Shortfall Insurance for Peugeot

Money does not grow on trees so why should you spend more on a shortfall insurance for your Peugeot?

Gap Insurance is an optional insurance cover that you can buy to help protect you against out of pocket expenses if your car is written off.

This could mean that your vehicle has been damaged beyond economic repair or stolen and not recovered. This is because if your Peugeot is written off your own motor insurance company is only ever legally obliged to offer you the value of your car on the day of loss. With some industry experts estimating that an average car with average usage can lose up to 50% of its original value in just 3 years, any settlement you are paid could be considerably less than you paid. Worse case scenario you could be left paying for a car you no longer have.

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Why should you buy Gap Insurance for Peugeot?

Depending on what level of cover you chose, gap insurance can either, return you back to the original invoice price you paid for your Peugeot (Return to Invoice), pay you the amount of money you need to purchase another Peugeot of the same, age, mileage and condition as yours original was on the day you first purchased it (Vehicle Replacement) or pay off any outstanding finance that you may have on your finance agreement (Contract Hire/Finance Gap).

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A History of Peugeot with Shortfall Insurance

Peugeot is a French automobile manufacturer and forms one half of ‘PSA Peugeot Citroen’, which is the second largest car maker in Europe. The history of the company dates back as far as the 18^th century when the Peugeot family, situated in the Eastern region of France produced coffee, pepper and salt. The company expanded into the bicycle market near to the end of the century and would become well known for its production of the ‘Le Grand Bi’ penny farthing in 1882.

Armand Peugeot would be the family member who would diversify into the automobile market. He designed the company's first car in 1889, which ran off steam. Not as successful as planned, Armand would invest in petrol based cars and would introduce its first model, known as the Type 1 in 1901, which would become the world's first car to be fitted with rubber tyres. Peugeot would go on to name its cars 'Type' with a particular number. By 1910, the company would be well established in the European auto market.

Apart from being taken over by Volkswagen during the Nazi occupation of France during the Second World War, the company unlike other manufacturers was not seriously damaged by the two wars. In 1975, the company would take over French rival Citroen and would form the joint company PSA Peugeot Citroen. Many industry experts argue that the success of its 205 model prevented the company from near bankruptcy in the latter part of the 20^th century.

The Peugeot family is well known throughout France for its ownership of Sochaux Football Club, which to no surprise, the company sponsors. Peugeot is also active in motor racing and cycling, most notably with its success in the Tour de France where it has won ten of its competitions, a record which has yet to be reached.