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Financing your vehicle is a sensible way to spread the cost of your
vehicle; however the last thing you would want to worry about would
be your monthly repayments if you fell ill, had an accident or lost
your job. Here at Holben Vehicle Solutions we can arrange several payment protection plans that protect both the private individual and business user. What is GAP Insurance? Do you realise that even a fully comprehensive vehicle insurance policy is unlikely to pay out the full value of your vehicle. it won't provide enough to replace your vehicle with a new one; and it may not even be enough to pay off any outstanding finance. You could end up with no vehicle and a major financial loss. Gap insurance fills the difference between your vehicle insurance pay-out and the cost of vehicle replacement. Why do I need Gap Insurance? In the UK, car crime accounts for 1/3 of all crime, a vehicle is stolen every minute with a third of them never being recovered. A sad fact is that over 500,000 vehicles become a total loss/write off each year. Gap insurance offers two different levels of cover, so you can make sure you have the protection you need and complete financial peace of mind. To choose the protection thats right for you, consider what you would need if your vehicle was stolen or written-off and if your insurance settlement were to fall well short of your expectations. Level One - Finance Repayment Gap insurance will pay you the diffence between your insurance settlement and the amount you need to pay off your outstanding finance in full - leaving you free to take out a new finance plan to fund a replacement vehicle. Level Two - Purchase Price Refund Gap insurance level 2 will pay you the difference between your insurance settlement and the amount you originally paid for the vehicle - providing ample funds for a deposit on your next vehicle. Both these Insurance policies are in addition to your own insurance claim settlement and are available for new & used vehicles |
