Buy Chevrolet Gap Insurance

What is vehicle replacement insurance and what can it do to help protect you and your Chevrolet?

Vehicle replacement is designed to pay the difference between your Chevrolet's valuation on the day it is written off and the amount of money that you would need to spend to buy another  Chevrolet the same age, mileage and specification as yours was on the day that you first drove it home from the dealership.

If that model is no longer available then settlement is based on the superseding model.

So what does Vehicle replacement actually do in cold hard monitory terms if your Chevrolet is written off and why should you consider it?

We all know that vehicles including your Chevrolet will lose value over time.

Equally we all accept that your own insurance company will only ever pay you what your Chevrolet is worth on the day it was written off.

What you may not however consider is that over time prices for new cars, motor bikes and vehicles in general tend to increase.  Vat changes, manufacturing costs, labor rates, the cost of transportation and raw materials all means that buying the same equivalent Chevrolet again in say two, three, four or even five years time is most likely going to cost you more money.

For example lets say that you have just bought a fabulous Chevrolet Captiva and paid in the region of £14000. Using the average rates of deprecation of 50 % within the first three years lets say that your Captiva is written off in three years time and lets say it is therefore worth £7,000.

With out any form of gap insurance what so ever and with out having to use your saving's this would be the only amount that you would have to be able to clear your finance or replace your Chevrolet.

So lets play devils advocate and say that you had protected yourself with a form of return to invoice gap insurance which when your Chevrolet is written off naturally means that between your two insurance companies you now have the full price you original paid back. 

Insurance companies settlement £7,000
Gap insurance £7,000
Purchase price £14,000.( less road fund which you can claim by from DVLA ) 

The problem is that even with marginal inflationary increase and not allowing for manufacture increases the cost of buying another Chevrolet has now risen to £15125.

So in effect there is still a shortfall of £1125 that you will have to pay in order to be able to buy another equivalent car.

With vehicle replacement there would be no shortfall instead you would be paid the full amount that you need to be able to replace your Chevrolet.

Our policies are some what different from many others that you may find in that we will never try to find another vehicle for you instead we will always pay you the cash equivalent. You may want exactly the same car again however you may not and by having the funds ready we feel it is a really important distinction that you should chose how, what and when your money is spent.

Also if you have bought a pre registered Chevrolet within 90 days of it being registered and your garage was the first and only keeper then settlement will be based on a brand new model and not a pre reg.

We pay towards your own motor insurance excess, policies are transferable, deferrable cancelable with many more additional benefits.

Gap Insurance over for you Chevrolet starts from as little as £39.00 inclusive of insurance premium tax for a one year policy.

So why not click or call and speak to member of the team about your vehicle replacement options and your Chevrolet.

Too few people today are unaware of Gap Insurance and how it could help protect your Chevrolet so please take two minutes to read this easy to read explanatory article.
 
For illustration purposes, you have just paid £8475 for a Chevrolet spark hatchback 1.0i + 5dr, after years of saving for this dream vehicle.
 
However three years later, disaster strikes when you woke up one morning and seen that you’re still immaculate Chevrolet Spark is nowhere to be seen.

You report the theft to the police who inform you the next day that your once beloved Chevrolet has been found in the local park in a written off condition.
 
You inform your insurance company about the unfortunate incident who give you more of a shock as they offer you the market value of £3151. Figures where taken from What Car November 2012, please do not forget that the average vehicle looses up to 50% of its original value within the first three years, a fact which too many of today’s drivers are simply unaware off.

You have now lost £5324 in three years and that is a lot of money for any one to have to absorb no matter what their circumstances.
 
According to the Office of National Statistics, there were 92,000 cars stolen in 2011/12, with an estimated total of 600,000 vehicles written off in total.

Return to invoice Easy Gap Insurance can help you in this situation, in a simple, easy way. Your policy would pay you the difference between the invoice price you paid for the Chevrolet Spark (£8475) and the price the motor insurance company (£3151) which is £5324 on top of your insurance price of £3151. Please note this does not include your motor tax, however this can be reimbursed by the DVLA.
 
*The figures quoted in this article are from What Car Deprecation Calculator website. Your Chevrolet spark hatchback 1.0i + 5dr after the first year is worth £4679, the second year, £3867, the third year, £3151 and the fourth year £2698.
 
For more information on Easy Gap Insurance and how it could help protect your Chevrolet, please search our easy to use website and click the QUOTE ME option for a reasonably priced return to invoice or CALL US on 0800 195 4926 between Monday to Friday 9am-7pm and Saturday 10am-4pm to speak to a simple, easy member of our sales team.

Finance Gap and Contract hire Insurance for Chevrolet

Nobody ever thinks it's going to be them who has their car stolen, nobody ever thinks it's going to be them who are involved in an accident!

Unfortunately these occurrences happen daily and with finance gap insurance you can ensure that you are fully protected for any nasty financial surprises that you weren't expecting.

When buying your Chevrolet on finance, although the monthly payments are a great idea, not many people realise that if your car is written off for whatever reason, or you are the subject of car theft, the finance company still need payment for the outstanding finance balance.

This is also the case with contract hire vehicles, the funds are still outstanding, they aren't brushed under the carpet in an effort of good will.

Please remember that your motor insurance company will more than likely only pay back what your car is worth on the day it is written off/stolen.

With current rates of deprecation this can be as much as 50 % less than you originally paid with means that even after your own insurance company have settled there is still a shortfall which you are liable for.

For Examples of Chevrolet depreciation based on recent figures, proving the amount lost within the first few years of purchase. ( figures taken fro What Car 2012.

Chevrolet Aveo hatchback 1.2 LS 5dr bought at £10,295, Year 1 £4,767, Year 2 £3,932, Year 3 £3,218, Year 4 £2,752

Chevrolet Camara Convertible 6.2 V8 405 Auto 2dr bought at £41,525, Year 1 £25,152, Year 2 £20,875, Year 3 £17,349, Year 4 £15,049

Chevrolet Captiva Crossover 2.2 VCDi 163 LS 5st 2wd 5dr bought at £22,505, Year 1 £12,175, Year 2 £10,028, Year 3 £8,212, Year 4 £7,00

This is where Finance Gap insurance comes in, if you are covered by Finance Gap insurance along with your motor insurance, the remaining outstanding balance will be paid in full, leaving you free to walk away with no further financial liability.

Chevrolet is an American auto mobile manufacturer, founded in 1911 by Louis Chevrolet and William Durant and currently a marquee of General Motor.

In 2010, one Chevrolet was bought every seven seconds across the world (cars or trucks) and became the top selling auto motive brand in the United States in 2011.

Chevrolet was founded to counter the success of the Ford Model T in the 1920’s. In 1910, William Durant, a former manager of General Motors and current manager of the Buick Motor Company sponsored the successful Swiss race car driver Louis Chevrolet to drive the Buicks models in race competitions. He was the Michael Schumacher of his day.

The two men soon came together to form the Chevrolet Motor Car Company. The first car to bear the iconic Chevrolet name was the ‘Series C Classic Six’ model in 1912. The American auto motive company would go from strength to strength and would become known for their quality, reliability and affordability vehicles.

These unique features allowed Chevrolet to take over the Ford Model T, its founding aim and became the number one car manufacturer for 40 years straight from 1936 to 1976, the company still today remains one of the world’s fastest growing brands.

Today, one of every sixteen cars on the world’s road is a Chevrolet. The current product portfolio includes the Spark, Cruze Saloon, Trax, Orlando, Captiva, Volt and the Camaro. Chevrolet currently provides one in every ten US jobs and continues to expand throughout all corners of the world, in particular the emerging markets of Brazil, Uzbekistan, Russia, India and Colombia. To this date, the company has manufactured over 200 million vehicles since 1912.

To the interest of many, the company expanded into the watch market in 2007 and released their watch collection line in respect to founder Louis Chevrolet who was born into a Swiss watch making family.

Defaqto is an independent financial research and software company that specialises in rating, comparing and analysing financial products and funds. Their experts validate and analyse the data to provide insight and consultancy to all layers of the financial services sector including advisers, mortgage and general insurance brokers, product providers, web aggregators and the public sector. EasyGap has received a 5 Star Rating for it's Return to Invoice, Vehicle Replacement and Finance and Contract Hire Gap Insurance products. Please refer to the Defaqto Star Ratings to see how other Gap Insurance providers compare.