Volvo GAP Insurance
If you are looking to protect your latest investment, Volvo GAP Insurance could be your answer!
Famed for the robust Scandinavian build-quality of its engineering, Volvo specialises in premium executive cars that share many of the qualities you’d typically associate with German brands like Audi, Mercedes and BMW. While Volvo hasn’t always matched its German competitors in terms of style and performance, it usually succeeds in offering a smart, distinctive alternative with an appealingly chunky aesthetic all of its own.
The Swedish brand is perhaps most famous for its commendable and frequently pioneering focus on safety. Collapsible steering columns, rear-facing child seats and crumple zones are among Volvo’s numerous innovations and the company continues to set safety benchmarks. However, when it comes to reliability, Volvo has a tendency to need frequent repairs.
Why do I need Volvo GAP insurance?
If you’re the proud owner of a Volvo, you probably don’t want to cut corners when it comes to protecting your investment. This is why GAP insurance makes sense as an additional level of protection.
It’s wise to consider the limits of your existing insurance policy in the event of a write-off, even if you’d rather not contemplate the worst-case scenario. Nearly half a million cars are written-off in the UK every year, so it really does make sense to protect yourself against the possibility.
Sadly, in the event of a write-off or theft many motorists find that their standard insurance pays out significantly less than the sum they need to replace their car. This is because most standard policies pay out the current value of a car, which is typically a long way short of the figure you’d need to buy a new like-for-like replacement.
Depreciation typically knocks about 60% off a car’s value over three years. So, were you to buy a new Volvo XC90 for £70,000, it may be worth £28,000 three years later. Consequently, your insurer may only offer a £28,000 payout in the event of a write-off, meaning you’d have to find another £42,000 to replace your car with the same model.
By investing in GAP insurance, Volvo owners can bridge this gap and ensure you are financially protected.
What do I get with MotorEasy?
This is where MotorEasy GAP Insurance comes into its own.
GAP Insurance covers the difference between the amount your standard insurance policy pays out and the amount you’d need to buy a new like-for-like replacement. It’s a great way to ensure you’re fully covered in the event of a write-off.
The case for GAP cover is even stronger if you’re paying for your car with a leasing arrangement or PCP financing, which could leave you exposed to considerable debt in the event of a write-off.
Available for all cars up to 8 years old (or with up to 80,000 miles on the clock), MotorEasy GAP Insurance re
Other benefits include:
- Up to £1000 in motor Insurance excesses covered.
- Optional extras and accessories covered (where factory or dealer fitted)
- European road trips for up to 30 days covered
- Savings on MotorEasy maintenance and repairs
- FREE MotorEasy account with access to all your car’s details, documents, important reminders and motoring offers
Car Theft
In the event of a write-off you may find your insurance payout is significantly short of the amount you need to purchase a like-for-like replacement, so it makes sense to top-up your cover and ensure you’re properly protected. But how likely is a write-off? Do you really need that extra level of protection?
Write-offs are more common than you may think. In fact, over 500,000 cars are written off every year. Typically, write-offs are the result of accidental damage but MotorEasy GAP insurance also covers you against car theft, which accounts for more and more write-offs every year.
112,174 motor vehicles were stolen in the UK in 2017/18, that’s the equivalent of 307 every day. Sadly, that figure also represents a significant increase on previous years and the continuation of a 50% jump in car theft over the last five years. Statistics show that car theft is on the up, so it makes sense to ensure you’re properly protected.
Getting your Volvo GAP Insurance quote
Getting your MotorEasy Volvo GAP Insurance quote is quick and easy. Our GAP Insurance page gives you all the information you need and a quick and east tool to get you GAP Insurance quote in a matter of seconds.
