If you are reading this you have probably just been offered gap insurance from your dealership and have like most people gone home and googled gap insurance. You liked the idea but just wanted to see if there was a better deal or even just to get more information. Especially if this is the first time you have heard of it
When you type gap insurance into Google a whole host of information, websites, and forums appear. In most the information out here is at best misleading.
The first Myth and probbly the most congudding that the general public seem to have is that gap insurance is only worth thinking about if you have bought your vehicle on finance.
Perhaps this is because the first ever type of gap insurance was designed just for that.
But wait if you are lucky enough to have been able to pay for your vehicle in cash or another form shouldn’t you be able to protect yourself?
Well yes you can with the new style of gap insurances. Times are not easy for anyone and vehicles are expensive. But gap insurance is not for everyone. If you don’t mind the thought of writing a cheque to top up your own motor insurance payout back to the invoice price you paid or even the replacement cost, well hey gap insurance is not for you.
If like most people today you are looking for ways to make your money go further you need to consider gap insurance. You can protect the invoice price you paid or even replace the vehicle on a like for like basis. Almost like your new for old home insurance.