Jaguar GAP Insurance
Synonymous with a particularly British brand of sleekly sophisticated automotive design, Jaguar may no longer be in UK hands – it was bought by the Indian company Tata in 2008 – but it retains an HQ in Coventry and remains one of the nation’s flagship motoring brands.
While Jaguar is always careful to preserve a strong sense of the brand’s rich motoring heritage, recent years have witnessed a marked attempt to develop cars that can compete with the refinement, sophistication and build-quality of Germany’s market leading premium car brands, Mercedes, BMW and Audi. While some work remains to be done if Jaguar is to succeed in that task, recent models certainly showcase a newfound impression of robustness and refinement, without sacrificing the racy performance and handling you’d hope for in a Jag.
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Why do I need Jaguar GAP insurance?
If you treasure your Jaguar it stands to reason that you want to protect it, which is where car insurance comes in. We purchase car insurance to protect ourselves against all manner of motoring misfortunes – from mechanical failure to theft. But what happens if your Jaguar is completely written off?
Almost half a million cars are written off in the UK every year, but many motorists aren’t insured to cover the costs of a like-for-like replacement in such circumstances. The problem? Depreciation.
A car typically loses about 60% of its value over the three years after its original purchase. So, if your insurance policy only pays out the current value of your car, as most do, you’ll be some way short of the figure needed to replace your car with the same model.
Let’s imagine the car in question is an Jaguar XF that cost you £40,000. In the event that your Jaguar is written-off or stolen three years later you might be looking at a payout of just £14,000, assuming the value of the car has depreciated 60% in three years. Sadly, the prospect of simply buying a new replacement with your insurance payout is a non-starter.
MotorEasy GAP Insurance offers an ingenious way to cover the disparity between your payout and the cost of a new like-for-like replacement car, allowing you to claim back the original cost of your vehicle rather than its heavily depreciated market value.
What do I get with MotorEasy?
When you consider that a new Jaguar’s value typically begins to drop the moment you drive it off the dealership forecourt it’s easy to see why MotorEasy GAP insurance makes sense to so many motorists – it offers the complete peace of mind you simply don’t get from a standard motor insurance policy.
Sometimes it pays to consider the worst-case scenario, even if you probably don’t want to. Almost half a million cars are written off in the UK every year, so it makes sense to take extra measures to limit your risk.
The case for GAP cover is even more compelling if you’re paying for your car with a leasing arrangement or PCP financing, which could leave you exposed to considerable debt in the event of a write-off.
Available for all cars up to 8 years old (or with up to 80,000 miles on the clock), MotorEasy GAP Insurance represents a smart, easy and affordable way to remove these risks and enjoy your Jaguar.
GAP insurance is designed to bridge the gap between the amount your insurer pays out and the sum you need to replace your car in the event of a write-off. But what constitutes a write-off and is it really worth protecting yourself against it?
Sadly, write-offs are more common than you may think - over half a million cars are written off every year. Typically, write-offs are caused by accidental damage but MotorEasy GAP insurance also covers you against car theft, which accounts for a large number of write-offs every year. In fact, statistics show that car theft is on the rise.
112,174 motor vehicles were stolen in the UK in 2017/18, that’s the equivalent of 307 every day. Sadly, that figure also represents a significant increase on previous years and the continuation of a 50% jump in car theft over the last five years. Car theft is on the rise and it makes sense to ensure you’re properly protected.
Getting your Jaguar GAP Insurance quote
Getting your MotorEasy Jaguar GAP Insurance quote is quick and easy. Our GAP Insurance page gives you all the information you need and access to a quick and easy tool that will supply you with a GAP Insurance quote in a matter of seconds.