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Innovative ‘MOT Protection’ product launched by RIAS
MOT cover available for first time in over 50s insurance market - market-leading combination of cover and price
RIAS has today launched its innovative MOT Protection product, the first of its kind to be offered by an insurance provider to the over 50s motor insurance market, giving cover for repair or replacement costs following a MOT failure.
Available as an additional cover option for current and new RIAS motor insurance customers, MOT Protection insures motorists for up to £650 if their car fails its MOT and requires additional work or a new part in order to pass.
With the annual cost at just £39.96, or just £3.33 each month, MOT Protection provides great value against the average £260 claim cost. The RIAS MOT Protection product offers a market-leading combination of cover and price.
Janet Connor, Managing Director at RIAS, comments: “We are always striving to develop our products and services in line with what is important to our customers. We know that the cost of motoring is an important issue for today’s savvy over 50s, and our new MOT Protection offers not only peace of mind, but real value for money too.
“Many people fear the date of their next MOT from a financial perspective, but it doesn’t have to be that way. Our new cover means that our motor insurance customers shouldn’t have to worry about the financial burden of making their car safe and roadworthy. They can now simply add this additional cover option to their motor insurance policy in one easy step.”
The RIAS MOT Protection product offers the following features and benefits:
- Cover for cars up to and including 10 years old, with less than 100,000 miles;
- Once a customer’s car is covered, continuous cover is maintained for as long as required;
- Reimbursement, up to a maximum limit of £650, of the cost for the repair or replacement of insured components when they are shown as failing to meet current MOT standards;
- A wide range of insured components covered, including lights, brakes, steering and suspension, and seats and seatbelts.
Janet Connor continues: “Our new MOT Protection offers our customers a unique
benefit – once customers take out the cover, they remain continuously protected against any financial surprises when it comes to their annual MOT for as long as they need, regardless of their car’s age or mileage.”
MOT Protection is just the latest additional cover option in the successful ‘Add-on’ range provided by RIAS. Customers can tailor their motor insurance policies to their exact needs and requirements, and give themselves complete comprehensive cover and reassurance by choosing to add Legal Protection (£24), Excess Protection (£27) or MOT Protection (£39.96) to their policy. For less than £100 consumers will benefit from absolute peace of mind.
RIAS motor insurance customers can also enjoy the following:
- A protected no-claims discount;
- A 24-hour claims service;
- A free courtesy car during repair;
- Extra discounts for low annual mileage, overnight garaging and cars over four years old;
- Up to £500 cover for lost or stolen keys; and
- Cover to drive in Europe for up to 91 days.
For more information about MOT Protection, motor insurance or the range of products RIAS offers, customers can contact RIAS on 0800 561 0712, or online at www.rias.co.uk
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For further information, please contact:
Lucy Pope, Consumer Communications Manager at RIAS on 01202 254445 or email lpope@rias.co.uk
Alternatively, contact Blair Catchpole, Consumer Communications Executive on 01202 254489 or email blair.catchpole@fortis-uk.com
Notes to Editors
Provided by Direct Group Ltd, who will administer the product, MOT Protection is underwritten by UKU Underwriting, on behalf of Fortis Insurance Limited.
About RIAS
RIAS was established in 1992 and is a specialist provider of insurance products for the over 50s age group.
Part of Fortis (Insurance UK), RIAS has nearly a million motor, home and travel insurance customers, employs over 1,100 people across two UK sites, and is one of the UK’s fastest organically growing insurance intermediaries. RIAS negotiates with a panel of insurers to secure competitive, value for money products.
As a leading provider of award-winning personal and commercial lines insurance solutions in the UK, Fortis has a successful customer-centric strategy, founded on aligning its activities to how customers want to buy insurance, combined with delivering high quality products, manufactured at costs better than market norms.
Insuring in excess of 7 million customers and working with a range of partners, Fortis is recognised for delivering consistent and high-quality customer experiences. In 2008, its non-life profit before tax and interest was £76 million and its non-life GWP was £760 million.