Early Termination Insurance

The demand for this product has grown dramatically during the last couple of years. Changes in the company car tax regime have resulted in more people opting out of their company car scheme and buying their own car.

Customers recognise the risks involved and wish to protect themselves, particularly in case of redundancy. In these circumstances they may wish to terminate their contract. Early Termination Insurance gives them the option to do this because it will pay the difference between the market value of the vehicle and the finance settlement figure.

Some underwriters have pulled out of this market recently; our provider has been running this scheme successfully for 12 years and intends to maintain the product with sensible terms and pricing.

We have developed schemes for financiers, dealer groups and non-motor related companies who provide it to their employees as part of their company car opt out schemes on a mandatory and optional basis.