In brief not a lot! The simple reason being, that Gap Insurance is not a high risk policy.
You are not guaranteed to have your vehicle declared a total loss, whether that be stolen or in an accident. It is not something that is definitely going to happen.
Yes, the statistics may sound terrible, but the chance of it happening to you are very slim.
Did you know? According to a recent publication from the Accident Exchange an estimated £2 billion pounds worth of vehicles where written off last year (2016) alone.
Taken from a recent interview with AM online and research from Mapfre Abraxas ... Nancy Rignall, head of Mapfre Abraxas confirmed that ...
Alarming statistics we think you will agree, after all, who would want to have had their vehicle written off and be left having to pay for it. If we allign these statistics with the population, it is less than 5% per year that it will be your vehicle that is declared a total loss. However, if it is your vehicle, then potentially you could be left hundreds, thousands if not tens of thousands of pounds out if pocket.
It is easy to believe that when your dealership offers you Gap Insurance for £395 that it is still genuine value for money.
However, at Shortfall.co.uk, Gap Insurance can cost as little as £51 inclusive of IPT, depsite the fact that we are protecting such a large sum of money.
Is Gap Insurance good to have? That's up to you to decide. Does Gap Insurance work? Yes, it does.
Why is there such a price difference between garages, dealerships and online providers such as ourselves?
There are three reasons, two of which will mean that buying Gap Insurance independently will always be less expensive.
Any bonus we get will remain unaffected. Therefore, if you take all of the above into consideration, this is why you shouldn't be paying a considerable amount for Gap Insurance. This is something that consumer giants Which and Martin Lewis Money Saving Expert have also highlighted in their recent reports.
How much should you be paying for your Gap Insurance? Well this will depend on the price of your vehicle, what level of cover you want and how long you want it for, but, the simple answer is, not half as much as you expect it to be.
With prices from £51.00 and our average policy cost £139.00 why not click or call 0800 195 4926 and see just how little it could cost to protect your vehicle with a Shortfall policy.