Vehicle Replacement Insurance and how can it help you?

Has your motor dealer spoken to your about a Vehicle Replacement Insurance policy for your Mini? If so then you may be looking for an alternative quote, and EasyGap are all too happy to look at a Vehicle Replacement Insurance policy for your Mini.

What is Vehicle Replacement Insurance, or VRI Gap Insurance as it is sometimes known?

Well this level of Guaranteed Asset Protection has been developed because of one reason only. If your vehicle is written off, the replacement model, equivalent to the one you originally bought is likely to be more expensive in the future than it is today.

This is common sense really, most vehicle prices go up over time, and Mini are no different. Also, any discount you negotiated on your Mini purchase may well not be available if you have to replace it.

Vehicle Replacement Insurance for Mini

So as you can see, a Vehicle Replacement Insurance policy for your Mini can cover the difference between the vehicle value and the cost of the equivalent replacement model.

So if you buy a brand new Mini Cooper for £20,000 in 2012, and the equivalent brand new Mini Cooper is £23,000 in 2016, then it is this higher amount you can be returned to.

One important aspect of choosing any VRI Gap Insurance policy for your Mini is selecting an appropriate ‘claim limit’ on the policy. Lets explain what we mean.

Lets use the figures from the example above. The Mini was first bought for £20,000, and the replacement model was £23,000 four years later. Lets say that your original Mini, now 4 years old, had a value of £8,000.

With A VRI Gap Insurance policy from EasyGap, you would require a ‘claim limit’ to cover the difference between the £23,000 you now need to replace the vehicle, and the £8,000 the original Mini is worth now. This means a claim limit of £15,000 would be required to adequately cover you.

Why Vehicle Replacement Insurance for your Mini from EasyGap?

First and foremost, when you are looking to protect your Mini with any Gap Insurance policy, the most important factor for any policy is the underwriting insurer, in our opinion. In the case of the EasyGap brand, the underwriter is currently UK General on behalf of Ageas. Secondly, EasyGap has a reputation for giving its customers the best online premium prices in the UK.

Finally, in keeping with our name, we try to make the whole process of buying your Vehicle Replacement Insurance for your Mini as ‘easy’ as possible. Our online question system will help eliminate unsuitable levels of cover for your circumstances. Also, if your VRI Gap Insurance policy is over £100 in value, then you can opt to pay for the premium over interest free instalments.

Vehicle Replacement Insurance for your Mini the ‘Easy’ way!

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