What Is Van Gap Insurance?

ByJackie Verdier

What is Van Gap Insurance and why should you consider it?

Vans as a whole are normally bought for commercial reasons. They are normally for transportation of staff and equipment from place to place and can vary in size and weight as much as models and trim levels. The one common attribute is however that they are very expensive.

Even if you are VAT registered and your accountant has claimed the VAT element of the purchase price back. Buying a van will still mean a large financial commitment. In recent years this has meant a huge growth in financial packages and lease schemes all designed to enable business's big and small to properly support their fleet.

As we know both cars and commercial vehicles are in depreciating assets. This means that over time the van will lose value. In fact the average vehicle can lose up to 50% of its original purchase price in just three years alone based on average mileage and average usage. The rates of depreciation can however be compounded by higher mileage and the type of business activities you use your van for.

For example a florist van will on average be in better condition and therefore worth more than say a builders merchants van which used to carry raw materials and has a higher mileage.

So what happens if your van joins the estimated 600,00 other vehicles written off in the UK each year. Remember that your own insurance company will only pay you the market value of your van on the day of loss. This difference is between valuation and original purchase price or financial liability is often thousands and thousands of pounds.

Gap Insurance can offer extra protection as it is a supplementary insurance that runs along your own insurance road risk policy and protects you against financial loss when your van is written off.

This extra protection can make all the difference as naturally as a business vehicle the longer that you are off the road the more that it will impact on the day-to-day running of your business. Increased and unplanned financial liabilities can drain even the most successful business.

After all no-one ever schedules in their dairy for a vehicle to be in an accident. No-one in their right mind would plan for the van to be stolen but it happens day in and day out the length and breadth of the UK.

Jackie Verdier Sales Director at Aequitas Automotive Limited

As our name Aequitas ( the God of Far Trade) suggests our aim is simply to be fair and honest in all we do. No gimmicks, no fuss just fantastic service and real market leading prices via our two brands https://easygap.co.uk/ - https://gapinsurance123.co.uk/.

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Insurance: Car-Auto
Jackie Verdier

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MLA Style Citation:
Verdier, Jackie".".2 Mar. 2012EzineArticles.com.8 Mar. 2012 .APA Style Citation:
Verdier, J. (2012, March 2). . Retrieved March 8, 2012, from http://ezinearticles.com/?What-­Is-­Van-­Gap-­Insurance?&id=6916455Chicago Style Citation:
Verdier, Jackie "." EzineArticles.com. http://ezinearticles.com/?What-­Is-­Van-­Gap-­Insurance?&id=6916455EzineArticles.com© 2012 EzineArticles.com
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