GAP insurance is extremely useful for many car owners. An acronym for guaranteed auto protection, this insurance model is designed to save the user money and safeguard their finances. It fulfils the role all good insurance plans do; protecting the user.
Still, whether it’ a Hyundai warranty or quality GAP insurance, cars are enormous investments to make and require a great deal of care and foresight into their potential issues and risks.
Consequently, what are the most common vehicle claims that can be covered GAP Insurance?
Written Off Vehicles
When it comes to cars and the need for insurance, most minds drum up the eventuality of an accident. After all, incidents on the road are not uncommon these days, as people become overly familiar, arrogant and generally too comfortable on the roads. Of course, while cautious driving does do a great deal to minimise accidents, there’s no guarantee your car will navigate the roads unscathed.
While GAP insurance won’t cover bumps and scrapes, it will ensure that you get the full cost of your cars original market value in the event of a write off. Although your car undergoes car deprecation and can lose up to 60% of its original value in the first three years, GAP insurance erases these drawbacks and ensures you get everything back if your car is rendered completely dysfunctional in an incident.
Theft
Of course, cars aren’t ever out of danger; even if they’re parked safely on your drive or in your garage. Cars get stolen all the time, especially in urban areas and cityscapes where crime rates are generally found to be higher. Whether they smash a window or hack electric locks, no car is ever truly safe. Still, you needn’t be so vulnerable here.
The theft of a vehicle is still a very real issue in the UK, and GAP insurance can have a positive impact here if your car is ever stolen. They will cover the cost of a replacement vehicle for you, and once again help you secure a car that is worth what you originally paid if it’s new instead of the current market value. In the end, this will help you get back to your normal routine in no time.
Floods and Fires
Chaotic weather can usher in disastrous consequences for many. If you live in an area where floods are particularly prevalent at certain times of the year, then you’re probably no stranger to filing claims on damaged property and belongings. In the end, under such unpredictable times, it’s helpful to be prepared for anything that can go wrong.
Should a flood or fire impose devastation on your car, know that GAP insurance can ease that sting somewhat. Once again, it’ll cover the cost of replacement vehicles, so if you need to make a claim after some particularly turbulent weather, GAP insurance will have you covered here. Remember, GAP insurance won’t cover bumps and scrapes, but if your car has been completely rendered useless from a flood, a claim can be had!