KGM responds to credit crunch with enhanced third party fire and theft policy
KGM Motor Insurance, a specialist provider of motor insurance products to niche markets announces today the launch of TPF&T Plus, a new enhanced third party fire and theft policy. TPF&T Plus adds windscreen, personal effects and lock and key cover to standard third party fire and theft protection to create a viable alternative to comprehensive cover for lower value vehicles.
The policy has been developed in line with feedback from brokers and is aimed at drivers of lower value cars who have previously been given little option by the market other than to take comprehensive cover.
KGM's Group Development Manager, Doug Phelan was involved with developing the new product. "This launch might come as a surprise for some people, given that the general trend amongst our competitors is to move away from non comprehensive cover". He said. "But KGM is different. We have a good track record in writing 'non-comp' business and this new product is a logical step on from that, particularly in the current economic climate. We are all taking a closer look at our expenditure and cutting back where we can. For drivers with a low value cars, (and there are more and more of them out there as the car salesmen will testify!) comprehensive cover doesn't always offer the best value. We have developed this product to give brokers another option when it comes to finding the most appropriate product for their customers' needs".
TPF&T Plus will be available from January 2009. Initially, distribution will be through SSP exclusively.
Published: 08/12/2008 12:00:00
