Toyota is the planet’s biggest automotive manufacturer (and sixth biggest company full stop) for a reason, it produces extremely well thought out cars that people want to own.
Over the years Toyota has come to specialise in dependable, economically competitive family cars like the enormously popular Corolla, which has now spanned six decades and 12 generations. The Corolla’s status as the world’s best-selling car (over 50 million sales and counting) tells you all you need to know about Toyota’s incredible popularity.
Toyota also deserves credit for its pioneering commitment to environmentally friendly hybrid technology. Indeed, it stole a march on the rest of the motor industry with the release of the much-trumpeted Prius in the early 2000s.
The Prius and Corolla remain key models in the current Toyota range, alongside other longstanding favourites like the nippy Aygo, the evergreen Yaris supermini and the RAV4 SUV.
Why do I need Toyota GAP insurance?
It’s easy to settle for a standard Toyota Insurance policy without considering the financial consequences of a total write off or theft.
Of course, no one wants to imagine the worst-case scenario, but it really does pay to protect your car and your financial investment against such circumstances. Afterall, nearly half a million cars are written off in the UK every year. It makes sense to ensure that you’re fully protected.
Many motorists find that their insurance payout leaves something to be desired in the event of a write off, leaving them a long way short of the sum needed to purchase a like-for-like replacement. The reason for this shortfall comes down to one important factor: depreciation.
Your car’s market value will typically begin to depreciate the moment you drive it out of the dealership forecourt and it will most likely continue to depreciate at an alarming rate thereafter. In fact, three years after you purchase a new car its value is likely to have depreciated by 60%. So, if you bought a Toyota Prius for £25,000, three years later it’s value may have shrunk to £10,000.
What does this mean for your insurance? Most standard insurance policies pay out the current market value of your car rather than the price you paid when you purchased it new. If you made a claim three years after you bought your £25,000 Prius you may be looking at a payout of just £10,000, meaning you’d have to find an extra £15,000 to purchase a new like-for-like replacement.
What do I get with MotorEasy?
GAP Insurance removes the risk of having to find a large sum of money just to replace your car, bridging the difference between the original cost of your vehicle and a disappointing payout based on its heavily depreciated market value.
Consider that a car’s market value begins to depreciate the moment you drive it off the dealership forecourt and it makes sense to safeguard the original value of your investment with a MotorEasy GAP insurance policy.
GAP Insurance makes extra sense 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 offers a smart, easy and affordable way to remove the risks associated with standard insurance policies and enjoy your Toyota, safe in the knowledge that it’s comprehensively protected.
MotorEasy GAP insurance is designed to bridge the gap between your insurance payout and the sum you need to replace your car in the event of a write-off. But what is a write-off and is it really something you need to worry about?
Write-offs are, unfortunately, more common than many motorists imagine. Indeed, over 500,000 cars are written off every year. Typically, you might think of a write-off as an irreparably damaged vehicle, but theft also accounts for a large number of write-offs every year. In fact, statistics show that the threat of car theft is increasing. 112,174 motor vehicles were stolen in the UK in 2017/18, which is 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 Toyota GAP Insurance quote
Getting your MotorEasy Toyota GAP Insurance quote is quick and easy. Visiting our GAP Insurance page will give you all the information you need to help you obtain a quote that suits your needs.