80,000 miles
your vehicle has a value within the parameters
offered at the time of purchase
Exclusions:
Vehicles modified from the manufacturers
specification
Vehicles used for competition, racing, pace making,
off road use, driving school, transportation of goods, delivery
courier, or designed to carry more than 8 people
Vehicles over 3500kg gross weight
Vehicles owned temporarily by a business formed for
the purpose of selling or servicing motor vehicles
Aston Martin, Bentley, Bristol, Cosworth, De Thomaso,
Dorchester, Ferrari, Fiat Croma, Ginetta, Lamborghini, Lancia,
Maserati, Rolls Royce, and any other American manufactured
vehicle
Vehicles stolen by any person having access to the
keys
Total loss where the driver is unfit to drive
Liability when the motor insurers have declined to
pay for the total loss of the vehicle.
Total loss occurring outside Great Britain, Northern
Ireland, Isle of man, Channel Islands, European Community
countries, and any other country for which an international
motor insurance card is effective in respect of the vehicle.
Duration of Cover:
As quoted on the proposal/policy schedule.
Cancellation:
No
fees are normally charged for arranging policies. However, if
this policy is cancelled within 14 days of receipt of your
policy book, Auto Protect MBI Ltd
will charge an administration fee of £35. (An additional
administration fee of £15 may be charged by your Dealer).
This policy has no
surrender value and no premium paid will be refunded after 14
days.
What to do in the event of a
claim:
All
claims should be notified within 30 days of the total loss to
Red Sands Insurance Company (Europe) Ltd by
telephone on 0870 770 2869. You should notify
Red Sands Insurance Company (Europe) Ltd prior
to accepting any settlement from your motor insurer.
Complaints
If
you wish to register a complaint contact your supplying dealer
or alternatively the policy administrator Auto Protect (MBI)
Ltd.
Telephone:
0870 766 6667
Post: Auto Protect MBI
Limited, Cambridge House,
Cambridge
Road, Harlow, Essex CM20 2EQ
If
you cannot settle your complaint with us, you may be entitled to
refer it to the Financial Ombudsman Service (FOS).
Customer Compensation
Red Sands Insurance Company (Europe) Ltd
are covered by the Financial Services Compensation Scheme, You
may be entitled to compensation from the scheme if it cannot
meet its obligations. This depends on the type of business and
the circumstances of the claim. Insurance advising and arranging
is covered for 100% of the first £2000 and 90% of the remainder
of the claim, without any upper limit. Further information about
compensation scheme is available from the FSCS.
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