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Gap Insurance

HOW TO AVOID DEPRECIATION...

We all know some one who has lost big money on a car. All cars lose value as they get older. Depreciation is a fact of life… or is it?
Depreciation is exactly what Return to Invoice Gap Insurance protects you from.

Gives you added protection if your car is written off.
Pays the difference between purchase price and your motor insurers payout.

HOW GAP INSURANCE WORKS

Vehicle Cost	£18,000
Motor Insurance Settlement	£11,000
GAP INSURANCE pay-out	£7,000

INCREASED COVER IF YOUR CAR IS WRITTEN OFF

Guaranteed Asset Protection (GAP) insurance - gives you added protection if your car is written off.

Return to Invoice Gap Insurance is great cover for new and used cars and whether you paid cash or borrowed the money from a Bank or Motor Loan or even have chosen a Contract Hire or Lease Agreement.

This Gap Insurance pays the difference between the pre-accident, or theft, depreciated value offered by your Motor Insurance and the original amount you paid for your car - which means you are guaranteed to get back the original purchase price in full.

YOUR CAR IS DEPRECIATING - DON'T BE OUT OF POCKET

Your motor insurance usually only covers your car's pre-accident, or theft, depreciated value. This can be a whole lot less than its actual retail value.

Take a moment to think about this. From the second you start driving your car its value is depreciating.

So whether you paid cash, borrowed the money for your new car or took out a lease or contract hire you could be seriously out of pocket if your car is a "Total Loss"

Unless of course you have the benefit of Return to Invoice Gap Insurance!

WHAT IS A VEHICLE TOTAL LOSS?

When an insured person has claimed under their comprehensive motor insurance policy and the claim has been settled, with the vehicle forfeited and a total loss payment made.

RETURN TO INVOICE GAP INSURANCE (RTI) ADVANTAGES

Refunds depreciation
Get back what you paid for the car
Available to cash, personal loan, finance, lease and contract hire customers
Benefit not affected by the size of your loan deposit
Available on new and used cars
Pre-registered and ex-demonstrator cars are covered

THE FACTS

A car is stolen every minute of the day in the UK*****
There are more than two million vehicle related thefts each year**
Vehicle crime accounts for nearly 20% of all crimes recorded****
Over 500,000 vehicles become a total loss each year
Every day in the UK more than 200 vehicles are involved in serious car accidents*****
Cars seem to be depreciating at a far greater rate than ever before
Motor Insurance valuations are less than the amount you paid for the car
You pay the deprecation, not your motor insurer
In 2003/04 around 10% of vehicle-owning households experienced some type of vehicle related-theft*
One third of stolen cars are never recovered*****
For cars aged between 1-5 years old - 5 were stolen per 1000 registered**
INFORMATION SOURCED FROM:
crimestatistics.org.uk *
secureyourmotor.gov.uk **
crimereduction.gov.uk ****
carcareplan.co.uk*****