Lexus Total Loss Asset Protection

Protecting Your Lexus When It Matters Most.

When you buy a Lexus, you’re making a commitment to quality. We understand the value of that commitment and the importance of protecting you and your vehicle against the unexpected.Contents

Frequently Asked Questions

Check if you are eligible for our Free Excess Protection Policy

Insurance Products are arranged by Lexus Insurance Services. Lexus Insurance Services is a trading style of Toyota Insurance Management UK Limited. Registered in England, Company No. 14297877. Registered Office: 7th Floor, 52-56 Leadenhall Street, London, EC3A 2BJ. Toyota Insurance Management UK Limited is authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 983839.

Lexus Total Loss Asset Protection is underwritten by Novus Underwriting Limited on behalf of Helvetia Global Solutions Ltd, UK Branch. Helvetia Global Solutions Ltd is authorised and regulated by the Liechtenstein Financial Market Authority. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Registerer Number: 454140. Helvetia Global Solutions Ltd is incorporated in Liechtenstein, registration number 0002191766. Helvetia Global Solutions Ltd’s UK branch is registered in England & Wales under UK Establishment number: BR024650. UK Establishment address: 6 Bevis Marks, London, EC3A 7BA.

Novus Underwriting is a trading name of Novus Underwriting Limited, which is an Appointed Representative of Consilium Insurance Brokers Limited, authorised and regulated by the FCA (Ref: 306080). Novus Underwriting Limited is registered in England (No. 10844265). Registered address 4th Floor, 34 Lime Street, London, EC3M 7AT, United Kingdom.

When you buy a Lexus, you’re making a commitment to quality. We understand the value of that commitment and the importance of protecting you and your vehicle against the unexpected.

That’s why we offer Total Loss Asset Protection – it’s extra protection for your Lexus and peace of mind for you.

WHAT IS TOTAL LOSS ASSET PROTECTION?

Total Loss Asset Protection is additional cover designed to protect you financially when you buy a vehicle. The value of any vehicle changes over time, meaning it's market value will be different to the original price you paid.

If your Lexus is written off as a result of an accident, fire or theft, your motor insurance may only cover the current market value. This could leave you with less money than you need to pay off a remaining finance agreement or buy a vehicle of similar original value.

Total Loss Asset Protection is designed to cover the shortfall between the sum offered by your insurance provider and the price you paid for your Lexus. This can help you settle any outstanding finance on your vehicle or buy a replacement. It means you can get back in the driving seat instead of being left out of pocket. Also, we will give you £300 to help with any out of pocket expenses you may experience.

Please read page 7 for more details on the exclusions of this policy.

HOW DOES IT WORK?

If your car is declared a total loss within the first 36 months, Lexus Total Loss Asset Protection can cover the difference between the motor insurance pay-out and either your car’s original purchase price or the remaining balance on your finance, whichever is greater.

To simplify how this works, let’s use this calculation:

We also provide an additional £1,000 vehicle replacement contribution, as long as you purchase your vehicle from the same franchised retailer or retailer group.

If your finance agreement lasts beyond 36 months, we’ll cover any finance shortfall for an additional 24 months.

Please see the example on the following page of how Total Loss Asset Protection could help.

PRODUCT OVERVIEW

01. MOTOR INSURANCE SETTLEMENT

This is the figure paid to you by your motor insurance company, following a total loss.

Your motor insurer will likely calculate this as the market value of the insured vehicle (excluding contents) at the date of loss, based on specialist valuation guides.

02. TOTAL LOSS ASSET PROTECTION

This is the amount that the Total Loss Asset Protection policy could pay to help cover the cost of your Lexus.

Note: For months 1-36, if the finance settlement amount is higher than the net invoice price, this coverage will cover the difference between the finance settlement amount and the vehicle's market value.

03. ORIGINAL VEHICLE COST

This is the price you paid for the vehicle itself, excluding any non-dealer-installed options or extras like the road fund licence or negative equity.

VEHICLE REPLACEMENT CONTRIBUTION: £1,000

With this Lexus policy, you’ll receive an additional £1,000 toward a replacement vehicle if you buy your vehicle from the same supplying dealer group that you originally bought your vehicle from.

This is in addition to the standard settlement figure.

Do you understand how this product works from this example?

Yes, this is clear.
No, this doesn't make sense.

AN EXAMPLE OF HOW THIS PRODUCT COULD WORK

Imagine you bought your Lexus for £20,000, and when it was written off or stolen, it’s valued at £16,500. With Lexus Total Loss Asset Protection, the policy would cover the £3,500 difference, helping you avoid a financial loss.

If your vehicle was financed, the policy can also help pay off any remaining finance balance, so you’re not left paying for a vehicle you no longer own.

Remember, on top of this you could also benefit from:

Motor Insurance Excess Contribution
Total Loss Assistance Payment
Loan Car Reimbursement
£1,000 Vehicle Replacement Contribution

Does the example provided make this product easier to understand?

Yes, this is clear.
No, could be clearer.

BENEFITS

36 Months Combined Cover

This policy gives you 36 months of protection to cover the gap between your insurance provider’s total loss settlement and the price you paid for your Lexus, or the remaining amount on your finance agreement - whichever is greater.

Additional 24 Months of Finance Cover Only

Following this initial 36-month period, we offer a further 24 months of protection free of charge. This covers you solely for the shortfall between the settlement amount from your insurance provider and the outstanding balance on your car finance agreement.

High Vehicle Value Coverage

Vehicles with a net invoice price* of up to £150,000 are covered.

Up to £250 Towards Your Motor Insurance Excess

Receive up to £250 as a contribution toward your motor insurance excess** should it be applicable.

£300 Total Loss Assistance Payment

We can provide up to £300 to help you with expenses associated with the loss of your Lexus***.

*The amount that you have paid for the vehicle itself, excluding non-dealer fitted options and extras such as the road fund licence, or negative equity.
**Motor Insurance Excess is the excess amount stated on your certificate of motor insurance, this is paid as part of your claim and is only paid once during the term of the Lexus Total Loss Asset Protection policy.
***Paid as part of your claim and only paid once during the term of the Lexus Total Loss Asset Protection policy.

£1,000 Vehicle Replacement Contribution

Benefit from an additional £1,000 Vehicle Replacement Contribution when you purchase your replacement vehicle from the same dealer group that you originally bought your vehicle from.

Up to £30/Day Loan Car Reimbursement

If your car insurance doesn't include a courtesy car, we'll reimburse you up to £30 per day to cover the cost of a loan car. Terms and conditions apply.

Accessory Coverage

Factory and dealer-fitted accessories included in the Net Invoice Price* at the point of purchase are covered.

Vehicle Finance Deposit Contribution

Vehicle Finance Deposit Contributions (a contribution made by Lexus Financial Services on select models) are included in your coverage.

BENEFITS CONTINUED…

The minimum pay-out from this policy is guaranteed to be at least 3x the purchase price of the policy following a successful claim.

Please read your Policy Document for full terms and conditions.

*The amount that you have paid for the vehicle itself, excluding non-dealer fitted options and extras such as the road fund licence, or negative equity.

WHAT IS NOT COVERED BY THIS POLICY?

Here are some of the policy's key exclusions. For a complete list, please refer to your Policy Wording.

You won't be eligible to make a claim if your car isn't covered by a UK-approved comprehensive motor insurance policy.
Items like paint or upholstery protection and dealership discounts (e.g., grants, scrappage schemes) are excluded.
Unpaid balances, late fees, extra interest, and overdue premiums aren’t covered.
Claims are excluded if your car can be repaired but you accept a cash settlement instead.
Personal items in the car at the time of the incident, and VAT (if your car is VAT-registered for business use) aren't covered by this policy.

Some policy features may also be included in cover you have elsewhere. If this is the case, you'll only be able to claim for these elements once, from one provider.

ELIGIBILITY

The purchase price of your Lexus is between £5,000 and £150,000.
Your Lexus is no more than 10 years old at policy inception.
You purchased your Lexus within the last 180 days.
Your Lexus is insured by a UK motor insurance provider with fully comprehensive cover.
Your Lexus isn't covered by a motor trade or fleet insurance policy.
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