A new end of lease insurance product has been
developed by Axa Assistance, in collaboration with Complectus, a
claims management solutions business. The range of products, called
Lease Guard, will cover the risk of recharges for refurbishment
costs.
Leasing companies that have an end of term
obligation to return vehicles in a certain condition will be
covered for damages such as scuffs, chips and small dents.
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Axa Assistance UK managing director, Peter
Powell, said “The policy is an effective way of smoothing out the
end of lease return process, by removing the inevitable conflict
over recharging for the refurbishment work required to meet the
return standard.”
Sophie Helyer
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