So your local Toyota dealership has spoken to you about gap insurance.
Chances are that they will have spoken to you about form of return to invoice gap insurance and quoted approximately £395.
The Internet can be good place for finding out information however information overload can happen so If like a growing number of people today you liked the idea of protecting your Toyota with gap insurance and just wanted more information or even just a better price you have search on Google.
Wow how many websites and forums each saying that theirs is the best or that you don’t need it unless you are taking finance. ( sorry this is my own personal favourite miss quote) everyone has an opinion on gap insurance and sorry to say some of it can be described at best as miss-leading.
Toyota Gap Insurance is really a very easy thing to understand but the amount of information out and about can mean that finding real factual , honest views can be difficult.
All we would ask is to remember that it is your choice and that gap insurance is currently not a legal requirement and that no finance company can ever make it a condition of acceptance.
So what is Toyota gap Insurance?
There are lots of official insurance terms but in brief gap insurance is a insurance policy that runs along side your own fully comprehensive motor insurance and protects you if your vehicle is written off.
So if the idea of writing a big cheque to clear off finance or even to replace your Toyota on a like for like basis ( almost new for old) does not worry you hey gap insurance is not for you.
If however like most people today you want to protect and make your money work hard and last longer then you need to at least consider gap insurance for your Toyota.
So before you jump up and start shopping around forget everything you know about gap insurance and what you have already been offered instead think about what you would want your policy to do. After all it makes sense to have different levels of cover. We are all different and buy Toyota’s different things for different reasons, we even pay for them in different ways. So just for a moment think about what you want after all that is all that really matters isn’t it.
Do you want your gap insurance policy to simply clear any outstanding Toyota finance or bank loan? ok well you need to consider finance gap insurance
Did you buy your Toyota on contract hire? OK you need to consider contract hire gap insurance
Do you want to protect the invoice price you paid for your Toyota ? OK you need to consider return to invoice gap insurance
Do you want you your policy to replace your Toyota on a like for like basis even if the price has gone up? OK you need to consider vehicle replacement insurance
Once you know which one you want you are ready to shop around and pick a supplier.
So in brief get a Toyota gap insurance quotation, read the policy and make your own decision.