Car insurance news
New car depreciation protection with cheap car insurance firm
American Express Insurance Services is offering its customers more than just cheap car insurance with its comprehensive motor insurance policies.
Depreciation is a serious problem for drivers of brand new cars, as the value will fall around 40% on an average family car in the first year of use. However, American Express Insurance Services says that owners of new cars will benefit through its inclusion of a depreciation protection scheme in its motor insurance.
Unlike most cheap car insurance companies, which offer claimants only the face value of the car, American Express Insurance Services will provide a replacement of the same make and model should the car be reported as a write-off within its first year.
Joanne Field, of American Express Insurance Services said, "A new car - whatever the make or model - is a significant investment for any driver. With our inclusive cover, new car owners need not worry about the ever increasing depreciation once off the forecourt that a new car creates.
"Our policy will protect them within the first twelve months should the worst happen and they need to make a significant claim for their car," she finished.