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| Did
you know that if your new vehicle was written off as the result of an
accident, fire or theft, your Motor Insurance company would only pay the
current market value of the vehicle, and not what you actually paid for
it?
For example, if a vehicle costing £10,000 was written off after 12 months, the Motor Insurance company would pay out the current market value, which might only be £8,000. If you wanted to then replace your vehicle, you would have to find the difference. Or, if you had taken out finance to spread the cost of paying for your vehicle, then you could find that the amount received from your Motor Insurance company was less than the amount you still owed on your credit agreement. In either event, you could be out of pocket - this is where GAP (Guaranteed Asset Protection) cover can help you. Click on the button opposite for further details. |
