Finance Gap Insurance : Contract Hire Gap Insurance : Back To Invoice : Vehicle Replacement Insurance : Commercial Gap Insurance for Vans and Trucks :
Gap Insurance
Gap Insurance will protect you if you write off your vehicle. Your motor insurer may not pay you enough either to settle any finance outstanding on your vehicle or purchase a replacement vehicle. Gap Insurance will ensure that you are not left out of pocket if you have a total insurance loss by covering any shortfall between your insurance pay out and the amount outstanding on the finance agreement.
Over half a million cars are stolen each year, most of these are written off or vandalised. Add to that the large number of accidents each year and you could be the next person to suffer a vehicle write off. A Gap Insurance policy will cover you against financial loss should your car be stolen and/or written off.
Most of us think our Comprehensive Motor Insurance covers us if our vehicle is written off... THINK AGAIN - you do need Gap Insurance.
GAP INSURANCE PRICES FROM £79.00
» Click here for details and to buy Gap Insurance online
» Click here for a quick quote
Gap Insurance
Finance Gap Insurance : Contract Hire Gap Insurance : Back To Invoice : Vehicle Replacement Insurance
Over half a million cars are stolen each year, most are written off or vandalised. Add to that the large number of accidents each year and you could be the next person to suffer a vehicle write off!
Most of us think our Comprehensive Motor Insurance covers us if our vehicle is written off... THINK AGAIN!
If your vehicle is written off your motor insurer will only pay the current market value for your vehicle!
So what happens if the current market value is not enough to replace your vehicle or pay off your finance or contract hire agreement?
Simple, there is a financial GAP that you will have to pay out of your own pocket:
Why should I purchase GAP Insurance?
- UK Car Crime is a third of all crime
- A vehicle is stolen every minute, 33% of these are never recovered
- Cars depreciate by up to 77% over a 3 year period
- Motor insurance settlements are always less than the price you pay for your car
- When a write off occurs you lose out and have to raise the funds for any short fall
- Write off's occur all too often, protect yourself
Example:
| Original Cost of your car: | £20,000 |
|---|---|
| Deposit: | £2,000 |
| Amount of loan: | £18,000 |
One year later the car is stolen or is in an accident and declared a total loss.
| Amount still owing to your finance company: | £12,000 |
|---|---|
| The insurance company pays you only: | £7,000 |
| Amount of loan: | £18,000 |
At a minimum this leaves you with a financial GAP of £5,000!
TO PROTECT THIS FINANCIAL WORRY YOU CAN CHOOSE TO BUY ONE OF THE FOLLOWING GAP INSURANCE POLICIES:
Finance Gap Insurance
In the event of a write off this will pay the difference between your motor insurance payout and the amount outstanding on your finance/contract hire agreement. Using the example above it would pay £5,000
» Click here for details and to buy Financial Gap Insurance online
Contract Hire Gap Insurance
In the event of a write off this will pay the difference between your motor insurance payout and the amount outstanding on your finance/contract hire agreement. Using the example above it would pay £5,000
» Click here for details and to buy Contract Hire Gap Insurance online
Back To Invoice
In the event of a write off this will pay the difference between your motor insurance payout and the original price of your car. Using the example above it would pay you £13,000
» Click here for details and to buy Back To Invoice Insurance online
Vehicle Replacement Insurance
In the event of a write off this will cover the difference between your motor insurance payout and the cost of replacing your vehicle to the exact specification, even if the price of the new replacement car has increased.
» Click here for details and to buy Vehicle Replacement Insurance online
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Alexander Lauren Associates Ltd is
authorised and regulated by the Financial Services Authority. FSA Firm Reference No 310043
We are proud to be
Investors in People since 1999
If we are unable to settle your complaint with us, you may be able to refer your complaint to the Financial Ombudsman Service.
Further information is available at www.financial-ombudsman.org.uk