New Car Insurance Payment Protection Policy
Thursday 13 November 2008
As a result of the economic climate in the UK a new PPI product has been launched in relation to car insurance. It has been introduced by a company called RIAS who specialise in insurance for people aged 50 and over. It involves customers benefiting from a reimbursement of their excess payment in the event of an accident. The company feels that this new product will allow car insurance customers to be secure financially, should they be involved in a road traffic incident. Janet Connor who is the managing director of RIAS feels that customers will appreciate the product due to the fact that they will be in the advantageous position of knowing that they will get their excess back. And this is the case even if it were them that caused an accident. If a customer has procured the product then they will benefit from being compensated for any excess cost should they make a claim on their insurance subsequent to being involved in an accident or their vehicle sustaining damage in any way. The policies will provide cover for up to £300 pounds of excess. It was earlier in the month that RIAS suggested that it would be conducive to the cost of car insurance premiums if customers secured their no-claims bonus’. Ms Connor stated also that despite drivers being aware of the fact that it is important to build up no claims bonus’ there are very many out there that are unaware of how they can go about protecting them (no claims bonus’).