GAP Insurance, are you willing to take a risk without it?
posted on May 12 2008 by Jade Hensby
FACT : With more and more vehicles on our roads every day there is an increasing number of accidents and you could be the next person to suffer a vehicle write off. According to the Association of British Insurers statistics, on average 2.2 vehicle accidents are reported every single minute, of every single day.
FACT : In the UK car crime is a third of all crime, a vehicle is stolen every minute with a third never being recovered. A sad fact is that over 500,000 vehicles become a total loss each year. The Home Office Vehicle Theft Index 2003 shows that one vehicle is stolen every 90 seconds. In the event of your lease car being written off by the insurance company as a total loss you could potentially be out of pocket. Insurance companies write a car off if the damage caused in an accident is beyond repair or has been stolen and not recovered. Your Insurance company will pay out the current market value of the vehicle.
Your finance company will calculate what you owe them for the remainder of your agreement along with what the car would have been worth at the time of the claim. The figure that the finance company provides and what the Insurance company are prepared to pay are often not the same and at this point you are expected to make up the difference. The last thing we think of when leasing a new car is having it written off. Insurance is something we all have and on the majority of occassions never ever use. It is only when we need it we are thankful that we have it in place.
GAP Insurance is designed to protect you from financial loss and can save you hundreds if not thousands of pounds if and when required. A Gap Insurance policy covering you for the entire length of the agreement starts from as little as 299, and can be paid over 12 monthly payments of only £24.92. That has to be great peace of mind and theres nothing else to pay in years 2 or 3. For your personalised GAP Insurance quotation please speak to us today on 01273 789 900 or log onto leaseyournextcar.com and get an online quote for yourself in under 40 seconds.