MB&G, an independent warranty provider, has come up with redundancy cover that protects car buyers’ finance payments for up to 12 months.
MB&G’s Vehicle Purchase Unemployment Protection Insurance (VPUPI) policy will be available on both new and used vehicles and the new product is offered to both employed and self-employed customers. Payment is based on a percentage of the retail finance monthly payment.
Kevin Pearce, Operations Director at MB&G, said: “The recent economic turmoil has led to a sharp rise in the number of job losses and unsurprisingly, this has led to anxiety among potential vehicle purchasers. Our redundancy protection policy ensures that vehicle finance payments will continue to be made by the insurer in the event of redundancy for a period of up to 12 months, adding peace of mind for cautious car buyers.”
To see the requirements to qualify for this cover and for more information, visit mbginsurance.co.uk.