Chevrolet Gap Insurance at Easy Gap

Due to the Chevrolet brand being in short demand in the UK, it may have more of a lasting effect on the depreciation rates. Depreciation is simply the rate at which your vehicle will lose value and yours like any other will be susceptible of losing value. A recent report has confirmed that the average vehicle will now lose as much as 50% within the first three years of ownership. Not only that, Chevrolet have announced within the last 12 months that they plan on taking a break from the UK market and re-introducing models at some point in the future. Again, this may have an affect on the value of your vehicle.

If your Chevrolet model was declared a total loss, your motor insurance company are only liable to pay you the market value of your vehicle on the day it was declared a total loss. This results in you being left financially vulnerable and this is where Gap Insurance can help.

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

Put simply, Vehicle Replacement Insurance 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.

What you may not have considered is that over time prices for new vehicles tend to increase. Vat changes, manufacturing costs, 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. This is only increased by the recent decision by Chevrolet to pull the sale of models in the UK for the time being.

How can Return to Invoice Gap Insurance help you and your Chevrolet?

This form of protection is more than likely to have been the level of cover discussed during the purchase process of your Chevrolet. However, you may not have understood the explanation or disliked the quotation of which they offered and have therefore decided to carry out further research online.

Return to Invoice Gap Insurance is said to be the most popular form of Gap Insurance within dealership networks up and down the UK. This form of protection will cover the difference between the market value of your vehicle (i.e your motor insurance settlement) and the original amount that you paid for your vehicle. You will have the ability to clear any outstanding finance and the full balance, deposit and equity is yours to do with as you please. It is as easy as that!

Finance and Contract Hire Gap Insurance for Chevrolet

When purchasing 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, the finance company still need payment for the outstanding finance balance. This means that you could be left paying thousands in outstanding rentals in the event of your vehicle being written off. This is how Finance and Contract Hire Gap Insurance can help you. Did you know this was the first form of Gap Insurance and was invented in the US? It has been available in the UK since the late 1990's and many people still label the cover as Gap Insurance itself.

This level of cover will protect the difference between the market value of your vehicle on the day it was written off (i.e the motor insurance settlement) and the amount of finance you have outstanding on the model. This will ensure that you are not financially liable for any shortfall.

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.

The main news surrounding the Chevrolet brand has to be the announcement made by the US manufacturer to no longer sell new models in European car markets. The main Cheverolet brand is one of the best selling brands in the US and has been for a long time, however, the firm have invested millions into the marketing and development of the brand in the European car market and have failed to see an increase in sales.

However, since the news broke of the European withdrawal, Chevrolet announced that the new Corvette Z06 model will be available across the world and in markets that include the UK. The new Corvette model will be fitted with the 6.2 litre supercharged V8 engine that will rival the success of the Mercedes, Porsche and Lotus developments.

After a withdrawal of nearly two years, Chevrolet are still yet to announce a date to return to the UK new car market. However, we believe that the design process is well and truly underway for a new range of models designed specifically for the European Car Market. 
Chevrolet Gap Insurance at Easy Gap!