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What is Vehicle Replacement Insurance and what can it do to help protect your Vauxhall?

Vehicle replacement gap insurance is the latest form of gap insurance to enter the markets and while being very similar to return to invoice gap insurance it has one very big and very distinctive advantage.

This is because unlike return to invoice in which you are protecting a physical amount of money ( the invoice price you paid ) you are instead protecting a standard of vehicle. 

Vehicle replacement gap insurance pays the difference between your vehicles value on the day it is written off and the amount of money that you would need to spend to buy another Vauxhall the same age, mileage and condition as yours was on the day you drove it home from the dealership.

For example we know that Vauxhall's have some amazing deals on at the moment. We also know that they have just face lifted the Zafria. Just like many many other manufactures just before the launch of the new model there where some outstanding once in a life time deals on the old model. We spoke to a gentlemen earlier in the year who had bought a pre-registered petrol Vauxhall Zafria with no air conditioning for just over £10,000. That is a massive discount.

So What would happen if his Zafria was written off in three years time?

Even if he had protected himself with a standard return to invoice gap insurance policy getting the full purchase price you paid back for your Zafria would still leave you thousands and thousands of pounds out of pocket and short of buying another new Zafria.

This is exactly where vehicle replacement gap insurance is designed to help as instead of your own insurance company offering the market value and you gap insurance simply topping it back to the invoice price you are paid to the replacement cost.

Don't forget that normal inflation, labor rates, transportation and raw material increases means that the chances are that it will cost you a lot more to replace your Vauxhall in two, three or four years time. So while the example of the Vauxhall Zafria may be extreme we hope that you understand the principle.

Please also remember that unlike many other vehicle replacement policies we will never try to find another Vauxhall for you.

You may want exactly the same model again but you may not. So by paying you the funds we think it puts you back in control over how, when and where your money is spent. Also unlike many other policies if you have bought a pre-registered Vauxhall within 90 days of it being registered and your garage was the first and only other keeper than any settlement will be based on he cost of a brand new vehicle not a pre reg.

Our vehicle replacement policies have many special features so why not click or call and see just how easy protecting your Vauxhall can be!
 

Your Local Vauxhall dealership  will have most likely offered you a return to invoice gap insurance policy, the most common of our policies and most likely given you a quote in the region of £395.00 inclusive of insurance premium tax.

So what is return to invoice gap insurance and what can it do to protect your Vauxhall?

Why do you need gap insurance protection?

Well, soon after purchasing your brand new Vauxhall motor trade experts estimate that it will like the average vehicle on the road today lose up to 50% of its market value within the first three years. This is a major issue for you as, if you were to write off your vehicle or if it were to be stolen in this period then your comprehensive insurers would only pay out what the vehicle was worth on the day it was written off potentially leaving you in a heap of financial crisis.

For Example

If you buy the new Vauxhall Corsa Hatchback with 1.2 litre engine and five doors for an estimated price of £13,460 within the first year alone it will be worth approximately £6,875 potentially losing you just over £6,000.

However, we can help with a return to invoice policy as we will pay the difference between the market value of your Vauxhall on the day it was written off and the invoice price you originally paid for the vehicle.

Your comprehensive motor insurers will pay the market value of your Vauxhall on the day it was written off and we as your gap insurance providers will simply pay the difference between this figure and your original invoice price for your vehicle rightfully returning to you the full purchase price of the vehicle. Please note that your road fund tax you will have paid, will not be covered as you are eligible to claim back from the DVLA.

Whilst you believe that it wont be you who has their car stolen or you who has an accident, in the past 12 months alone an estimated figure of a colossal 600,000 vehicles have been stolen or written off in the U.K.. 

With policy prices of less than £39.00 for one years gap insurance for your Vauxhall why not click or call and speak to a member of the team?

It is more than likely that when you purchased your brand new Vauxhall on finance or contract hire that the dealership will have offered you gap insurance to protect yourself in years to come. You may have also been given a quote of around £395.00 from your dealership which is the average quote given by dealerships across the U.K...

However, you could have a years cover from £39.00 inclusive of insurance premium tax today with us so why not take a fresh look at finance and contract hire gap insurance for your Vauxhall?

So what is finance gap insurance and what can it do to protect your Vauxhall.

Although, many individuals do believe that it wont be them who have an accident and write off their vehicle or them who wake up to find their car has been stolen, an estimated 600,000 in the last 12 months alone have been stolen or written off. If you were to have an accident or have your car stolen, your motor insurance company would only ever pay what the market value of the car is on that day.

Whilst you may believe it wont be far from the original price you paid it for it, motor trade experts estimate that within three years of purchasing a new car it will lose up to 50% of its original value potentially leaving you in a significant amount of debt with the finance or contract hire company.

In terms of figures for example, you have purchased a brand new Vauxhall Corsa Hatchback with 1.2 litre engine and five doors for an estimated price of £13,460 and you have an unfortunate accident and write the car off three years after purchasing, the market value of the car had reduced down to as low as £6650 which your insurance company has agreed to settle with leaving you with a financial loss of £9,000 a huge proportion of which you will owe to the finance company, who could, if they desire decide to demand this figure within a matter of weeks.

This financial disaster however, is easily avoidable as finance gap insurance policy will pay the difference in the market value of your car and the outstanding finance you owe the finance or contract hire company.

The only non non-refundable element is the road fund tax which you are eligible to claim back from the DVLA and any late payment charges or arrears.

This means that with finance and contract hire gap insurance should the worst happen then you are free to walk away from you old Vauxhall with no further financial liability.

Why not click or call and speak to a member of the team about your finance and contract hire gap insurance options and how it could help protect you if your Vauxhall is written off?

Vauxhall Motors, or Alex Wilson and Company, as it was originally founded is argued to be one of the greatest names of British manufacturing. Founded by Alexander Wilson in 1857, the company first began manufacturing marine engines and extended into the auto mobile industry with the name, Vauxhall Steel Works in 1903 with the production of the five horsepower engine model. The company in 1925 was then bought by General Motor's (GM), the leading auto mobile manufacturer in the United States who has pro-longed Vauxhall Motors success until this very day. In 2003, Vauxhall celebrated its century and is now the longest lived British marque of all time.

The History of Vauxhall

 Vauxhall Motors have came a long way with its car development since its production of its first model, the five horsepower engine, which entered the market in 1903 without the ability to reverse and with a price tag of £136. The following year, 1904 brought a six horse power engine model with the then impressive ability to reverse into the market. By 1911, Vauxhall Motors as it was now known produced Britain’s first sports manufactured auto mobile, the C-Type Prince Harry. By the 1930’s, Vauxhalls appealed vastly to the family market with its Cadet model, which developed into the Viva in the 1960’s, the Cavalier in the mid 70’s and then the Astra, which still rides the streets today in great numbers. The company even entered the Tank and aircraft market during the Second World War, most notably with the Churchill tanks.

Vauxhall in 2012

 Vauxhall is without a doubt, a vital UK employer with its two manufacturing facilities, Luton and Ellesmere Port, consisting of over 35,000 workers. In 2011, General Motors announced its intention to move production from its Ellesmere Port plant overseas which was overturned due to heavily UK government intervention. General Motors instead rewarded the Ellesmere Port facility with the contract to build the new Astra and an additional investment of £125 million.

The famous Vauxhall Motors griffin emblem originates from the 13^th century when King John awarded a solider, Fulk le Breant with the ‘right to bear arms’ for which he choose the Griffin as his heraldic symbol and Luton as his residence which would later become the auto mobile manufactures first home.

EasyGap has received a Defaqto 5 Star Rating for it's Vehicle Replacement Gap Insurance, Return to Invoice Gap Insurance and Finance and Contract Hire Gap Insurance Products. Defaqto is an independent financial research and software company that specialises in rating, comparing and analysing financial products and funds.