Which ever type of motor home you are buying I am sure that you more than most members of the public will understand that it takes a massive financial commitment, so what is the relevance of motor home gap insurance?
With motor homes typically costing many many thousands of pounds it is important to explore how you can protect your financial investment.
Motor homes while enjoying a much slower rate of depreciation than standard types of vehicles such as cars will still lose value over time. After all a five year old motor home will not be worth the same as a brand new model.
So what happens if your motor homes joins the estimated 600,000 other vehicles written off in the UK each year? Even if your own motor insurance company offer you a form of new for old within the first 12 months what happens to your motor home after this time frame?
Remember in most cases after this new for old period your own motor home insurance provider will only ever pay tou the market value of your motor home on the day it is written off. This valuation can be tens of thousands of pounds less than you originally paid. The situation is made even worse if like most of us today you had used a form of finance to fund your purchase.
Depending upon the level of cover that you chose you can instead choose to protect yourself against this loss and exposure.
You can choose a form of finance gap insurance which will pay the difference between your motor homes valuation and simple clear any outstanding finance. Alternatively you can choose to protect the invoice price you paid which a form of return to invoice gap insurance or even the replacement cost.
With Gap insurance 123 you can even predate the start date of your policy to coincide with the end of your new for old cover up to 12 months in advance.
Easy Gap Insurance also allows for unlimited travel in EU countries and anywhere which allows you to drive with an international green card. ( Again this is providing your own road risk insurance companies cover you fully comprehensively.)