Toyota Gap Insurance from Total Loss Gap

 

Why should you consider protecting your new car with Toyota Gap Insurance from Total Loss?

 

The answer is simple: Gap Insurance is your financial safety net. Your policy ensures you can have peace of mind, knowing you're covered if your Toyota is written off.

 

The harsh reality is this: without any form of gap insurance, be it from us or your Toyota Main dealership, should the worst happen, and your Toyota is written off, you could find yourself in a financial bind, potentially losing several thousand pounds. In the worst-case scenario, you might even be burdened with paying for a vehicle you can no longer use.

 

This significant financial risk can be alleviated with Toyota Gap Insurance from TLG.

 

          

 

How does a Toyota Gap Insurance policy from TLG protect against depreciation?

 

No Toyota owner ever wants to think of their new car losing value, but is it a cost of motoring? Vehicles lose value over time. Some can lose up to 50% and, in some cases, even more in three years.

 

Real-Life Examples of Potential Deprecation and gap Insurance claims

 

A Toyota CHR 2 Registration plate was Bought three years ago for £26509 now with 20,000 miles on the clock.

Motor companies Settlement value now £16750* ( this is what you would expect to be paid by your motor insurer)

Potential Gap Insurance Claim £9759

A 3-year Totoya Gap Insurance quote from TLG on a Return to invoice basis would cost £139.91**

 

A Toyota CHR 71 Registration plate was bought three years ago for £33354. It now has 30,000 miles on the clock. 

Motor companies Settlement value now £22250 ( this is what you would expect to be paid by your motor insurer)

Potential Gap Insurance Claim £11104

A 3-year Totoya Gap Insurance quote from TLG on a Return to invoice basis would cost £153.45**

 

A Toyota Camry 21 Registration plate was bought three years ago for £31044. It now has 43,000 miles on the clock. 

Current market value  £21590* ( this is what you would expect to be paid by your motor insurer)

Potential Gap insurance claim of £9545

A 3-year Totoya Gap Insurance quote from TLG on a Vehicle Replacement basis would cost £209.75**

 

A Toyota Rav 4 71 Registration was bought three years ago for £46614. It now has 30,000 miles on the clock. 

Current Market value  now £30450* ( this is what you would expect to be paid by your motor insurer)

Potential Gap insurance claim of £16164

A 3-year Totoya Gap Insurance quote from TLG on a VRI basis would cost £239.21**

 

*prices are taken from Glass Guide Dealer Retail May 2024

** Total Loss Gap Insurance Prices May 2024

 

This drop in value is called deprecation and is not a concern while you have your vehicle to use. It is a massive concern if your Toyota is written off, as this value is used to calculate any settlement you are offered from your fully comprehensive motor insurance company. This means that the amount you are offered could be thousands of pounds less than what you paid initially or even less than the amount you have to pay to clear any outstanding balance on your finance agreement. 

 

A Toyota Gap Insurance from TLG pays this gap, so you do not have to foot the bill yourself.

 

How would a Toyota Gap Insurance from TLG work?

 

Depending upon which level of Toyota Gap cover from TLG you are eligible for and decide to purchase your gap policy, you can

 

Toyota Contract Hire Gap Insurance from TLG

Toyota Contract Hire Gap & Finance Gap Insurance from TLG is a comprehensive policy that covers the difference between your insurance company's market value settlement and the amount outstanding on your lease agreement or the amount owing to your finance house. ( loan must be linked to your Toyota that is to say not a bank loan ) This means you won't be left with a hefty bill to pay if your Toyota is written off.

TLG IPID From June 2024            TLG Contract Hire From June 2024

 

 Toyota Combined Return to Invoice Gap Insurance from TLG

Toyota Combined Return to Invoice Gap Insurance from TLG - Pays the difference between your insurance company settlement and the higher of either 

1. The amount settlement figure on your finance. 
2. The original purchase price you paid. 

TLG IPID From June 2024             TLG Return to Invoice From June 2024

 

Toyota Vehicle Replacement Gap Insurance from TLG

Toyota VRI Gap insurance from TLG  pays the difference between your insurance company's market value of the Toyota you were written off and the higher of either.

1. The amount outstanding on your hire purchase or PCO agreement or loan linked to your Toyota
2. The invoice price you paid. 
3. The replacement cost of another Toyota the same as yours was on the day you bought it; if that model is no longer available, settlement is based on the superseding model. Without a superseding model, your settlement would be based on the invoice you paid for your Toyota plus an extra 10%. 

TLG IPID From June 2024                TLG VRI GAP From June 2024

 

How much would a Toyota Gap Insurance from TLG cost?

 

We will need to know a little more about you and your Toyota to give you an accurate price. We don't want to start with prices, etc. We would rather be transparent and ensure that you give us the most appropriate level of cover and the best price possible.

Please also remember we can not cover cars bought from private sellers or auctions.

 

Please click for an instant quote online or call and speak to a team member to see just how affordable and easy a Toyota Gap insurance quote from TLG can be.

          

          

An Introduction to Toyota

 

Toyota, a Japanese multinational automotive manufacturer, has a rich history dating back to its founding by Kiichiro Toyoda in 1937. The company's roots lie in establishing the Toyota Industries Corporation, which initially focused on automatic loom production. However, Kiichiro Toyoda recognized the potential in the automotive industry and pursued the creation of an automobile division.

 

The prototype of the Toyota automobile, the Model A1 passenger car, was completed in 1935. Two years later, the Toyota Motor Corporation was officially established. Toyota's early years were characterized by the production of compact vehicles, and the company garnered acclaim for its dedication to quality and innovation.

 

Over the years, Toyota expanded its global footprint, becoming one of the most significant and influential automobile manufacturers worldwide. The company has been at the forefront of technological progress, particularly with introducing the Prius, a pioneering hybrid vehicle that substantially impacted the automotive industry.

 

Toyota remains a trailblazer in the automotive sector, known for its unwavering commitment to sustainability, reliability, and ongoing advancement.

 

With a diverse vehicle lineup and a strong emphasis on research and development, Toyota remains a dominant force in shaping the future of transportation.