Will the motor dealer you buy your vehicle from offer you VRI Gap Insurance? Well the answer is………maybe! In reality, your motor dealer is not an insurance broker or specialist. It is likely they will offer you a form of Gap Insurance, but it is much more likely to be the older, better known styles of Finance Gap or Return to Invoice.
Why NO VRI Gap Insurance?
There are several reasons why your motor dealer may not offer you VRI Gap Insurance. The provider they get their insurance products from, may not have it in their portfolio. VRI Gap Insurance is the newest form of Gap Insurance, so it is possible that the dealer may simply not have it available. It is true to say that some dealers do not even know what VRI Gap Insurance is.
However, in reality VRI Gap Insurance may be the most appropriate form of Gap Insurance you could be offered, especially if you are buying a brand new vehicle.
Remember if you are buying a brand new vehicle, you may have enjoyed a discounted deal. If you had to replace the vehicle in the future, then it is likely that the cost to do so would be higher than the original price you paid. This is where a simple Return to Invoice policy can leave you a little exposed. A VRI Gap Insurance policy however, can give you extra protection by covering the cost of the replacement vehicle, even if that is higher than you originally paid.
So will dealers offer VRI Gap Insurance?
You can find VRI Gap Insurance at some motor dealers now, but it is rare. However, as the public become more aware of the product than motor dealers will be forced to follow suit. Always remember, most major online Gap Insurance specialists will offer VRI Gap Insurance if your motor dealer does not.