Provident bolt-on product launch to supplement motor pay-outs

A new add-on motor product has been released by Provident Insurance designed to supplement insurance pay-outs on customers' standard policies.

Provident Insurance Value Protection (PVP) will pay up to 25% of another motor insurer's customer compensation - up to £10,000 - in the event that their vehicle has been irreparably damaged. The additional cover will aim to help reduce or eliminate the difference between what insurers decided the worth of the vehicle is and what it would cost the consumer