Your Renault is your prized possession and it is crucial for you to protect it. Your car might get stolen or it may be involved in an accident. Many people hold on to the misconception that their cars will not be involved in any accident or theft right after purchase. Unfortunately, for some people, their car does get stolen or damaged in an accident right after purchase. Now if you have taken your car on a loan, creditors do not care about the damage or the theft. You are still responsible for paying back the car loan for your Renault that you have taken to them. This is where Gap Insurance in the UK steps in to help you!
What is Gap Insurance?
Many car owners are not aware of the fact that the moment you drive it out of the dealership premises, your car starts to depreciate. The same holds true for Renault as well. Dealers generally play down this fact when they are signing contracts and this is why most people are not aware of this truth. If you are not informed about Gap insurance in time, it might cost you thousands of pounds!
Gap Insurance Explained
Gap insurance implies financial protection for your Renault from depreciation. Like all cars, your prized Renault will also lose about 50% of the price that you originally paid for the model in three years. In case you do not take gap insurance, your car can be declared as a complete loss as your motor insurer will not pay you anything on the day the vehicle is written off. This means you have to bear a thousand of pounds as out-of-pocket costs. This is why you should take Gap Insurance, as this will help you and your car.
Be informed and find the Right Gap Insurance for your Renault
The following are some tips for you to find the right gap insurance quote for your Renault-
- It is important for you to know the cost of Gap Assurance in the UK. For this you should spend some time in research. Do not buy your Gap Insurance from a car dealer- it is not a good idea!
- Check for collision and comprehensive insurance cover when you are shopping for gap insurance for your Renault.
- You should keep the insurance coverage for as long as it is needed. The time generally is 3 years with a small down payment.
- It is important for you to know what is covered and what is not. The coverage for your Renault often varies from insurer to insurer and so it is prudent to shop compare quotes.
- Your gap insurance on your Renault cannot be transferred to another car- this is an important point that you should keep in mind when you are shopping for Gap insurance.
Therefore, when you are shopping for Gap Insurance for your Renault, it is important for you to keep the above points in mind. They will help you get the perfect insurance quotes for your car!