Buy Gap Insurance for your Volvo

How can Easy Gap help you and your Volvo?

Volvo vehicles are amongst the worlds most prestigious models, however, whilst they may be amongst the worlds most prestigious vehicles, they will be susceptible to losing value. This is known as market value depreciation. Market experts have stated that the average vehicle will lose as much as 50% in the first three years of ownership. 

As you may well know, if your Volvo is ever written off your motor insurer would only ever pay you the market value of your vehicle on that day. This would leave you thousands of pounds out of pocket and possibly with the inability to purchase a new vehicle. However, Gap Insurance from Easy Gap can help.   

Vehicle Replacement Gap Insurance for Volvo

Vehicle Replacement Insurance has been labelled as being the most innovative type of Gap Insurance for you to consider. This is because this form of Gap Insurance has the ability to protect both the depreciation to your vehicle as well as the appreciation to the cost of a new one. Vehicle prices are constantly increasing year on year and the chances are in three years time, the price of your Volvo will have increased.

Vehicle Replacement Insurance will cover the difference between the market value of your vehicle on the day it was written off (i.e your motor insurance settlement) and the cost to replace the vehicle with the same age, mileage and specification as yours was on the day of purchase.

If you have purchased your Volvo at a discounted price then this level of cover may be more than suitable for yourself.

What is return to invoice gap insurance and what can it do to protect your Volvo?

This form of Gap protection is likely to be the form of Gap Insurance offered to you during the purchase process of your Volvo model. It is genrally the dealerships first choice due to the simplicity in terms of explaining how the Gap Insurance works.

Return to Invoice Gap Insurance does exactly as it suggests and will cover you back up to the invoice price that you paid for the vehicle.

Your motor insurer will pay you the market value of your vehicle on the day it was declared a total loss and the Gap Insurance will pay from the settlement figure back up to the original invoice price that you paid for the vehicle. This will give you the full balance, deposit and equity and the ability to clear any outstanding finance if any.

Lets look at what finance gap insurance for your Volvo can do and how it works.

Due to the fact that you have acquired your vehicle on finance / contract hire, in the event of your Volvo being written off or stolen, you will still have outstanding payments due to your finance company. Obviously, you will look to your motor insurance and you may believe that this would take care of this disaster for you, sadly this is not the case. Your motor insurance, although necessary to be able to drive on our roads, will actually only pay you what your Volvo was worth on the day it was stolen/written off.

With current trends and depreciation rates this is usually a significant amount less than what the vehicle was originally worth, the amount you paid and even the amount that you still have outstanding on finance.This could leave you out of pocket with a significant amount of money left to find on your own, to pay your finance company.

Finance and Contract Hire Gap Insurance will cover the difference between your motor insurance settlement and the amount outstanding.
Volvo is a Swedish auto mobile manufacturer of trucks, buses and construction equipment and a former manufacturer of cars.

The company was originally founded in 1915 as a subsidiary of AB SKF, a Swedish ball bearing manufacturer, hence the name Volvo, which is Latin for ‘I Roll’ in relation to its ball bearing history. Volvo however considers its true founding year to be 1927 when the first car, the OV 4 series, known to many people as ‘Jakob’ was introduced to the auto mobile market.

In 1924, Assar Gabrielsson and Gustav Larson, two employees of AB SKF had a vision to design a car which would be able to withstand the rigours Scandinavian climate and road conditions, which the current US imports did not cater too. The two friends succeed with this vision and established a successful, respectable car brand.  

In 1999, Volvo sold its car division to the American auto mobile giant, Ford, who after enjoying limited success, then sold the brand to the Chinese auto mobile manufacturer Geely.

Towards the end of 2012, Volvo announced that they would not be entering the electric car market, however, it seems that the Swedish firm quickly changed their view on the electric car market and decided to introduce a new electrically powered vehicle. The new model has gone toe to toe with the likes of the Nissan Leaf and the new BMW i range of electrically powered models.

The Volvo firm have also proudly joined the race to push on road safety as they trial new safety concept models. The manufacturer has also been focusing on lowering emissions and increasing the fuel economy on vehicles and insist that in just a few years time, Volvo petrol powered models will be more efficient and have lower emissions than electric vehicles on the roads today.
Why choose Gap Insurance from Easy Gap for your vehicle?