Which MotorBike Gap Insurance is Best?

Which Motorbike Gap Insurance Is Best For you?

Lets take a closer look at the types of Motorbike Gap Insurance policies available to you in the UK today. Remember, choosing the right level of Motorbike Gap Insurance depends on exactly what you are looking to cover. All vehicles will lose value,
and all vehicles are open to being stolen or in an accident. That gives a clear case for Gap Insurance, and with motorbikes the chances can be higher of your motorbike being written off

Types of Motorbike Gap Insurance

Finance Gap Insurance. This type of motorbike gap insurance is only applicable if you have a finance agreement on the vehicle.

Finance Motorbike Gap Insurance will pay the difference between the Motorbike market value, and the amount you owe on the loan. Therefore you can pay off the loan without having to use your own savings. The types of loans agreements this could be used for would be lease, hire purchase, PCP or even contract hire.

Which Motorbike Gap Insurance ticks the boxes for you?

Return to Invoice, or RTI Gap Insurance will pay the difference between your motorbikes market value and the original invoice price you paid. This form of Motorbike Gap Insurance is the most often provided by delears and the majority of online Gap Insurance brokers. This form of Motorbike Gap Insurance may suit cash purchases, or even finance purchases, wher the finance settlement must be paid out of the settlement given.

Vehicle Replacement Insurance, or VRI Gap Insurance is an extremely rare form of Gap Insurance available for motorbikes. This will protect between the motorbike market value, and the cost of replacing the bike with a model equivalent to the one you bought the policy for. So if you buy a brnad new Fireblade in 2011, and the brand new equivalent model in 2013 is £2,000 more, then Motorbike VRI Gap Insurance can cover this. Very few online brokers would do this level of cover, one to try would be EasyGap.co.uk.

Which type of Motorbike Gap Insurance should you buy?

Well that is always your decision. Really all you have to decide is do you want to cover the finance agreement, the original invoice price, or what it would cost to replace your motorbike on a ‘like for like’ basis? Once that decision is made, the choice of which Motorbike Gap Insurance gets a lot more simple!


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