Buy Jaguar Gap Insurance

Why buy Gap Insurance for your Jaguar?

Jaguar models represent a significant investment by their owners with models such as the award winning XF very popular on lease and outright purchase. Unfortunately, Jaguar models are still targets for car thieves and can be just as likely to be in an accident as any other vehicle.

If your Jaguar is deemed a 'total loss' by your motor insurer then you can stand to lose a substantial sum whether you have the vehicle on a lease, hire purchase or have even paid cash for the vehicle. This is where Gap Insurance for your Jaguar can help.

What can vehicle replacement insurance do to help protect your Jaguar?

Vehicle replacement insurance will pay the difference between the valuation of your Jaguar on the day it was written off and the amount of money you would need to spend to buy another Jaguar the same age, mileage, condition and specification as yours was on the day that you first drove it home form your dealership. If that model is no longer available then settlement is based on the cost of the superseding model.

Please also note that if you have bought a demonstrator model or a pre registered vehicle within 90 days of it being first registered and your garage was the only first keeper then settlement would be based on the cost of a brand new model.

What is Return to Invoice gap insurance and what can it do to help protect your Jaguar?

Return to invoice gap insurance is the most commonly offered form of gap insurance in main dealerships. Simply put, if your Jaguar is written off it pays the difference between your own motor insurance companies settlement and the original invoice price you paid or the amount that you still have outstanding on finance whichever is the higher.

Essentially between your two insurance policies you are paid the original invoice price you paid back (less your road fund which you can claim back from DVLA). From this you can clear any outstanding finance if necessary and then the remaining funds, the deposit you paid and the equity you have accrued is yours to do with as you see fit.

What is Finance Gap Insurance and what can it do to help protect Jaguar?

Finance gap insurance is the oldest and easiest form of gap insurance to understand. Simply put, if your Jaguar is written off it pays the difference between your Jaguar's valuation and the amount that you would need to clear your financial liability.

This could be from a hire purchase agreement, contract hire, operational lease or any form of finance which is directly linked to you Jaguar. Please note that if you have purchased your Jaguar using a bank or personal loan you will need to consider other forms of protection.

It is an unfortunate misconception that if your Jaguar is written off that the finance agreement simply stops, as this simply is not true. Your finance or contract hire company while being helpful and sympathetic will still need to be paid. Don't forget that all cars Jaguar including will lose value over time in fact motor industry experts predict that the average vehicle can lose up to 50 % and even more within the first three years alone.
Jaguar are set to rival the success of the BMW 3 Series this year as they look to release a new XE saloon model. The new XE model first dubbed as the 'baby Jaguar', is said to have better fuel economy and emission figures as well as being available for a better price. The British based brand are also set to release a brand new XF-R Sportbrake model that will available for somewhere in the region of £82,000.

There have also been a number of sightings regarding the Jaguar GT3. The Jaguar GT3 is set to be the British based firms answer to the Porsche 911 and expect the model to achieve a considerable amount of sales in markets such as the Chinese.
When you start to shop online for gap insurance you may be forgiven for thinking that there must be some difference in levels of protection, especially if your local Jaguar Dealership has just quoted you for their level of cover.

The national average is normally in the region of £395.00 for three years cover, but, there is a manufacturer who charges over £800 and a finance house who when the monthly payments are adjusted quotes a total equivalent of over £1295.

Why is this? It has nothing to do with levels of cover, support, back up, service, claims handling or expertise. Instead when you buy gap insurance directly from the dealership or finance company, they are legally bound to charge you insurance premium tax at 20%. When you buy online this drops to the standard rate of Insurance Premium Tax, which is traditionally a lot lower than VAT.

Also gap insurance is just like any other business transaction. Volume matters. For example, instead of just buying one Jaguar if you where buying 10,000 you would expect to be able to negotiate a better price per Jaguar. This is exactly what we do and in fact some online suppliers like us can provide a years worth of Jaguar main dealership gap insurance quota in a matter of days, naturally our supplier price is much lower.