Why is choosing Gap Insurance hard?

What is depreciation clause on Gap insurance?

Why make Gap Insurance hard for yourself when you can make it easy with EasyGapInsurance. When purchasing any product, you have to consider a range of things including cost. However, with insurance products you have to weigh up the risk against the benefits to decide whether or not you do need Gap Insurance.

Once you have decided that having Gap Insurance would be a great idea, you then have to decide which form of Gap Insurance is best for you. We at EasyGapInsurance are here to make that decision easy for you.

Easy explanation of Return to Invoice Gap Insurance

This protection will pay you the difference between your motor insurance settlement on the day it was written off and the price you paid for your vehicle. That really is how easy it can be!

Easy explanation of Finance and Contract Hire Gap Insurance

This protection will simply cover the difference between your motor insurance settlement and the amount of finance you have outstanding on the vehicle. Yes, that’s it. It will clear your finance and give you the ability to walk away from the vehicle without any level of financial liability. However, this policy will not protect any deposit.

Easy explanation of Vehicle Replacement Insurance

This protection is designed to protect the same standard of vehicle, despite car price increases or a lack of discount. Vehicle Replacement Insurance will pay you the difference between your motor insurance settlement and the cost to replace the vehicle. Obviously, the replacement cost is based on the original model you are protecting, I.e the make, model, mileage, specification and condition etc.

What claim limit is best for you?

Well if you have purchased a brand new Mercedes for £30,000, recent estimations suggest that your vehicle will be amongst the group of average vehicles of which lose approximately 50% of the original value in the first three years. This should help you decide on your claim limit.

Another decision you have to make is, who do you purchase your Gap Insurance from?

Again, price is important when it comes to any purchase but you have to find the right balance of protection and cost. There are a number of independent suppliers online who claim to have the best policies at the best prices etc, but make sure you read a copy of the terms and conditions as well as receiving a quote to decide which Gap Insurance provider is best for you.

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