Gap insurance is not a two headed sea creature. Gap insurance is not a brand new t-shirt.
Gap insurance (guaranteed asset protection) is supplementary insurance which must be a consideration or any motorist especially members of the business community.
No one likes to talk of the hard times we live in for fear of perpetuating the dreaded gloom. But the harsh cold reality is that it is not easy to make profit margins with the ever increasing threat of further downturns in trading and consumer confidence.
But things wear out!
But things still need replacing!
Transportation costs are always increasing.
Contract hire or leasing is a cost efficient way of replacing business vehicles while upholding your clients perceptions and reducing the need for expensive repair bills. Low initial outlays and offset monthly rentals can be a god send for any business looking to maintain transportation.
But what happens when things go wrong?
What happens your new van or the latest vehicle is stolen of involved in an accident?
Fact- your own motor insurance company will only pay you your vehicle value on the day it is written off.
Fact - 600,000 vehicles are written off in the UK each year
Fact - As repair costs increase you vehicle is now more than ever likely to be written off instead of having a major repair.
Your own motor insurance pays you the current market value and that is that? Right? No more vehicle no more liability.
With the cost of online polices as much as 85 % less than main dealerships, sourcing your gap protection online is a must for any business owner fleet operator or transport manager.
We know insurance is not funky we know it is not sexy but we know it is necessary!
Gap insurance (guaranteed asset protection) is supplementary insurance which must be a consideration or any motorist especially members of the business community.
No one likes to talk of the hard times we live in for fear of perpetuating the dreaded gloom. But the harsh cold reality is that it is not easy to make profit margins with the ever increasing threat of further downturns in trading and consumer confidence.
But things wear out!
But things still need replacing!
Transportation costs are always increasing.
Contract hire or leasing is a cost efficient way of replacing business vehicles while upholding your clients perceptions and reducing the need for expensive repair bills. Low initial outlays and offset monthly rentals can be a god send for any business looking to maintain transportation.
But what happens when things go wrong?
What happens your new van or the latest vehicle is stolen of involved in an accident?
Fact- your own motor insurance company will only pay you your vehicle value on the day it is written off.
Fact - 600,000 vehicles are written off in the UK each year
Fact - As repair costs increase you vehicle is now more than ever likely to be written off instead of having a major repair.
Your own motor insurance pays you the current market value and that is that? Right? No more vehicle no more liability.
Sorry no your own motor insurance company will only pay you the market value of your vehicle on the day it is written off. Your contract hire or lease company are within their rights to demand that you pay some or all out the outstanding rentals. This could be thousands and thousands of pounds. Add this cost to the need for a replacement vehicle and what was a cost efficient way to provide transport is now punching holes into budget.
Contract hire or lease gap insurance provides a way to protect against this in that in the event of a write off the insurance would clear any outstanding rentals above the market valuation.With the cost of online polices as much as 85 % less than main dealerships, sourcing your gap protection online is a must for any business owner fleet operator or transport manager.
We know insurance is not funky we know it is not sexy but we know it is necessary!
Jackie Verdier Director Aequitas Automotive Limited trading as http://www.easygap.co.uk/ Expert on Gap Insurance Article Source: http://ezinearticles.com/?expert=Jackie_Verdier |
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