Summary of Benefits

This summary does not contain the full Terms and Conditions of the Insurance – these will be supplied to you immediately after you purchase cover, together with your Certificate of Cover. If you wish to read a full Summary of Cover and inspect a specimen policy before you purchase cover, please ask your Toyota Centre to arrange this.

Your Insurer

Aioi Nissay Dowa Insurance UK Limited (abbreviated to AND-UK), 7th Floor, The Hallmark Building, 52- 56 Leadenhall Street, London, EC3A 2BJ. Registered in England and Wales No. 5046406. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority No. 401084.


This Policy is administered by Abraxas Insurance Administration Services Ltd, Abraxas Insurance Administration Services Ltd, PO Box 520, Bristol BS34 9BW.

Type of Insurance, Cover and Significant Features and Benefits

Definition of Market Value, means the greater of: (a) The value of the Insured Vehicle (excluding contents) at the Date of Loss as assessed by the insurers of the Motor Insurance; or (b) The Market Value of the Insured Vehicle (excluding contents) as at the date of Loss by reference to Glass’s Guide Retail Value.

Definition of Net Invoice Price means the price paid by the Insured for the Insured Vehicle including all factory - or dealer-fitted options specified in the Insured Vehicle’s manufacturer’s price list, and any discount given but excluding the price paid for accessories and extras, road fund licence, new vehicle registration fee, fuel, paintwork and upholstery protection kits, insurance or warranty premiums (including the premium for this policy) and any Negative Equity.

If the vehicle you are buying is later the subject of accidental damage, fire or theft and ‘written off’ by your Motor Insurer, you could be faced with a financial ‘gap’ between the Market Value of your written off vehicle and the Net Invoice Price. If the settlement figure on the finance agreement is greater than the Net Invoice Price the benefit will be calculated using the finance settlement figures and this will be paid direct to your finance company on your behalf (Purchase Protection), or Purchase Protection offers cover for this risk.

It covers the ‘gap’ between the Net Invoice Price or finance settlement (whichever is greater) and the Market Value. Cover lasts for up to 36 months. The Net Invoice Price will be shown on the Certificate of Cover. It may not be the same figure as the total amount that you have paid as it relates to the vehicle itself, it does not include non-dealer fitted options and extras such as the Road Fund Licence.

In addition, if your vehicle is subject to a finance agreement in month 37 to 48, Purchase Protection could cover any shortfall between the finance settlement figure and the Market Value if your vehicle is written off.

If you wish to understand more about the way in which the ‘gap’ is calculated, you should read the definitions section of the Terms and Conditions.

Transferring your policy

If the insured vehicle is written off within 12 months of the start date of your Purchase Protection policy, and your motor insurer provides you with a replacement vehicle, you may transfer your policy to the replacement vehicle, subject to conditions and an administration fee (Please see the Terms and Conditions).

Payment of Premium
You can choose how you pay your Purchase Protection premium:

  • either one single payment for the total amount, 
  • or 12 monthly payments, at no extra charge.
Significant and Unusual Exclusions
The cover under the Insurance cannot be transferred by you to any subsequent owner of your vehicle.

Your claim will not be covered if: 

  • the driver does not have fully comprehensive insurance
  • the vehicle does not become the property of your Motor Insurer following a ‘write-off’
  • your vehicle is stolen by a person who has access to its keys.
The Policy does not cover:

  • any amount carried over from your previous agreement (negative equity)
  • any excess deducted under your motor insurance..

The Policy is not renewable.

Certain vehicles cannot be covered by this Insurance (see Terms and Conditions for a definition of ‘Eligible Vehicle’).

If the risk covered by the Insurance is also covered by any other insurance the Insurer will pay only its fair proportion of any claim.

If the Insured declines the offer of a replacement vehicle under the terms of the Motor Insurance then the Insurer reserves the right to settle the claim based on the cost of a brand new replacement vehicle as at the date of loss by reference to Glass’s Guide Retail value.

For the full list of exclusions and limitations to the Insurance cover you should read the Terms and Conditions, particularly the sections headed ‘CONDITIONS’ and ‘EXCLUSIONS’.
Early Termination and Right to Cancel

Upon purchase you have 30 days to cancel this policy and receive a full refund of premium provided no claim has been incurred. If you cancel later than 30 days after receipt of your policy, you will receive a partial refund of premium on a pro rata basis. To administer the refund, an administration fee will be deducted from the premium refund.

Claims Notification

If you need to make a claim under this Insurance, ask for a claim form from the GAP Claims Department, Abraxas Insurance Administration Services Ltd, PO Box 520, Bristol BS34 9BW Tel: 01454 616000


If you wish to make a complaint you should in the first instance contact the Administrator, Abraxas Insurance Administration Services Ltd., PO Box 520, Bristol BS34 9BW

Or write to: Head of Compliance, Aioi Nissay Dowa Insurance UK Limited, 7th Floor, The Hallmark Building, 52-56 Leadenhall Street, London, EC3A 2BJ

If you remain dissatisfied, you may refer the matter to the Financial Ombudsman Service, Exchange Tower, London, E14 9SR. Tel: 0300 123 9123


AND-UK is covered by the Financial Services Compensation Scheme. This provides compensation in case AND-UK is unable, in specified circumstances, to meet any valid claims under its policies. Further information can be obtained from the insurer or the Financial Services Compensation Scheme.

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