Protect your investment
Buying a car is a big outlay, even more so when you make a long-term financial commitment with a car loan or repayment arrangement over several years.
But if your car is stolen or written off within a few years you could suddenly lose a lot of your investment. That’s because motor insurers normally only agree to pay out the value of your car at the time of the theft or accident – not the value of your car when you purchased it. And since car values can depreciate rapidly, the amount of your payout could be shockingly small.
Gap Insurance covers the difference between what you originally paid for your car and the insurance pay out you will get if your car is stolen or written off. So doesn’t it make sense to spend a little to protect your big investment? Get a Gap Insurance quote now
Look at how cars lose their value.
Here’s how they can depreciate over a 3-year period:
• BMW 1 Series 1.8D – value loss of 42%
• Volkswagen Golf TDi – value loss of 29%
• Ford Fiesta 1.4 Zetek – value loss of 38.7%
(Source: Wisebuyers June 2010. Cars under £20,000 purchased in 2008)
It’s easy to see that without Gap Insurance, you could end up with a big hole in your investment.
Why risk it?
• Over 200,000 vehicles were stolen between 2008 and 2009
(Source Home Office Statistical Bulletin Crime in England in Wales 2008/2009)
• Over 500,000 vehicles are written off each year
(Source: RAC.co.uk 2009)
• Over half of Vehicles taken without their owners consent are never restored to their owner
(Source: Car Crime UK)
Combine the facts above and you can see – it makes sense to take out Gap insurance.
So why wait? Get a quote now – feel good knowing that your investment is protected.>>