GAP Insurance Options for Peugeot Owners with GAPInsurance123

 

Peugeot, a name that resonates with automotive excellence and French craftsmanship, has been a prominent figure on UK roads for many decades. From the nimble and economical hatchbacks to the rugged and spacious SUVs, Peugeot has consistently catered to a myriad of drivers, each with their unique preferences.

 

However, like any vehicle, a Peugeot can suffer from the unexpected. An accident, flood, fire or theft could see a motor insurer declare your vehicle a total loss. If the Peugeot is written off or stolen, then your motor insurance is only likely to provide a market value settlement to you. This is where GAP Insurance cover can ensure that Peugeot owners are not left in a financial pickle.

 

Here we explain your options and alternatives to Peugeot GAP Insurance if you are buying or leasing a car.

 

 

Peugeot's Illustrious History

 

The tale of Peugeot began in 1810, not as a car manufacturer, but as a humble family business crafting kitchen equipment and, later, bicycles. It was only in 1889 that the company took its first steps into the world of automobiles, and there was no looking back.   

 

The iconic lion trademark, emblematic of strength and quality, was introduced in 1858, becoming a symbol of the brand's commitment to excellence. 

 

Through the years, Peugeot has gone through a number of mergers and collaborations. The most notable of these was probably the merger with Citroen to become the PSA Group in 1991. PSA later became Stellantis which is now the third-largest car manufacturer in the world.

 

Possibly the most famous Peugeot car of all time was the 205. Best known for its 'hot hatch' version, the GTI, the 205 was one of the most iconic cars of the late 1980s and 1990s.

 

Current Peugeot model line-up

 

Today, Peugeot's range of vehicles is a testament to its rich history combined with modern-day innovations. Here's a glimpse into some of their standout models:

1. Peugeot 2008 SUV: A blend of robustness and sophistication, the 2008 SUV is perfect for urban explorers. Its advanced technology ensures a seamless driving experience.

2. Peugeot 108: Compact yet chic, the 108 is the go-to for city dwellers. Its nimble nature makes it perfect for navigating through bustling streets.

3. Peugeot 3008 SUV: A family favourite, the 3008 offers space without compromising on style. Its intuitive technology ensures safety and entertainment for all passengers.

4. Peugeot 508: A saloon that exudes elegance, the 508 is for those who appreciate luxury. Its sleek design is complemented by top-notch performance metrics.

5. Peugeot Rifter: Versatile and functional, the Rifter is for those who seek adventures. Whether it's a city drive or a countryside escapade, the Rifter is up for the challenge.

6. Peugeot e-208: Embracing the future, the e-208 is Peugeot's venture into electric vehicles. It promises an eco-friendly drive without compromising on the brand's signature style and performance.

 

Why choose GAP Insurance for your Peugeot?

 

The bottom line is all cars lose value over time. Peugeots, as great as they may be, are no different. Depreciation is just a part of owning a car. 

 

The idea of protecting your investment with the benefits of GAP Insurance can be sensible. If you are looking for GAP Insurance for Peugeot cars, then there are normally two broad options you can look at.

1. Buy Peugeot GAP Insurance through the motor dealer. Buying the officially endorsed Peugeot GAP Insurance from the motor dealer can be convenient.

2. You can look to get an alternative to your Peugeot GAP Insurance quote from an online specialist like GAPInsurance123.

 

If you compare both options, you will probably see that the Peugeot GAP Insurance cost is far higher than the GAP Insurance quote you will get with an independent provider for your Peugeot.

 

You may also see that whilst the dealer will only offer you a Peugeot GAP Insurance quote for one type of GAP Insurance cover, independent specialists may offer a number of options for you.

 

Buying GAP Insurance from an independent broker, like GAPInsurance123, could save you money and give you more choices for total loss cover.

 

GAPInsurance123's GAP Insurance solutions for Peugeot Owners

 

1. Combined Return to Invoice GAP Insurance: Whether you've opted for a brand-new Peugeot or a pre-loved model, this policy ensures that in the event of a costly insurance write-off, you are covered between your motor insurance settlement and the original invoice price you paid. If the outstanding finance settlement is higher, then the finance shortfall is paid instead.

 

2. 3-in-1 Combined Vehicle Replacement GAP Insurance: Designed to cover between the motor insurers settlement if the vehicle is stolen or written off and the higher of the cost of an equivalent replacement vehicle, the price you originally paid for the vehicle or the outstanding settlement on a finance agreement. This is a particularly popular choice for a brand-new vehicle purchase.

 

3. Lease and Contract Hire GAP: Leasing a Peugeot on a contract hire agreement? This policy has got you covered. It ensures that in case of a write-off, the difference between the insurance payout and the outstanding lease settlement is at that time. There is also the option to protect your advanced rental payment so you can claim this back to use as a deposit on your replacement vehicle.

 

4. Agreed Value GAP: Perfect for privately purchased used Peugeots, this policy pays the difference between the insurance settlement and the vehicle's Glass’s Guide retail value at the time of policy purchase.

 

Additional policy benefits with GAPInsurance123 include

• Up to £250 excess contribution towards your motor insurance excess deduction at the time you claim.

• All Factory Options covered.

• Up to £1500 additional dealer accessories at the time of vehicle purchase can be covered.

• Options to transfer cover to a replacement vehicle

• Cash settlements on all policies, bar lease GAP

 

 

FAQs

1. Why buy GAP Insurance for my Peugeot?

Standard comprehensive motor insurance might not cover the full value of your Peugeot, especially if it's written off. Whilst some new vehicles do have 'new for old' replacement covers when they are less than a year old, in many circumstances, you will only receive a market value settlement if the car is written off or stolen.

What is a 'market value' settlement? This is what it would cost you to replace the vehicle at the time with the equivalent replacement vehicle. That is the same age, mileage, condition, etc as your vehicle was at the time of the total loss.

The market value is less than the price you originally paid because of the depreciation in value of the Peugeot over time.

A market value settlement may not be enough to cover any outstanding finance balance on the Peugeot. You also have to replace the car. This is where GAP Insurance steps in to top up the market value settlement to provide you with extra funds to use as you need.

GAP Insurance ensures that the difference between the market value and the original purchase price or the amount owed on finance is covered, offering financial protection.

 

2. When does the Vehicle Replacement GAP Insurance benefit me more than Return to Invoice GAP Insurance for my Peugeot?

Vehicle Replacement GAP and Return to Invoice GAP can appear very similar. Return to Invoice GAP cover is normally the only type of GAP Insurance offered by the Peugeot dealer on a vehicle purchase. It is designed to cover you between the motor insurers' settlement and the original invoice price you paid for the vehicle.

Vehicle Replacement GAP from GAPInsurance123 also provides you with the cover back to the original invoice price paid as a minimum. However, it also takes into account the cost of an equivalent replacement vehicle. This time, the equivalent replacement vehicle is determined as the same age, mileage and condition as yours was on the day you bought it.

So, if you bought a brand new Peugeot originally, then it is the replacement cost of the equivalent brand new Peugeot now.

If the cost of the replacement Peugeot has risen, then this is the figure that you can be covered to.

So where a Vehicle Replacement GAP can be better than a Return to Invoice GAP is where the replacement cost is higher than the original invoice price you first paid for the Peugeot.

 

3. I've opted for a pre-owned Peugeot. Which GAP Insurance policy is suitable for me?   

Yes, certainly. If you buy a used Peugeot from a franchised dealer or used car specialist, then a Return to Invoice GAP should be the perfect choice.

If you buy the used Peugeot from an auction or a private seller, then an Agreed Value GAP policy is ideal.

It is unlikely that a leased Peugeot would be a used car. However, some leasing companies may buy pre-registered vehicles for this purpose. If that were the case, then a Contract Hire GAP Insurance would be fine to cover a contract hire agreement.

 

4. How does GAP Insurance work if I've leased my Peugeot?

If you've leased your Peugeot, the Lease and Contract Hire GAP policy is tailored for you. It covers the difference between the insurance payout and the outstanding lease amount, ensuring you're not burdened with additional costs, and left out of pocket.

Another of the key benefits available with GAPInsurance123 is that we can provide the additional 'Deposit Protection' cover. This allows you to claim back your initial advanced rental amount (the first rental on the finance contract, normally a multiple of months), and you can use this as a deposit on your replacement vehicle.

 

5. With the evolving automotive landscape, how does GAP Insurance cater to electric Peugeots?

GAP Insurance is versatile and caters to all models, including electric ones like the e-208. Whether a traditional petrol engine or an eco-friendly electric variant, the GAP cover ensures comprehensive coverage for your Peugeot purchase.

 

 

Please note: GAP Insurance products from GAPInsurance123 are not officially endorsed by Peugeot and are unavailable from Peugeot showrooms. Any GAPInsurance123 branded product can only be purchased from the official GAPInsurance123.co.uk website.

 

Published 18/8/23, written by Mark Griffiths