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Vehicle Replacement Gap Insurance for Mazda

Vehicle Replacement Gap Insurance is usually not commonly offered by your motor dealer, but is probably the most comprehensive type of Gap Insurance.

So why should you consider protecting your Mazda with vehicle replacement insurance?

Instead of protecting just the amount you have paid for a vehicle, or the outstanding balance required to pay a finance company, (RTI and Finance Gap Insurance) you are in fact protecting the standard your vehicle.

Vehicle Replacement Gap Insurance ensures that If your car is written off or stolen, after your motor insurance company has paid the you what your Mazda was worth on the day, which is all they are legally obliged to settle, that this type of Gap insurance will pay the amount of money you need to be able to purchase the same exact standard of Mazda that you first drove away from the showroom in, same age, mileage etc even if it has gone up.

Over time, the value of cars depreciate, hence the amount your motor insurance will pay you (the amount it was worth on the day it was written off) which would have decreased. However equally as your Mazda is depreciating the cost to replace it is increasing, chances are even if your Mazda was not written off and you simply wanted to change it in a few years time it would cost you more.

Rates of VAT, labor costs, manufacturing and transportation, raw materials, exchange rates could all means that it could cost you thousands of pounds more to buy the same exact vehicle, if say you were insured with RTI Gap Insurance, which will only pay you the amount you originally paid for your Mazda and not the increased cost you would need to spend.For example, if you were in possession of a beautiful Mazda MX-5 Cabriolet that you paid £19,995 for, based on a nominal inflationary interest of 3%, within a year, without taking any of the other manufacturing costs etc into account, the amount would have raised to £20,594.85 and this is likely to be a lot more.

By protecting your Mazda with Vehicle Replacement, you can rest assured that if you are unfortunate enough to be involved in an accident in which your car is written off or you are the subject of vehicle theft, that you will be paid the amount to you need to be able to buy another Mazda MX-5 Cabriolet, the exact same mileage and age of yours. As we do not find a car for you and instead pay the cash equivalent you are back in the driving seat about how, where, when and on what your money is spent.

Return to Invoice Gap Insurance, although being a great cover for certain vehicles, will only ensure that the amount you paid for your car will be reimbursed, so unfortunately members of the public who do not realise this expect a brand new version of the car they paid for on their driveway and this is not the case.

Your car may have shot up thousands of pounds by the time you are making a claim, leaving you with a huge chunk to pay if you are determined to have the same car again. Even if you would not like the same car again, it is worth insuring that you are reimbursed with the amount to ensure you are able to purchase the same standard of vehicle, otherwise you really could find yourself thousands of pounds short in comparison to what you actually want.

Why not click or call and talk to a member of the team about the vehicle replacement insurance options for your Mazda.

As you have landed on this page, we can assume that you want to learn more about Gap Insurance and Return to Invoice (RTI) and what it could do to help protect you and the financial investment you made when you bought your Mazda.
 
Please take three minutes of your time to read this article which we hope will give you the information you need to be able to explore you gap insurance options. We have used the Mazda MX-5 for illustrational purposes.
 
Three years ago, your dream came true when after a full years of saving and avoiding the regular summer holiday, you bought a navy blue MX-5 Coupe Cabriolet 1.8i SE 2dr model for £19,995. You were so impressed that, you even became a member of Mazda UK owners club.

At the time of purchase, you took the relevant motor insurance cover out and were surprised how great the cover was, it was good value and fully comprehensive insurance covered you in a range of circumstances, including if your car was written off.
 
However, three years later, you came to question how 'great' this cover actually was when you were involved in a car accident which thankfully left you unhurt, but your Mazda written off.  

Your insurance company informed you that they can pay you a settlement figure of £8826 and explained to you a fact, so few motor drivers are unaware of today, that the average vehicle looses up to 50% of its original value within the first three years alone.

In simple terms, your Mazda MX-5 at the time of the incident was worth only £8826, which meant it had lost a staggering £11,169, despite the great care you had given it over those past three years and the limited mileage it has done.
 
Return to Invoice (RTI) Easy Gap Insurance is the most popular form of Gap Insurance for the Mazda brand. At the time of the incident, if you had RTI Easy Gap Insurance, you would not only receive the £8826 from your insurance company, but we would pay you the £11,169 difference you lost, which would simply go straight into your bank account with no strings attached as well as £250 towards your own motor insurance excess.
 
*Figures taken from the Car Deprecation Calculator website. If your accident occurred in the first year, your Mazda would be worth £13,051, the second year, £10,749, the third year, £8826 and the fourth year, believe it or not, £7524*
 
To get a fair, low cost quote today, please click the QUOTE ME option on our home page or call our friendly sales team on 0800 195 4926, we sincerely hope you understand how important Easy Gap Insurance could be for you, your Mazda and most importantly your finances.

Finance and Contract Hire Gap insurance for Mazda

If you having just bough a Mazda your local Mazda Dealership will have spoken to you about their form of gap insurance. So perhaps you simply want more information or just a better deal?

So what is finance Gap insurance and what can it do to help protect you and your Mazda?

What would happen if when you leave the house on a regular Monday for work, your find beautiful Mazda is not where you left it. Now either someone is playing a rather horrible trick on you, or you are one of the victims of car theft.

Along with this utter heartache of losing your car, unfortunately if your car was attained through finance, you may not be aware that the outstanding amount is not wiped out of good will, finance companies will still have to be paid and you are still liable.

Similarly if your car was acquired through Contract hire, your contract hire company are within their rights to ask for a contribution towards the outstanding rentals. They may call it many different names from back rentals, to advance payments to settlements but it is exactly the same as it is a physical amount that you will have to pay to walk away from your financial liability to your old Mazda.

So how could this happen after all this exactly what car insurance is for isn't it?

Some people are unaware of the fact that your motor insurer is only legally liable for and will usually only pay you what your car was worth on the day it was stolen/written off. This is usually a significant amount lower than the amount you bought it for, based on recent car depreciation rates. In fact motor industry experts say that the average car including your Mazda can lose up to 50 % within the first three years alone.

For example what car show how significantly Mazda prices can be affected within the first few years of ownership.

Mazda MX-5 Coupé Cabriolet 1.8i SE 2dr bought at £19,995, Year 1 £13,051, Year 2 £10,749, Year 3 £8,826, Year 4 £7,524

Mazda CX-5 Crossover 2.0 Skyactiv-G 165 SE-L 5dr bought at £21,395, Year 1 £14,675, Year 2 £12,176, Year 3 £10,124, Year 4 £8,751

Mazda 2 Hatchback 1.3 75 TS AC 3dr bought at £10,495, Year 1 £7,075, Year 2 £5,825, Year 3 £4,775, Year 4 £4,100

So imagine being in this position, no car and an outstanding balance you are either going to have to delve deep into your savings for, or achieve the funds from elsewhere, a stressful and uneasy task in most cases.

So this is where Finance Gap insurance can help you, if you do find yourself in this situation, or your Mazda happens to be one of the 600,000 written off in the UK each year, with Finance Gap insurance, at least the financial aspect is taken care of as along with your motor insurance, Finance Gap insurance will ensure that the full amount still owed on your vehicle will be paid. Please note that late payment charges and arrears would not be covered , however we would still pay £250 towards your own motor insurance excess.

Yes finance gap insurance is all about the risk and how a certain event will affect you.

However with finance gap insurance for your Mazda from as little as £39.00 inclusive of insurance premium tax is it really a risk you want to take after all it is your money your Mazda and your choice as it would be you who would have to cope with the financial repercussions.?

Toyo Cork Kogyo or Mazda as it is known today is a Japanese auto mobile manufacturing company founded in 1921 in Hiroshima, Japan. It was renamed Mazda in 1931 after its founded Jujior Matsuda and Ahura Mazda, the God of light and Wisdom, however the company did not formally adopt the Mazda name until 1984.
 

Madza - where it all began

Mazda first began manufacturing machine tools and drilling equipment and also supplied the Japanese military with weaponry during the World War Two, most notably with the type 99 rifle. Despite this, World War Two prevented any serious development of the Japanese manufacturing company auto mobile sector. Mazda produced its first auto mobile in 1960, the R360 coupe which was soon developed into the more modern model in 1964, the Familia, who’s success paved the way for Mazda to become the third biggest car manufacturer in Japan.

Mazda move global

The Japanese manufacture expanded West into the Canadian market in 1968 and then the American market in 1970 were they enjoyed relatively success until the world oil crisis hit in 1973 and faced near bankruptcy. From 1979 to 2010, the Japanese auto mobile manufacturer partnered with its American ally, the Ford Motor Company, which resulted in great success, most notably with the extension of its auto mobile resume. Mazda-Ford continues to enjoy a productive working relationship after Ford sold its stake in 2010 as the result of the struggling American economy.

To the interest of many, Mazda over the years have experimented with a wide range of entertaining advertisement slogans, including ‘the more you look, the more you like’, ‘it just feels right’, ‘get in, be moved’, ‘zoom, zoom’, ‘zoom, zoom forever’ and to no surprise, ‘zoom, zoom, today, tomorrow, forever’. Mazda’ has also experienced with its emblem six times since 1936 with the current redesigned symbol resembling an M (for Mazda) stretching its wings for the future.

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 service sector including advisers, mortgage and general insurance brokers, product providers, web aggregators and the public sector. We are extremely pleased to announce that EasyGap has been awarded a Defaqto 5 star rating for the following products: Combined Return to Invoice Gap Insurance, Vehicle Replacement Gap Insurance and Finance and Contract Hire Gap Insurance. Please refer to the Defaqto star ratings to see how other Gap Insurance suppliers compare!