Shortfall Insurance for Kia

Shortfall Gap Insurance for your Kia

What is Gap Insurance and why should you consider protecting your finances and buying Gap insurance for your Kia?

Gap Insurance is a very simple form of protection. In layman's terms, if your Kia is written off, your policy pays the difference between your motor insurance company's settlement figure and depending upon the level of cover you choose, either;

1. simply clears any finance outstanding on your lease or contract hire agreement,

2. tops your insurance companies settlement back up to the higher of either the invoice price you paid or the amount outstanding on a finance agreement tied to your Kia,

3. takes you back to the higher of the financial settlement, the invoice price you paid or the replacement cost of another Kia the same as yours was on the 1st day you collected it. If that model is no longer available then settlement is based on the superseding model.

We at Shortfall.co.uk strongly believe in assisting customers with their understanding of Gap Insurance. We use where ever possible simple, easy-to-read explanatory information and examples about how it works and how the various levels of protection perform.

We know that most of our customers first hear about Gap Insurance while at the Kia dealership. Our customers inform us that they were quoted anything in between £399 to as much as £1000. However, at Shortfall.co.uk, we give customers access to a range of policies for a fraction of the cost. All our policies are genuine, tried and tested, and backed by the financial compensation scheme.

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An Introduction to Kia with Shortfall Insurance

Kia Motors is a South Korean automobile manufacturer founded in 1944. The company is currently South Korea’s second-largest manufacturer after Hyundai Motor Company.

The name Kia derives from the Korean proverb ‘to arise to the world from Asia’.

Kia is South Korea’s oldest car company based on the capital's outskirts, Seoul. Originally known as Kyungsung Precision Industry, it began manufacturing steel tubing and bicycle parts and then diversified into the following sectors:

The company introduced Korea’s first bicycle in 1952, motorcycle and 3-wheel truck in 1962 and its first passenger car in 1974.

In 1981, the company was forced to halt production by the then-dictator Chun Doo-hwan. However, as a result of a partnership with American giant Ford, the company resumed production in 1986. By 1992, the company had expanded into North America with successful models such as the Pride, 121 and the Avella.

However, it was not until the end of the 1990s that Kia began experiencing severe financial difficulties and would be saved. To the surprise of many, its main competitor Hyundai would, acquire a 50% stake in the struggling company. This stake has, however, now been reduced, although the two companies remain heavily active with one another.

The company introduced its ten millionth car in 2002.

The company has three large subsidies, including Kia America, Europe and Kia Defense, in which it manufacturers vehicles for both the South Korean and American militaries.

The company exports on average 1.5 million cars yearly and is active in 170 countries with a total workforce of 44,000. A large majority of European police authorities use Kia as its main source of transport.