So you are buying a Mini.

Gap Insurance for Mini

Gap Insurance for Mini

Good choice Mini are a truly iconic car with personality and now with the countryman and Club man practicality.  Did you know that the Mini has continuously been praised for its ability for hold its re-sale value. That said even you fabulous car will lose money. Sorry it is a sad fact of life.

In fact the motoring press say that the average car can loose up to 50 % in the first three years alone. This is not unique to Mini in fact all vehicles loose money just some quicker than others.

This in mind your local Mini dealership should have spoken to you about ways to protect yourself with gap insurance. The chances are that they have offered your a style of return to invoice cover. This means that your policy would pay the difference between either your Mini’s valuation on the day it is written off and either the invoice price your paid or the amount outstanding on finance which ever is the higher.

Hope that this sounds familiar.

Our only concern is that there is a lot of information on the internet about gap insurance from the good the bad and the absolute miss informed. My own favourite quote” you only need to consider gap insurance is you have taken a form of finance?”

Wrong! If you have paid cash its’nt more important to protect yourself? After all your motor insurance is only obliged to pay you your Minis valuation on the day it is written of, not how much you paid? This difference can be thousands of pounds. Buy hey if writing a cheque for thousands is no problem for you perhaps gap cover is not for you.

But if like most of us you would find it difficult or simply want to do something better with your savings then why not consider protecting yourself?

We all buy different Mini’s for difference reasons.

We all want our Minis to do different things and hey we even pay for them in different ways. So dosen’t it stand to reason that you should be able to protect your Mini in more than one way?

So before you buy any form of gap insurance from anywhere and at any price why not take a few moments out to decide how you want your policy to protect you. You are the important one here.

After all its your Mini, your choice , your money!

For example did you buy your Mini on contract Hire? OK don’t blame you there are some really good deals on at the moment, why don’t you consider contract hire gap insurance?

Did you pay cash for your Mini? Or do you want your policy to act in the same way as the policy your dealership spoke to you about? OK well why not look at a form of return to invoice gap insurance?

Do you want your policy to replace your Mini on a like for like basis even if the cost has gone up? Almost like new for old home contents insurance? OK well why not look at vehicle replacement insurance?

The is no wrong answer if it what ever is most important to you.

So in summary get a quotation, read the policy and make your own informed choice as to which, if any type of cover is best for you and your Mini.