Minor Damage Insurance

No, SMART, Tyre and Alloy and SMART Plus Insurance is not a compulsory policy when leasing with Nationwide Vehicle Contracts, however, it is worth considering if you are particularly worried about end-of-contract damage charges at the end of your lease contract. Body work damage and/or damaged tyres and alloy wheels must be replaced or repaired before your lease vehicle is collected as they aren’t covered by general Fair Wear and Tear. Minor damage insurance helps to offer peace of mind for damage outside your control caused by things like pot holes, debris and high kerbs.

As long as the damage meets the criteria, cover is provided for incidents which occur within the UK, Isle of Man, Channel Islands or member countries of the EU.

Yes, as with any type of insurance policy, SMART, Tyre and Alloy and SMART Plus Insurance all come with policy restrictions and exclusions. Certain vehicles are also not eligible for cover including commercial vehicles (such as vans and pickup trucks), emergency vehicles, taxi or vehicle used for hire or reward and vehicles with wheels of chrome finish, or split rim construction. For full terms and conditions please refer to your policy document.

There are three different types of minor damage insurance policies available – SMART Insurance which is available for £299, Tyre and Alloy Wheel Insurance which is available at £299 and SMART Plus Insurance which starts from £399. You can choose to pay for the cost of the policy as a one-off payment (by credit or debit card) or spread the cost over 10 interest-free monthly direct debit payments.

No, SMART, Tyre and Alloy and SMART Plus Insurance can only be taken out within 30 days of delivery of your new lease vehicle and cannot be renewed.