Jeep at VRI Gap Insurance
We at VRI Gap Insurance are big admirers of the Jeep brand and name and believe that the brand has unfinished business within the UK Car Market. However, we believe that the majority of Jeep owners within the UK will be driving on the roads of the UK with absolutely no form of Gap Insurance protection.
Gap Insurance as you may know is a form of protection that will look to protect you from the financial implications the occur due to market value depreciation in the event of the Jeep being written off or stolen.
Why do you need Gap Insurance for you and your Jeep?
Well, if you were involved in an accident and the Jeep is written off, you would only ever receive the market value of the Jeep on that day rather than any invoice price or possible cost to replace the model. You may be aware of a recent depreciation calculator which estimates the rate of depreciation on your Jeep.
According to this calculator and figures, the average vehicle will lose up to half of its original value within the first three years of ownership. This means that if you plan on or already have purchased a new Jeep model for a tidy price of £20,000, three years later, write the vehicle off and receive a settlement figure for somewhere in the region of £10,000.
This is where Gap Insurance can help you and your new model. There are three forms of Gap Insurance available for you to choose from and Vehicle Replacement Gap Insurance or VRI Gap is said to be the highest form of Gap for you and your Jeep to choose from.
Vehicle Replacement Gap Insurance will provide the metaphorical bridge that is the financial Gap between the average cost to replace the model and the market value of your Jeep on the day it was written off. This will give you the average cost to replace the vehicle with the same make, model and mileage as yours was on the day of purchase. So, why take the risk when you can protect yourself with a VRI policy online for your Jeep.