Autosure extends product range

Autosure says it has tapped into the views of borrowers to develop a new product, Loan Protection Insurance (LPI).

The policy is described by the company as a combination of its Payment Protection Insurance and Guaranteed Asset Protection Insurance products. 

It will cover the repayment of any loan obligations to a lender if a consumer suffers an insured event, such as temporary loss of income or their car getting written off.

Chief executive James Searle, pictured, says: “Off the back of consumer research, we've created a new added value Loan Protection Insurance product for customers. 

“It’s at a lower premium and has increased benefits – delivering better protection. 

“At Autosure we’re very excited to add this to our range of protection products, as it enables us to give even more customers confidence for the road ahead.”

Benefits of the scheme include individual and joint cover, and no need for a medical examination.

There are three cover options for consumers, severe life impact, temporary loss of income and shortfall.

Autosure says customers can choose certain cover options and any joint-insured person on a policy can opt for different covers.