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SMART Insurance Explained

What is SMART Insurance?

SMART insurance is designed to cover your lease vehicle against small scratches, scuffs and dents to the body work that can often occur from means out of your control. It is a separate insurance policy to your standard motor insurance and ensures the damage is repaired using SMART repair techniques (Small Minor Area Repair Technology).

What does SMART Insurance include?

A SMART Insurance policy covers you for sudden and unforeseen damage to the lease vehicle which can be repaired using minor damage repair techniques. Specifically, this includes:

For full terms and conditions please refer to your policy document.

What does SMART Insurance exclude?

Not all vehicle damage is covered by SMART Insurance and you must make a claim within a specified time limit. Specifically, SMART Insurance does not cover:

For full terms and conditions please refer to your policy document.

How long am I covered for?

Up to 36 months of cover is available with SMART Insurance. The cover runs from the start date, which for lease agreements is usually the date the insured vehicle is delivered. The cover end date will be the first of the following dates: 

Please note, this insurance policy cannot be renewed and can only be taken out within 30 days of delivery of your lease vehicle.

Am I covered both in the UK and Europe?

As long as the scratch, scuff or dent meets the specified criteria outlined in the policy, cover is provided for incidents which occur within the UK, Ireland, Isle of Man or Channel Islands and for a single trip that lasts no more than 60 days within the EU.

Are there any restrictions on cover? 

The following vehicles are NOT eligible for cover:

Commercial vehicles

Commercial vehicles used for business purposes are not eligible for SMART insurance cover. This includes: 

Any vehicle over 3.5 tonnes

Vehicles which weigh more than 3.5 tonnes or are capable of moving a payload of more than one tonne, are not eligible for SMART insurance cover. This includes: 

Emergency vehicles, taxi or vehicle used for hire or reward

SMART insurance is not available to businesses who wish to use the vehicle for hire and reward purposes. This includes:

Buses, vans, trucks and motorcycles

Selected vehicle classes are not eligible for SMART insurance, including:

Vehicles used for deliveries or dispatch

Vehicles which will be used for transporting goods for delivery or dispatch will not be eligible for SMART insurance as this falls under “hire and reward”. This includes private vehicles that may be used for:

Driving schools

Driving schools or private driving instructors who plan to use the vehicle for private driving lessons will not be eligible for SMART insurance as this is classed as “hire and reward”.

Road-racing, rallying, pace-making, speed testing or any other competitive event

Vehicles used for any form of motorsport that takes place on public or private roads will not be eligible for SMART insurance. This includes:

Vehicle with wheels of chrome finish, or split rim construction

Vehicles fitted with specialist wheels will not be eligible for SMART insurance. This includes vehicles with wheels of:

Left-hand drive vehicles

Vehicles which have the steering wheel on the right of the dashboard will not be eligible for SMART insurance as these vehicles are designed to be used in countries where people drive on the right-hand side of the road.

What are the benefits of SMART Insurance?

The main benefit of taking out SMART Insurance is that you can maintain the appearance of your lease car. Repairing minor damage as it happens can help avoid the cost of hefty end-of-contract fees when your vehicle is inspected at the end of your contract. SMART Insurance also means there will be no vehicle down time while the vehicle is in the body shop for minor damage, so you won’t have to arrange alternative transport.

Other benefits include:

What should I consider before taking out SMART Insurance?

As with any insurance policy, it is important that you review the policy, including any exclusions to ensure that SMART Insurance is right for you. Things to consider include:

Please note, all aftermarket repairs vary from the manufacturers factory finish which is machine sprayed to a degree beyond that achievable by human capability.

Is SMART Insurance compulsory when leasing a vehicle with Nationwide Vehicle Contracts?

Please be aware, SMART insurance is not compulsory. However, Nationwide Vehicle Contracts believes it’s a great option to protect your lease vehicle against small scratches, scuffs, and dents that occur more often than not from means out of your control, regardless of how carefully you drive.

What are my obligations?

You must provide full and accurate information to all questions asked. Your answers must be true to the best of your knowledge and belief. Your answers will form part of the statement of facts on which your policy will be based. If you become aware that information you have given us is inaccurate or has changed, you must inform us as soon as possible. Failure to do this may invalidate your policy and claims may not be paid.

You must be the UK registered keeper or hirer of the insured vehicle which was purchased within the last 30 days and is to be principally used in the UK, Ireland, Isle of Man or Channel Islands and for no more than 60 days in any one trip within the EU.

You must advise us if you sell or transfer ownership of the vehicle. If the transfer of ownership is to a family member and within 90 days of the start date it is possible to transfer the cover. You will need to contact us to arrange the transfer.

You must make us aware of any change in circumstances that effect your eligibility for this policy. In the event we cannot complete a minor damage repair and instruct you to arrange a body shop repair, you are required to submit a paid invoice to us for reimbursement of your £150.

All claims must be reported to us as soon as possible, and no later than 30 days after the damage occurred.

For all obligations please refer to your policy document.

How much does SMART Insurance cost?

SMART Insurance costs £299 for up to 36 months of cover. You can pay this as a one-off payment or spread the cost over 10 monthly instalments of £29.90. 

If you are interested in taking out SMART Insurance, please contact our Minor Damage Insurance team on 0161 300 7437 or email [email protected]

Who is the underwriter?

SMART Insurance is underwritten by Fortegra Europe Insurance Company Limited, who are authorised and regulated by the Malta Financial Services  Authority under reference no. C 84703 and subject to limited regulation by the Financial Conduct Authority under reference number 805770.

Fortegra Europe Insurance Company Limited The Reed Centre Blue Harbour Ta’ Xbiex Marina Ta’ Xbiex XBX1027 Malta.

How to make a claim through SMART Insurance? 

Claiming through SMART Insurance has never been easier thanks to Premia Solutions’ online claim portal. You can contact them by:

From there, you’ll be asked to complete a claims form and return it back along with accompanying supporting photographs.

Once your form and photographs have been assessed – checked to see if they meet the criteria – and authorised, a skilled approved repairer will conduct a repair at a time and place convenient for you.

How do I cancel the contract?

If you have not made a claim and do not intend to make a claim you may cancel your SMART Insurance within 30 days of receiving the policy documents and you’ll receive a full refund of the premium.

If you cancel after 30 days you will pay for the number of months you have had the insurance for. This figure will be rounded up to the nearest month, and the rest of the premium will be returned to you, minus an administration fee of £35.

For example:

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About the Author: Jamie Locke

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