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Why should you buy Gap Insurance from Shortfall?
Why should you think about buying gap insurance? What can Gap insurance do for you? Most importantly is gap insurance worth it? You local dealership may have explained what gap insurance is and perhaps even discussed why you should consider protecting your vehicle with a level of cover but at shortfall being part of Aequitas Automotive Limited we feel that it is really important that you have all the real factual based information so that you can make real informed choices. So lets set the record straight once and for all. You do not have to buy gap insurance! There is no legal requirement for you to buy gap insurance!
An estimated 600,000 vehicles are written off in the Uk each year alone! Your own motor insurance company is only ever legally obliged to offer you the valuation of your vehicle on the day it is written off. The average vehicle can lose up to 50 5 within the first three years of your ownership and in some cases a lot more. So what do these statistics actually mean to you. This means that if your vehicle is written off the amount that your own motor insurance company offer you will be considerably less than you originally paid.
Without any form of gap insurance protection this settlement will be the only amount that you have without using your own savings to be able to replace your vehicle or clear any outstanding finance. Worse you could be left paying for a vehicle that you no longer have ! Depending upon the level of gap insurance protection you choose you can protect yourself from this financial exposure from as little as £34.00 for a one year policy. But we can not stress enough that it is your choice. We as you can imagine think that it is well worth the added pace of mind but it is your vehicle, your money and your choice. After all it is you who would have to live with any financial implications if your vehicle was written off and you had no gap insurance protection in place.