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Not all Shortfall Gap Insurance for your Mercedes is the same!

What makes Shortfall Gap Insurance different and what can it do to help protect your Mercedes?

In a nutshell, Gap Insurance can pay you, the difference between your comprehensive insurer's settlement payment, which will be the market value of your Mercedes at the time it was written off or stolen, and make sure that you do not end up having to cope with any financial implications.

Depending upon the level of cover you chose you can protect the difference between your motor insurance settlement and the amount of money you need to either:

1. Return you back to the original invoice price you paid for your Mercedes (Return to Invoice),

2. Purchase another Mercedes of the same age, mileage, and condition as your original Mercedes was at the time it was first driven out of the showroom (Vehicle Replacement),

3. Clear all outstanding balances on your finance agreement (Finance and Contract Hire).

An Introduction to the History of Mercedes with Shortfall

Mercedes-Benz is a German automobile manufacturer, which was officially founded in 1926. The company is part of the ‘Big 3 German luxury automakers’, along with Audi and BMW. The history of Mercedes-Benz dates back to two men, Karl Benz and Gottlieb Daimler, who are both responsible for laying down the foundations for the modern-day motorization of road transport.

The two men entered the industry independent from one another. Karl Benz founded the Benz & Cie Company in 1883 and Gottlieb Daimler founded the Daimler-Motoren-Gensellschaft Company (DMG) in 1890. The two companies merged in 1926 and formed Daimler-Benz AG.

The name Mercedes dates back to Emil Jellinek, who was a well-known Austrian businessman. Emil met with Gottlieb in 1897 and bought a Daimler car and they soon became good friends. This allowed Gottlieb to take advantage of Emil’s vast network of contacts of European aristocrats and entrepreneurs, which significantly increased demand for Daimler cars.

Emil began to successfully enter Daimler cars in racing car competitions. The cars would race under the name Daimler-Mercedes. Mercedes was the name of Emil’s daughter and is the Spanish word for Grace. DMG would officially register Mercedes as its brand name in 1902.

As a result of the First World War, both DMG and Benz & Cie began to experience financial difficulties. In 1926, the two companies merged and officially formed the Daimler-Benz Company, which would become known throughout the world as Mercedes-Benz.

The famous Mercedes three-pointed star logo represents the company’s ability to manufacture engines for land, sea and air use. The company has a vast network of operations throughout the world. Its best markets are in Germany, America, China and Europe.