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Volvo Shortfall InsuranceShortfall Gap Insurance for your Volvo

 

How can a Shortfall Gap Insurance policy help you and your Volvo?

 

Gap Insurance is a form of financial protection that looks to protect you from the effects of market value depreciation. Market value depreciation is the level at which your Volvo model will decrease in value over the course of ownership.

 

Following the results of a recent analysis on both current and past depreciation rates, it was announced that the average every day vehicle will lose up to 50% of its original value within the first three years. This means that if you were to write your Volvo model off three years after purchase, you would only ever receive the market value of your vehicle, which is likely to be half of what you paid for the vehicle just three years earlier.

 

There are three forms of Gap Insurance that can protect you from the effects of market value depreciation, all of which do so in different ways. The first form of Gap Insurance is Finance and Contract Hire Gap Insurance which put simply, is the protection of the difference between the market value of your Volvo model on the day it was written off or stolen and the outstanding finance remaining on the vehicle.

 

The second form of Gap Insurance may seem familiar, as it is more than likely that when you first purchased your Volvo, you will have been offered this form of Gap Insurance. Return to Invoice Gap Insurance will cover the financial shortfall between the market value of your vehicle on the day it was written off or stolen and the original invoice price you paid for the vehicle, meaning that between both your comprehensive insurer and your Shortfall Return to Invoice policy, you will be returned to the full invoice price you paid for the vehicle.

 

The last form of Gap Insurance for you to choose from is, Vehicle Replacement Gap Insurance. Vehicle Replacement Gap Insurance will cover the financial shortfall between the market value of your vehicle on the day it was written off and the average cost to replace the vehicle with the same make, model and specification as yours was on the day of purchase.

 

 

Shortfall Vehicle Replacement Gap Insurance for your VolvoVolvo Vehicle Replacement Insurance at Shortfall

 

What is Vehicle Replacement Gap Insurance and how can a Shortfall policy help you and your Volvo?

 

Vehicle Replacement Gap Insurance is said by many in the Gap Insurance industry to be the highest and most universal level of cover. This is because it not only has the ability to protect you and your Volvo model from the effects of market value depreciation but it also has the ability to protect you from any increase in the invoice price of a new model.

 

Vehicle Replacement Gap Insurance will cover the difference between the market value of your vehicle on the day it was written off or stolen and the average cost to replace the vehicle, with the same make, model, mileage, specification and condition your model was in on the day of purchase.

 

Why choose a Shortfall Vehicle Replacement Gap Insurance policy for you and your Volvo?

 

If you have purchased your Volvo model at a discounted price then a Vehicle Replacement policy may be ideal for you. This is because you will be returned to the average cost of a new Volvo model even if the price is more than you paid.

 

Even if you didn't receive any level of discount on your Volvo, the chances are that the price of a new model will go up over the years and a Vehicle Replacement Insurance policy will give you the ability to purchase a new model.

 

Below is a step by step example of how Vehicle Replacement Gap Insurance can work for you and your Volvo ...

 

 For Example, you have purchased a brand new Volvo S60 at a discounted price of £20,000 rather than £22,000. Three years later, the S60 is stolen and less than 10 days later you receive a settlement of £11,000. As well as losing the discount you had on the last model, the cost has risen to £25,000 for a new Volvo S60 with the same specification, mileage and condition as yours was on the day of purchase. You are therefore left with a financial shortfall of £14,000.

 

This is where your Shortfall Vehicle Replacement Insurance policy can help you. Your Vehicle Replacement Gap Insurance policy will cover the difference between the market value of your Volvo on the day it was written off or stolen and the average cost to replace the vehicle with the same model, make, mileage and specification etc. In the above example your Vehicle Replacement policy with a £15,000 claim limit would cover the £14,000 shortfall.

Buy a Shortfall Vehicle Replacement Insurance Policy for Volvo

The example above has been designed to assist your understanding of both market value depreciation and the possible increase in the invoice price of your Volvo model. So, why not click or call and protect your Volvo with a Shortfall Vehicle Replacement Insurance policy today.

Shortfall Return to Invoice Gap Insurance for your VolvoVolvo Return to Invoice Gap Insurance at Shortfall

 

Return to Invoice Gap Insurance is thought by many to be Gap Insurance itself. This is because of the level of exposure the type of cover receives within dealerships. It is more than likely that when you first purchased your Volvo model you will have been offered a form of Return to Invoice Gap Insurance policy.

 

Return to Invoice Gap Insurance will cover the difference between the market value of your vehicle on the day it was written off or stolen and the original invoice price you paid for the vehicle. This would result in, between the two insurers, you receiving the full invoice price. This will allow any outstanding finance to be cleared if any, and the full balance, deposit and equity is yours to do with what you please. 

 

Below is a step by step example of how Return to Invoice Gap Insurance can work for you and your Volvo ...

 

For Example, you have purchased a brand new Volvo S60 model for somewhere in the region of £20,000. Three years later, you write the vehicle off and receive a settlement of £10,000. This leaves you with a financial shortfall of another £10,000 to be returned to the invoice price.

 

Fortunately, you had a Shortfall Return to Invoice Gap Insurance policy, which allowed you to be returned to full invoice price as the £10,000 in question was covered by your Gap Insurance policy. Therefore, all the outstanding finance was cleared and the full balance, deposit and equity is yours to do with what you please.

Buy Shortfall Return to Invoice Gap Insurance for Volvo online

The above example has been constructed to illustrate the effects of market value depreciation and what it can do to your finances. However, why take the risk whn you can protect yourself and your Volvo model with a Shortfall Return to Invoice Gap Insurance policy today.

Shortfall Finance and Contract Hire Gap Insurance for your VolvoVolvo Finance and Contract Hire Gap Insurance at Shortfall

 

How can a Shortfall Finance and Contract Hire Gap Insurance policy help you and your Volvo?

 

Finance and Contract Hire Gap Insurance was the first form of Gap Insurance created and is specifically designed for those who have purchased their vehicle through the form of a financial agreement. If you simply want to protect the finance on the vehicle, then Finance and Contract Hire Gap Insurance is the level of cover for you.

 

Put simply, Finance and Contract Hire Gap Insurance will cover the difference between the market value of your vehicle on the day it was written off or stolen and the amount of finance outstanding on the vehicle. If you wish to protect a deposit that you have placed on your Volvo model, then a higher level of cover may be more ideal for you.

 

Below is a step by step example of how Finance and Contract Hire Gap Insurance can work for you and your Volvo ...

 

For Example, you have agreed to finance a full £20,000 over a five year period for a brand new Volvo S60 which is a monthly payment of £333. Three years into the agreement, you are involved in an unfortunate accident and the vehicle is written off. Several days later, you receive a settlement figure of £10,000 from your comprehensive motor insurer.

 

On the same day, you contact your finance company and receive a required settlement figure of £12,000 which is a £2,000 shortfall from your motor insurance settlement.

 

However, you have purchased a Shortfall Finance and Contract Hire Gap Insurance policy and that £2,000 in question is covered. It is widely known that a finance company can request the £2,000 to be paid within a 28 day period and if you did not have Gap Insurance, then you would be left paying the outstanding finance on a car you no longer have.

How much is your Volvo likely to depreciate?Shortfall Volvo Depreciation Rates

 

Every vehicle will depreciate over a matter of time and industry experts actually claim that the average vehicle will lose as much as half it's value, within the first three years of ownership. It is highly likely that your Volvo will depreciate by around 50% before it's third birthday. 

 

To help with your understanding of Volvo depreciation, we have taken recent figures from whatcar.com, on four different Volvo models, to show an example of how much your own Volvo is likely to depreciate, over one, two, three and four years.  

 

Example 1:

 

Volvo V60 Estate 1.6 D2 Business Edition S/S 5dr

 

Purchased for: £22,195

 

Year 1: £16,333

 

Year 2: £13,426

 

Year 3: £11,024

 

Year 4: £9,431

 

In this example, the Volvo has depreciated by £11,171 within the first three years and by £12,764 within the first four years. 

 

Example 2:

 

Volvo V40 Hatchback 1.6 D2 115 ES 5dr

 

Purchased for: £20,345

 

Year 1: £12,081

 

Year 2: £9,902

 

Year 3: £8,144

 

Year 4: £6,956

 

In this example the Volvo has depreciated by £12,201 within the first three years and £13,389 within the first four years. 

 

Example 3: 

 

Volvo S60 Saloon 1.6 D2 Business Edition S/S 4dr 

 

Purchased for: £20,995

 

Year 1: £15,914

 

Year 2: £13,004

 

Year 3: £10,600

 

Year 4: £8,982

 

In this example the Volvo has depreciated by £10,395 within the first three years and £12,013 within the first four years. 

 

Example 4:

 

Volvo C30 Hatchback 1.6 D2 R-Design 3dr

 

Purchased for: £21,245

 

Year 1: £11.525

 

Year 2: £9,475

 

Year 3: £7,776

 

Year 4: £6.650

 

In this example the Volvo has depreciated by £13,469 within the first three years and £14,595 within the first four years. 

 

We hope that this gives you some insight into how drastically cars can depreciate, even in their first few years, with prices as little as £39 for Shortfall Gap Insurance products, protect your Volvo today. 

Volvo is a Swedish manufacturer of trucks, buses, construction equipment and also financial services.Volvo History at Shortfall

 

The company was officially founded in 1927, however has roots which date back to 1915.

 

In 1915, the company was known as AB SKF which solely focused on the production of ball bearings.  This explains the meaning of Volvo, as the name is Latin for ‘I roll’ . In 1924, the two founders of the company began to invest in car production. Their aim was to design cars to cater for Sweden’s rough roads and cold temperatures which the American and European imports did not cater for. Its first car was known as Jakob, but more formally as Volvo OV 4 series.

 

The company also successfully entered the truck, bus and also aircraft engine markets during the 1930’s.

 

In 1993, the company unsuccessfully attempted to merge with French car maker giant Renault. In 1999, Volvo was sold to America’s auto giant Ford who then in 2010 sold the brand to Zhejiang Geely, a leading Chinese automobile manufacturer, who interestingly own the famous traditional London black cabs.

 

The company is well known throughout the industry for its safety engineering. The company was the first to introduce laminated wind shields, the 3 point seat belt and also fitted headrests.

 

The Volvo symbol originates from the ancient iron chemistry sign which demonstrates the company’s use of top quality iron.

 

In 1990, to the amusement of many, the company was involved in a lawsuit against a Hong Kong night club, called ‘Club Volvo’. The lawsuit ended with a settlement payment of $1.

 

The current Volvo portfolio consists of successful models such as: S80, S60, V70, V60, V40, V40 Cross Country, C70, C30, XC90, XC70, XC60.

Recent Volvo News at ShortfallShortfall Volvo News

 

Volvo reveal the all new estate concept at the Geneva Motor Show.

 

A brand new Volvo S90 expected to arrive on our roads from 2016. 

 

Volvo are all set to launch their brand new V60 Cross Country model onto our roads next year. 

 

New Volvo XC90 details announced ahead of the official release.

 

The new Volvo XC90 an instant sell out!