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MG Gap Insurance Quotes from Total Loss Gap
If you are about to buy or have recently taken delivery of an MG, your local MG dealership will offer you several insurance policies.
So, after the initial cost of buying or leasing your MG, is it worth spending even more money protecting yourself with a range of policies? Is it worth the money? Why should you pick TLG to buy guaranteed asset protection from out of the many other gap insurance providers?
Have you ever wondered what MG Gap insurance from Total Loss is all about?
Why do you need MG Gap Insurance from Total Loss? A gap cover protects you if your new car is declared a write-off. Your motor insurance company could decide to write your MG off because the cost of repairing damage is too high or due to the effects of fire, flood, or theft.
The issue is that your motor insurer will only offer you the market value of your MG on the day it was written off. This means that as your MG gets older or you cover more miles, the amount they offer can and often is significantly less than what you paid for your MG or perhaps even the amount you have outstanding on your finance agreement.
No one ever wants to think of their new MG as losing value, but it will happen.
Without any form of gap insurance, you must cope with the potential financial fallout yourself. This means that an MG Gap Insurance policy from Total Loss is a financial shield against the effects of depreciation.
How does an MG Gap Insurance from Total Loss work?
Depending on the level of cover you are eligible for, MG Gap Insurance from Total Loss could protect your new car in the following ways;
How does an MG Contract Hire Gap Insurance from Total Loss work?
Your MG, Contract Hire gap, from TLG, will pay the difference between your motor insurance company's market value settlement and the outstanding balance on your lease (arrears and late payment charges are deducted). You can protect up to £3,000 on the initial rental that you paid.
How does an MG Return to Invoice Gap Insurance from Total Loss work?
Your MG, Combined Return to Invoice Gap Insurance, will cover the difference between your insurance company's market value settlement and the higher of either;
- The amount you still have outstanding on your personal contract purchase (PCP) agreement or your hire purchase agreement.
- The invoice price you paid as shown on the invoice for your MG.
This means you have the total purchase price between your insurance company's settlement and your gap insurance payout. You can clear any finances if necessary; the balance is yours to spend as you wish.
How does an MG Vehicle Replacement Gap Insurance from Total Loss work?
MG, Vehicle Replacement Gap insurance, will top up your motor insurance's Market Settlement, and the higher of either;
- Your outstanding finance balance.
- The original Invoice price you paid.
- The replacement cost of another vehicle, which is the same as yours was on the first day you drove it home. If MG no longer builds that model, the settlement will be based on the superseding model. Without a superseding model, the settlement would be based on the invoice price plus 10%.
Please see the policy documents for additional information on the MG Gap Insurance cover available from TLG
MG Contract Hire Gap Insurance from TLG
Total Loss IPID From June 2024 Total Loss Contract Hire From June 2024
MG Combined Return to Invoice Gap Insurance from TLG
Total Loss IPID From June 2024 Total Loss Return to Invoice From June 2024
MG Vehicle Replacement Gap Insurance from TLG
Total Loss IPID From June 2024 Total Loss VRI GAP From June 2024
Which MG Gap Insurance from Total Loss is best for you?
There is no set answer, as it will depend on what you want to happen when and if your car is written off. Did you source your MG using a form of finance agreement, such as a lease or contract hire? OK, contract hire gap insurance is the one for you.
Do you want to protect your MG's invoice price? If so, combined return to invoice gap insurance is your solution. This form of gap cover is available for new and used cars up to 8 years old with up to 80,000 miles on the clock.
Do you want the best of all worlds? Fine, vehicle replacement gap Insurance gives you the best financial outcome on the day, protecting not only the depreciation of your MG but also the appreciation of the replacement. It can cost more, but if you want a genuine belt-and-braces policy and you qualify, this is the most comprehensive cover we can offer. This policy is available for a new or used car up to 4 years of age with up to 40,000 miles on the clock on the day you buy your policy.
For your peace of mind, you will be pleased to know that any MG Gap insurance policy you buy from us will have the following standards:
- 30-day cooling off period.
- Claims procedures which are Trading standard approved.
- Be backed by the Financial Services Compensation Scheme.
- Will cover all named drivers on your full comprehensive insurance.*
- Have no claim limit for vehicles up to £75,000.
- Cover all Factory fitted options.
*Providing that they are over the age of 18 and have a full UK driving Licence.
The list of features goes on, but we hope you get the idea.
You will also be pleased to know that at TLG we are;
- Fully regulated by the Financial Conduct Authority (FCA).
- Members of the British Insurance Brokers Association (BIBA).
- Registered with the Information Commissioner Office (ICO).
- All reviews are independently verified as being from real people with real service and claims experiences.
The fascinating and diverse History of MG
MG is a British automotive marque owned by the Chinese automotive giant SAIC Motor Corporation. The brand's rich history dates back to the 1920s, when it was known for its sports cars. The initials "MG" are derived from Morris Garages, a dealer of Morris cars in Oxford, England, which began producing customised versions of Morris vehicles.
MG gained prominence in the 1930s with its sports cars, particularly the T-Series Midgets and the MG Magnette. These cars were known for their performance and distinctive styling, and they achieved success in various motorsport events.
In the post-war years, MG continued to produce iconic sports cars such as the MGA, MGB, and Midget, which gained a loyal following worldwide. The MGB became one of the best-selling sports cars in history and is a beloved classic among enthusiasts.
The brand has seen ownership changes over the years. In the early 2000s, production of MG cars moved to China under the ownership of SAIC Motor. Today, MG focuses on producing affordable and practical vehicles, including electric and hybrid models, while still honouring its legacy as a maker of spirited and engaging cars.
Overall, MG has left an indelible mark on automotive history. It is known for its sports cars that combine performance, style, and driving enjoyment.
Today, MG offers a full range of petrol and hybrid cars, including the MG4, MG3, MG5, MG HS, and the soon-to-be-launched MG Cyberster, which is a real hark back to the original MGF and MGBGTs of days gone by.
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Best Buy
Total Loss Gap is pleased to confirm that we have been recognised as the 'Best Buy' for GAP Insurance in the UK by motoring giant Auto Express.
Auto Express undertook an independent survey of various Gap Insurance providers in the UK. They took a standard quote from a franchised primary dealer for a £32,270 vehicle and obtained a quote for three year Gap cover for £449. 
This quote was then compared against many online providers for alternative quotations.
Auto Express highlighted the ease at which a quote can be obtained from the Total Loss Gap website.
It confirmed the premium found at Total Loss Gap was 59% cheaper than the motor dealer at £185.28
Total Loss Gap was the ONLY provider to be given a full 5 out of 5-star rating.
Total Loss Gap was also awarded the 'Best Buy' for Gap Insurance in the UK for 2021.
Auto Express also commented that Total Loss was the only provider they found to allow deferred start dates. This would allow a later start date if the motor insurers' replacement cover covered the car in year one.
In awarding the Best Buy to Total Loss Gap, Auto Express concluded that we were 'Clear, honest and good value.'
A spokesperson for Total Loss Gap said 'We are honoured to be the only Gap Insurance provider to get a 5 Star award and the only Gap provider to get the 'Best Buy' recommendation from such as name as Auto Express."
"At Total Loss Gap, we always strive to provide our customers with the best 'value' with the products we provide. Value can be found in the service we provide, the features you get, and the premium price you pay. It is great to see that an industry giant agrees with us too."
The Auto Express Gap Insurance review can be found in the current magazine and can be found on the Auto Express website also. (CLICK HERE to see)