Skoda Gap Insurance
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Skoda is a giant of the automobile industry. Founded in a small town near Prague in 1895, it has gone on to become the largest car manufacturer in the Czech Republic, and the country's most successful company of all time. Skodas are sold in over 100 countries and have built a solid reputation with their trademark mixture of safety and reliability.
Even with a car as dependable as a Skoda, accidents can happen. Many drivers believe that their insurance will cover them fully, but most insurers will only reimburse you for the value of your car at the time of a claim. Cars depreciate quickly, so you may only receive a fraction of what you originally paid.
The solution to this is Skoda GAP insurance. GAP (Guaranteed Asset Protection) insurance is an additional form of car insurance that covers you for the difference between your car's purchase price and its current market value. This means that you can claim back every penny in the event of an accident. We are the UK's number one provider of GAP insurance, with a dedicated team on hand to find you the best possible deal.
Why choose Direct Gap to protect your Skoda?
What is Skoda Gap Insurance?
Skoda gap insurance is designed to bridge the difference between what you originally paid for your car and what insurers will pay out in the event of it being declared a total loss. And if you have a finance or lease agreement, it covers circumstances where the settlement is not enough to cover the outstanding amount, which means you won’t be forced to pay money for a car that is no longer drivable. Skoda gap insurance offers peace of mind that whatever happens, you will not be left out of pocket.
For further information, check out our detailed guide to gap insurance.
Get a Skoda Gap Insurance quote today.
How does Skoda Gap Insurance work?
If you buy a Skoda 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 Skoda gap insurance, you are covered for that difference between its purchase price and its value when it was declared a total loss.
Get a Skoda Gap Insurance quote today.
Skoda Gap Insurance Reviews
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Additional cover for your Skoda
It’s not only Skoda 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.
Skoda Gap Insurance Calculator
Only £ would be covered by your comprehensive car insurance leaving a gap of £.
Skoda: FAQs, Statistics & General Information
Skoda Depreciation
Like most car brands on the market, Skodas 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 Skoda 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 Skoda
There are three common types of GAP Insurance available for most cars, including Skoda. Which is most suitable typically depends on your finance type, car ownership status and individual cover needs.
The main types of Skoda 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.