Taking ownership of a new car is a wonderful feeling, and perhaps that bit better still if you’ve taken the time to find out what GAP insurance is and how it can benefit you.
There really is nothing like the feeling of driving a brand new car off the forecourt – but did you know that you could be at risk from day one?
If you are unfortunate enough to write your car off, and it was bought from new or is on long-term finance, then your insurance company could leave you short.
You need GAP insurance, but what is it?
Well, GAP insurance – or Guaranteed Asset Protection insurance to give it its full name – covers you for the gap between what your car is worth, and how much it has cost you! Allow us to explain.
Let’s imagine that you have just taken delivery of a brand new Range Rover, and you paid £60,000 for it. Very nice.
But in five years’ time you are unfortunate enough to have a road accident and the car is deemed to be a write-off.
If you do not have GAP insurance, then your insurance company will offer you a pay-out at the car’s current market value. Depending on the car’s condition, how many miles you have put on the clock, the colour, extras etc, then that pay out could be as little as £15-20,000.
Does it sound as if you may be caught short? Call gapinsurance.co.uk today on 01943 850999 for more information and a free quote.
Such a situation is unfortunate, but not unusual.
Writing your car off for its current market value can leave you well out of pocket, and if you bought the car on long-term finance then you could be left seriously short-changed.
Here’s where GAP insurance steps in.
If you had taken out GAP insurance from Gapinsurance.co.uk, then after the accident you could be paid out enough to cover what you paid for the car!
Or maybe even more.
Depending on the cover you take out, if the cost of a replacement Range Rover had risen in the five years since you purchased yours – a likely scenario? - then you could also receive that increase. On top.
Put simply, GAP insurance means that you will be able to buy a brand new replacement vehicle in the event of an accident, that is what GAP insurance is for.
For more information on return to invoice – or ‘original price’ GAP insurance, click here.
For more information on vehicle replacement GAP insurance, which allows for any increase in the value of your replacement car, click here.
GAP insurance could prevent a nasty surprise, especially if you have purchased your new car on long-term finance.
You may be offered GAP insurance from your main dealer when you do. But call us first – as testimonials on our website prove, our products can be much, much cheaper.
We cover vehicles up to £150,000 in value, we cover all dealer-fitted accessories and you can carry your policy across if you change cars. Not every insurer will be so accommodating.
For a comparison of GAP insurance policies, click here.
For more information and a free quote call gapinsurance.co.uk on 01943 850999 today, or email us now using this simple form.
Are you really properly covered? Don’t be left wondering – let gapinsurance.co.uk put your mind at rest now. And if you’re still not sure what GAP Insurance is, give us a call and we’ll have another go!