It appears to be a growing trend amongst online Gap Insurance brokers that Vehicle Replacement Insurance is now the most popular choice for Gap Insurance amongst consumers for new vehicle purchases.
Leading Gap Insurance broker, GapInsurance123 has said that its figures for March and April 2012 have shown VRI Gap Insurance to provide the highest number of sales amongst its customers.
Why Vehicle Replacement Insurance?
Savvy consumers who drive a hard bargain on their vehicle purchase, may well understand that the deal they managed to negotiate with the car dealer, may well not be repeated if they had to replace the vehicle in the future. Even a return to invoice type cover, coupled with a standard motor insurance policy, may well leave a vehicle owner several thousands of pound short of being able to replace the vehicle on a ‘like for like’ basis. A good VRI Gap Insurance policy can help protect this by covering to the replacement amount.
GapInsurance123 also stated that the average length of cover purchased has risen to 44 months. This figure was no doubt due to the fact that they are one of the very few insurance brokers who provide 5 year Vehicle Replacement Insurance, as well as Return to Invoice and Finance and Contract Hire Gap.
Motor dealers are slowing coming around to the fact that Vehicle Replacement Insurance is popular with car buyers. The more traditional choices of Finance Gap or Return to Invoice may not offer such an attractive protection as VRI Gap Insurance does.
Not just Vehicle Replacement Insurance!
The rumblings of discontent over the ever-increasing fuel prices do not appear to go away. With diesel fast approaching £7 per gallon, you would wonder just how far the UK public will be stretched in these tough economic times.
We all need our vehicles, but the choice of leaving your car at home is becoming ever more appealing for some!
Shame Vehicle Replacement Insurance cannot cover the cost of fuel!