Renault Gap Insurance
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Established in 1899, Renault is one of the world’s premier car manufacturers. Based near Paris, the brand is known for a pioneering approach, something that has come to the fore in recent years with its focus on developing electric vehicles.
Renault is a frontrunner in this market, having sold hundreds of thousands of e-vehicles worldwide. Popular models include the zippy Clio V, a classic MPV in the Scenic and the much-praised Zoe, a five-door electric supermini.
With so many superb Renault models available, it’s only natural that you’d want to protect your vehicle as much as possible. Unfortunately, depreciation means owners can be left out of pocket in the event of their pride and joy being written off or stolen. Thankfully, there is a solution – Renault Guaranteed Asset Protection (GAP) insurance.
Why choose Direct Gap to protect your Renault?
What is Renault Gap Insurance?
Renault gap insurance is designed to protect your investment and cover any shortfall between what insurers will pay out in the event of fire, flood, accidental damage or theft, and what you originally paid for the car. This form of cover can prove invaluable if you have a lease or finance agreement. Should the worst happen and your car is declared a total loss, the insurance settlement may not be enough to cover the outstanding amount. That will mean you’re forced to pay money for a car that you can no longer use. With Renault gap insurance from Direct Gap, you’re fully protected against that risk.
For further information, check out our detailed guide to gap insurance.
Get a Renault Gap Insurance quote today.
How does Renault Gap Insurance work?
If you buy a Renault for £40,000, it will depreciate over the time that you own it. Let’s say that a few years later, your car is stolen or written off – but by this point, its value has dropped to £25,000.
Your motor insurer will pay out in line with that value, which means you’ve lost out by £15,000. With Renault gap insurance, you are covered for that difference between its purchase price and its value when it was declared a total loss.
Get a Renault Gap Insurance quote today.
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Additional cover for your Renault
It’s not only Renault Gap Insurance that we offer. We can also provide protection for specific elements of your pride and joy, such as the bodywork, tyres and wheels.
Renault Gap Insurance Calculator
Only £ would be covered by your comprehensive car insurance leaving a gap of £.
Renault: FAQs, Statistics & General Information
Renault Depreciation
Like most car brands on the market, Renaults will lose value over time, typically depreciating between 15-35% in year one, to 50% within three years of ownership (usually, regardless of whether you buy new or used).
Try our free Car Depreciation Calculator for more information on model-specific depreciation and to estimate the value your Renault could lose.
Gap Insurance Payout Examples
BMW 320 D
Our BMW gap insurance policy paid out £4,558 to a customer who initially bought their BMW 320D for £20,000. Following a total loss, their motor insurer offered a settlement figure of just £15,442; we covered the difference.
Ford Kuga
Our Ford gap insurance policy paid out £14,565 to a customer who initially bought their Ford Kuga for £36,168. Following a total loss, their motor insurer offered a settlement figure of just £22,053; we covered the difference.
Dacia Sandero Stepaway
Our customer wrote their Dacia Sandero Stepaway off and received a final settlement from their insurer of £15,390. This was much lower than their original purchase price of £18,644, following a 17% depreciation.
We paid the difference of £3,565 thanks to their Gap Insurance policy.
Audi Q2
Our customer bought their Audi Q2 for £30,245, which depreciated at a rate of 13%. When it was written off, their motor insurer paid a final settlement of £26,297.
With an Audi Gap Insurance policy, we covered the difference of £3,823.
What Types Of Gap Insurance Are Suitable For Renault
There are three common types of GAP Insurance available for most cars, including Renault. Which is most suitable typically depends on your finance type, car ownership status and individual cover needs.
The main types of Renault Gap Insurance we provide are:
- Lease & Contract Hire Gap Insurance: Lease & Contract Hire Gap Insurance pays the difference between your motor insurance settlement figure and the amount outstanding on your lease finance balance. This policy is suitable for lease or 'PCH' cars only.
- Return To Invoice Gap Insurance: Return To Invoice, or 'RTI' as it's also known, pays the difference between your motor insurance settlement figure and the original invoice price of your vehicle.
- Vehicle Replacement: Vehicle Replacement Insurance, or 'VRI' covers the difference between your motor insurance settlement and the cost of replacing your vehicle.