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.
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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