Buy Gap Insurance for Mitsubishi

Protect your Mitsubishi with Gap Insurance at Easy Gap

If you have recently purchased a Mitsubishi model at your local dealership, it is most probable that you will have been introduced and offered Gap Insurance, but to understand how it works, you must first understand why you would need it. 

Your vehicle is susceptible to depreciation which in effect means it will lose value over the course of ownership, the average vehicle is said to lose as much as 50% within the first three years of ownership. However, if your Mitsubishi was declared a total loss after being stolen or in an accident etc, your motor insurer would only ever pay you the market value of the vehicle on that day which leaves a very big financial gap.

Vehicle Replacement Gap Insurance for Mitsubishi at Easy Gap

Vehicle Replacement Gap Insurance is described as being the most comprehensive level of cover for you to choose from due to the ability to protect you from both the depreciation to the cost of your Mitsubishi as well as the increase to the cost to purchase a new Mitsubishi.

If you have purchased your Mitsubishi at a discounted price or in the knowledge that the vehicle may be replaced within the range, then this form of Gap Insurance may be more than ideal for you.

Vehicle Replacement Insurance will pay you the difference between the market value of your vehicle on the day it is declared a total loss (i.e your motor insurance settlement) and the cost to replace your vehicle with the same model, age, mileage and specification as yours was on the day of purchase.

Return to Invoice Gap Insurance for your Mitsubishi

Immediately after purchasing your Mitsubishi, like any other vehicle and manufacturer type is more than likely to begin to depreciate in market value and if it were to be written off or stolen, then your motor company is only ever legally obliged to pay out the market value of your Mitsubishi on the day it was written off.

A return to invoice gap insurance policy however, would be the solution to the financial gap as the policy would pay the difference between the valuation of your Mitsubishi on the day it was written off (i.e your motor insurance settlement) and the original invoice price you paid for the vehicle.

Put simply, between your comprehensive insurance and your gap insurance return to invoice policy you would be reimbursed the full purchase price you paid for the vehicle. This gives you the ability to clear any outstanding finance, if any and the balance, deposit and equity is yours.

What can Finance and Contract Hire Gap Insurance for Mitsubishi do for you? 

Don't forget that just because your Mitsubishi has been written off your finance or contract hire company will unfortunately still need to be paid and without any form of gap insurance you are financially liable. 

This applies to business owners who have Mitsubishi funded via Contract Hire or lease also, even personal users of contract hire, finance companies can not simply write the loss off and do not forget about outstanding amounts overnight. They may call it something completely different, however, it is in principal exactly the same as it is a financial amount that you are liable for over and above your Mitsubishi's market value on the day it was written off.

This is exactly where contract hire gap insurance can help as it simply pays the difference between your Mitsubishi's valuation on the day it was written off and clears your financial liability.

Mitsubishi is a Japanese auto mobile manufacturer and currently the sixteenth largest auto maker in the world.

To the interest of many, the word Mitsubishi roughly translates to 'three diamonds', ‘mitsu’ translating into ‘three’ and ‘hisi’ translating into ‘water chestnut’ which is a symbol for diamonds in Japan, hence the three diamond brand logo.The Mitsubishi Group was founded by Yataro Iwasaki in 1870 as a shipping company which later expanded into a wide range of industries including coal, iron, paper, glass, steel, insurance, banking, aircraft, real estate, oil and of course auto mobiles.

Unfortunately the Model A enjoyed little success as it proved to be too expensive when compared to the similar American and European models. The Model A would soon be developed into the model PX33, the first Japanese built 4 wheel car which was originally built for the Japanese military.Mitsubishi enjoyed significant success in the 1960's in the family auto mobile market with the production of the 500, Minica, Colt and the Galant models.
Mitsubishi have recently released a new Outlander PHEV model to give the customer more options in terms of the Outlander range of models. The Mitsubishi Outlander is amongst the brands most successful models in the UK to date and the new PHEV option is only going to further the success of the model.

The Mitsubishi brand have somewhat fallen behind the race to find the alternative fuel and in particular the likes of the hybrid and electric car market. However, the firm have announced that they have been developing new electric powertrains that will be fitted on a new Outlander and Shogun models.

The Japanese firm believe that the future electrically powered 4x4 models will give the brand a distinct advantage over rivals in the market.
When you are looking for gap insurance online for your Mitsubishi, the differences in prices means that you would be forgiven for thinking that the higher prices normally quoted by main dealerships must mean that the levels of protection offered online have to be in some way inferior.

They must be in some way just not as good? After all we are all constantly told that quality costs and that you only ever get what you pay for, so when the price difference can be up to 85% less than Mitsubishi main dealers surely there has to be a catch?

Sorry no, instead there are factual reasons why your local Mitsubishi dealership can never be as competitively priced and it has nothing to do with levels of service, support, customer service, back up, claims handling, experience or expertise.

Instead variances in rates of insurance premium tax, which as your local Mitsubishi dealership have been involved in the sale of your vehicle, they must charge the higher rate of insurance premium tax rather than the standard rate charged by independent suppliers. Sheer volume of sale, in turn better supplier prices means that you really can find the same, if not better levels of protection online for a fraction of the cost.