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GAP Insurance

GAP Insurance

GAP insurance can be very beneficial in the event of a write-off, safeguarding your investment and securing a promising driving future GAP stands for Guaranteed Asset Protection, particularly popular amongst drivers looking for brand new car insurance. Making such a huge investment in your beloved vehicle you simply cannot risk losing a huge amount of money in the event of an accident or theft. It helps you get back on the road in a car that is of equivalent value to your old motor if your car is written-off or stolen, allowing your cover to support you when your driving future appears to be pretty bleak. This type of agreement covers the difference between what your insurance company pays out for your car and what you actually paid for it, seeing you comforted and supported by your coverage. With the rapid depreciation of new cars being a real sting to their owners in the case of a write-off drivers are hit event harder by this reality. Insurers tend to only pay out what the car is worth on that date, which is usually a fraction of the balance in which the car was purchased for. On average a new car loses around 6o% of its value in the first three years. GAP insurance can be extremely beneficial to those with a new car on finance, or drivers that have taken a loan out to purchase their car. If you wish to learn more about whether GAP insurance would be of use to you then get in touch today and allow us to discuss this with you in depth.

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