Protection to Consider When Buying A Car

Posted by at 23 August 2019, at 15 : 40 PM

Protection to Consider When Buying A Car

Buying a car can be a stressful experience for many, not knowing which products to buy and even if you need all these policies. MotorEasy are a company that have the aim of ‘everything car done for you’, which is designed to make your life as a motorist hassle free.

Whether you’ve got a brand spanking new car or a used vehicle, there is always a protection suitable for your motor to protect against unwanted damage.

New Cars

If you’re buying a new car, GAP insurance is the recommended product for you. But what is it? GAP Insurance covers the difference between how much you originally paid for your car and the amount your insurance company will pay you in the event of a write off or theft.

As soon as you drive your brand-new car off the dealer’s forecourt, the value will rapidly depreciate. Should you suffer a write off or theft, your insurance company will only pay out the current value of your vehicle which usually is considerably less than the original price. Don’t panic, a GAP insurance policy tops up an insurer’s pay-out in the event of a write off, providing you with the extra funds to find a replacement or pay off remaining finance. MotorEasy offer GAP insurance for your car and for 75% less than dealer prices.

There are three GAP policies available depending on the age of your car, and for new cars the recommended policy is Vehicle Replacement Insurance (VRI). If you car is written off or stolen then you will be covered for the difference between your insurer’s payout and the balance needed to buy a replacement of a similar vehicle.

GAP isn’t the only thing new car buyers should consider. Keeping your car looking shiny and fresh can be a difficult task with daily unavoidable damages. Kerbing your alloys, bursting a tyre or scratching your lovely new paintwork can all be a financial pain when you don’t have the right protection. Dealerships will often offer insurance policies for all these problems, but if you decide to buy directly from the salesperson, you could be paying hefty margins. Consider purchasing Alloy, Tyre and Cosmetic Insurance to keep that new car finish for longer.

New-ish Cars

Based on a car purchased within the last 3 months, the recommended GAP insurance policy is Return to Invoice (RTI). This policy covers the difference between your insurer’s payout and either the price you originally paid or the amount needed to settle your outstanding finance balance, whichever is the greater.

Tyre, Alloy and Cosmetic insurance are policies that new-ish car owners should consider. There’s no need to compromise if your car is a little older as they can still be kept protected from bumps, scratches and flat tyres.

Used Cars

A used car can often encounter more faults than a brand-new motor, so it’s important to ensure you have the correct protection when these hiccups happen. A car warranty protects you against repair costs for both parts and labour after a mechanical or electrical failure in your vehicle. Every new car comes with a warranty, but once this has expired online providers such as MotorEasy offer manufacturer levels of cover without the price tag. They’ll also be able to cover a lot more than you’ll typically get with a dealer provided extended warranty.

Believe it or not, there is a GAP policy available for used cars too. Return to Value (RTV) can be offered to cars that are over 3 months old. This policy covers the difference between your insurer’s payout (based on current value) and the original value (based on GAP insurance date).

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