So you've bought a new car - what next?
We all know that buying a new car is probably the second largest purchase you make in life! So of course it's important to carefully consider how you plan to look after it!
We wouldn't be looking after you if we didn't tell you about GAP Insurance for your new car.
WHAT IS GAP INSURANCE?
In 2018 over 100,000 cars were stolen in England and Wales, a 50% increase over the last 5 years*
If your vehicle was written–off or stolen, do you know how much it would cost you? It could be thousands of pounds if your motor insurer only pays out the market value at time of loss. What happens if the motor insurance settlement value is not enough to replace your vehicle or even pay off your outstanding finance?
GAP insurance can help fill the shortfall between your motor insurance settlement and the amount you originally paid for your vehicle or the cost of a replacement vehicle or repay the outstanding finance on your vehicle depending on the level of cover purchased.
Speak to to Wilson and Co to find out more about Vauxhall Finance GAP Insurance.
TWO GAP INSURANCE OPTIONS TO CHOOSE
When choosing your Vauxhall Finance GAP insurance policy you can choose from two types, both giving you multiple benefits.
Option 1: Return to Invoice & Financial Shortfall Gap Insurance
May help pay the difference between your motor insurance settlement and the amount you paid for your vehicle.†
Option 2: Equivalent Vehicle Cover
May help pay the difference between the Motor Insurance Settlement and the Equivalent Vehicle price with no upper limit.†
1 out of every 83 drivers will write their car off yearly. This represents almost 400,000 vehicles per annum.*
A car is stolen every 5 minutes in the UK. Car thefts have increased 45% over the last 5 years.**
Counting The Cost
Insurers paid out £376 million for stolen cars in 2018.† Over £1 billion of written off cars in 2016.*
* Association of British Insurers, 2019, https://www.abi.org.uk/products-and-issues/choosing-the-right-insurance/motor-insurance/written-off-or-total-loss-vehicles/. Directlinegroup.com (GONE IN 90 SECONDS: ONE CAR WRITTEN OFF EVERY MINUTE-AND-A-HALF IN THE UK) Online article published 26 May 2017
**Autoexpress.co.uk (UK vehicle thefts jump 20% in biggest crime spike for a decade) Online article published 21 July 2017. inews.co.uk (A car is stolen every 5 minutes in the UK - here are the country's theft hot spots) Online article published 14th June 2019.
†Whatcar.com (Car Theft Group Test - Britain's Most Secure Cars 2019) Online Article published 7th August 2019.
Terms and conditions and limitations on the extent of cover apply. You must always contact the Administrator, Abraxas Insurance Administration Services Ltd before accepting the motor insurance settlement from your motor insurer. GAP insurance is optional. Interest may be charged if the premium is financed under a finance agreement. No amount will be payable in respect of any credit provided under the finance agreement (if any) which exceeds the purchase price of the vehicle. Please refer to the GAP insurance policy document for full terms and conditions.
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