So your Fiat dealership has just introduced you to the world of gap insurance.
Like most people you can see the reason why it could help you protect your finances but just just wanted more information. If you have never heard of gap insurance it can seem like a minefield. Type gap insurance into google and you are bombarded with a million different websites and forums all giving conflicted information.
Prices for gap insurance to cover your fiat can vary also depending where you buy it from anything up to 85%.
So lets set the record straight.
Gap Insurance can be a fantastic way to protect your Fiat.
Gap insurance is designed to cover the gap from your own motor insurance companies payout. OK so what do i mean. Well we are all different and we all by different things for difference reason and pay for them in different ways. So we think it makes sense that you can protect yourself in different ways.
So before you start shopping for gap insurance for your fiat or buy any policy form anywhere you need to decide how you want your policy to protect you. Forget prices for now you can do that when you start comparing quotations.
Do you want your gap insurance to pay the difference between your Fiats valuation and simply clear any out standing finance? OK well you need to consider finance gap insurance
Did you buy your Fiat on Contract Hire? OK well you need to consider contract hire gap insurance
Do you want you policy to cover the difference between your Fiats valuation and the invoice price you paid? OK you need to consider a form of return to invoice gap insurance
Do you want you policy to replace your Fiat on a like for like basis? Almost like new for old home contents insurance? OK well you need to consider vehicle replacement gap insurance.
Once you have decided which is best for you, you are ready to pick a supplier.
So get a quotation for your Fiat Gap insurance read the policy and then decide.