Salary sacrafice and early termination protection

[TeaVR]

Thinking of taking an electric car from the work scheme (Octopus EV).

However, there are early termination charges to be paid if I'm made redundant etc.

Has anyone ever looked into taking out individual insurance to cover against this?

Many thanks in advance.

[Chucky-egg]

Does the scheme definitely not include ‘lifestyle protection’ as part of the package? Mine does and I thought it would be a standard thing with these schemes. Maybe not!

[TeaVR]

Chucky-egg said:

Does the scheme definitely not include lifestyle protection as part of the package? Mine does and I thought it would be a standard thing with these schemes. Maybe not!

Morning.

There is cover, however it doesn’t kick in for six months (I guess to deter people from taking a car then leaving six weeks later).

I dig the fact that you get stung if you quit your job, but getting stung for circumstances outside of your control e.g. redundancy, loss of licence etc - that’s seems really mean!

[alscar]

There is presumably straight redundancy Insurance available with no restrictions on what the money should be used for but afaik all of them have excess periods of at least 3 months with a more general 6 months, for pretty obvious reasons plus a load of exclusion's for when the policy is first taken out.