Gap Insurance is a very useful partner to a new or new used car and it has been popular for a long time, providing value for those that have accidents and want to cover depreciation, so is it any different for Electric Cars and Gap Insurance? Put simply – no.
Buying a new car is an amazing feeling. Having the new cars smell, the mileage very, very low, the unused feel, heady stuff! Back to earth with a bump though as the first turn of the key and turn out of the dealership and your car will have depreciated. This is just life, as a car that’s been used and the more it is used, depreciates the value from the original purchase price.
March is one of the two peaks in the car buying year, the other being in September, due to the way new cars come to market and registrations hit the yearly updates. Both of these results in considerable vehicle insurance MTA’s (mid-term-adjustment) and renewals and one thing is for sure, the dealerships will be offering you the customer GAP insurance, and will be keen to get you to sign up.
Electric cars like Tesla and pretty much every other car manufacturer from Porsche to Volkswagen has an electric range now as the governments are busy outlawing petrol through environmental campaigns. Prices are coming down, chargers are popping up everywhere and the industry is gearing up for mass acceptance. So how does a traditional Gap Insurance fit into Electrical Car Gap Insurance?
The dealerships, electric or other, used to have the monopoly on GAP but since the market has opened up to brokers, many customers find independent offerings significantly cheaper without any loss in benefit.
And, because dealerships will make their customers aware of GAP insurance – don’t feel pressured to take out the first option, especially in today’s market where shopping around can save money through a little time and research. Best Price FS as you’ll know is
Best Price FS offers Electric Car GAP Insurance to cover personal and business owned vehicles, such as:
- Cars – max value £100,000,
- Motorbikes – max value £100,000,
- Small vans – max value £100,000,
- Motorhomes – max value £100,000,
There is even a GAP policy that covers cars of any age and mileage, so it isn’t restricted to new cars or low mileage second hand car purchases.
Click below to get a quote for your car, no matter if it’s electrical, petrol or diesel.