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Best Price Kia Gap Insurance Quotes

 

With Kia's coveted seven-year warranty and extensive range of cars, buying a Kia has never made more sense.

 

So why should you consider a form of Total Loss Gap Insurance for your Kia?

 

Contract Hire Gap insurance Quote for your Alfa Romeo     Return to Invoice Gap Insurance Quote for your Alfa Romeo     

How does Kia Gap Insurance work?

Various Gap Insurance policy options are available in the market, the most common being Contract Hire Gap Insurance, Return to Invoice Gap Insurance, and Vehicle Replacement Gap Insurance. Depending on your circumstances, which level of Gap insurance is best for your Kia will differ.

Contract Hire Gap Insurance 

The difference between motor your insurance company's settlement for your Kia on the day it was written off and the amount you have left outstanding on your contract or lease hire agreement or finance settlement.

Combined Return to Invoice Gap Insurance

The difference between your motor insurance company's settlement for your Kia on the day it was written off and the higher of

  • The amount outstanding on your finance agreement., 
  • Or the original invoice price you paid.

Vehicle Replacement Gap Insurance

The difference between your motor insurance company's settlement for your Kia on the day it was written off and the higher

  • The amount outstanding on finance - your finance settlement
  • The original invoice price you paid,
  • Or the replacement cost of another Kia of the same make, model, age, and specification as yours on the first day you drove it home. 

 

Why do you need Kia Gap Insurance if you have motor fully comprehensive insurance ?

 

Each car, from all different manufacturers, from Hyundai to Ford, from Landrover to Mini, will lose value over time. The Kia Picanto, Kia Sportage, Kia Niro, EV6, Kia Soul, or perhaps an even newer model Kia will not be worth the same original purchase price in four years as it was when you first bought it. 

 

This difference between the original purchase price and the value of your Kia a few years later or, in fact, on the day it was written off is called vehicle depreciation. It is a fact of life that we all readily accept. After all, you would want to spend much less on a 4-year-old Kia Sportage than on a new fourth-generation Sportage fresh out of the showroom. This difference in value is exactly the effect that Gap insurance (Guaranteed Asset Protection to give it its correct name) can protect you against.

 

While you have your Kia, the depreciation rate is not a problem, as you can still use and enjoy your car. However, if your Kia is written off, either because it has been damaged and the repair is beyond economical repair or because it has been stolen and not recovered, the speed and rate of depreciation can become a massive problem!

 

This is because your motor insurance company is only legally obliged to offer you the current market value of your Kia on the day it was written off. Please remember that while no one likes to think of losing money, cars are depreciating assets, meaning they will lose value over time.

 

Without gap insurance, relying only on your motor insurance company's market value settlement could ultimately mean digging deep into your savings to replace your Kia, adding extra financial commitments to clear any finance settlement, or, in the worst-case scenario, paying for a car you can no longer use.

 

How could a Total loss Gap Insurance policy work if your Kia is written off?

 

A Total Loss Kia Gap Insurance policy may help protect you against these unforeseen costs, providing the additional benefits of financial security and peace of mind, depending upon the level of gap insurance cover you choose. Our automated system or customer service agent will need to know a little about you and your Kia to ensure we offer you the correct levels of gap insurance and the best prices. When you buy your policy, we can offer Kis Gap insurance for new and used cars up to 8 years old with up to 80,000 miles on the clock.

  1. What was the purchase price of your Kia?
  2. Where did you buy your Kia? Was it from a main dealership, a VAT-registered garage, or did you buy it privately or from auction?
  3. How many miles has your Kia already travelled?
  4. How old is your car?
  5. What will you be using your Kia for? For example, Social, domestic, and pleasure, or are you a driving school?
  6. When did you buy your car?
  7. How did you pay for your Kia? Did you pay for your vehicle using a bank transfer or cash, a personal contract purchase (PCP), a Contract hire agreement or perhaps a Lease hire agreement?

We need to know the details about your Kia and usage because different levels of gap insurance are more suitable in certain scenarios. We also want you to be able to benefit from your gap insurance should the worst happen and you need to make a claim. For example, we want to make sure that if you have paid cash for your new Kia, you don't protect yourself with a form of contract hire or finance gap insurance, as you would never be able to claim. A form of return to invoice gap insurance instead, or perhaps, depending on the age of your Kia, a form of vehicle replacement gap insurance would instead give you a much better level of protection and coverage.

 

At present, our team at Total Loss Gap can offer gap insurance cover for a range of Kia cars, such as the Kia EV6, Kia Picanto, Stonic, Ceed, Proceed, and Xceed, as well as the Kia Soul, Sportage, Sorento and EV9. Just as you carefully selected your Kia's model specification and trim level, we want you to be able to choose the length and types of gap insurance that best suit your needs.

Please remember that not all Kia Gap insurance is the same. Small and what can appear to be minute differences in gap insurance terms and conditions can make a huge difference when making a gap insurance claim. So, we always ask you to read your policy documents and contact us with any questions.

 

Considering a Total loss Gap insurance policy to protect your Kia?

 

Firstly, please remember that you do not have to buy Kia Gap insurance directly from your Kia dealership. In fact, you don't need to buy it at all. However, if you choose to protect your Kia with a form of Gap insurance, Total Loss Gap is the logical choice. 

With our Gap insurance policy, you will be pleased to know that all of our policies come with the following. 

  • Policies are backed by the Financial Services Compensation Scheme.
  • How your claim is calculated, handled and settled in Trading Standards approved.
  • All claims are settled by cash payout, and we never, without exception, replace your Kia.
  • Policies purchased for a vehicle with a purchase price of up to £75,000 have no claim limit.

Your Total Loss Gap Insurance policy will include a whole host of additional features as standard.

Alloy Wheel Insurance for your Audi     Smart Care Insurance for your Audi     Excess insurance to cover your Audi Excess Payment

Tyre and Alloy Wheel insurance for your New Audi     Scrath and Dent insurance for your Audi     Audi Tyre insurance

 

We can offer you different types of insurance for your Kia and gap insurance depending on age, usage, and length of ownership. 

  1. Tyre and alloy wheel insurance for your Kia for up to 4 years
  2. Smart Care and Alloy Wheel insurance
  3. Scratch and Dent Insurance
  4. Excess Insurance
  5. Tyre Insurance

 

Examples of depreciation rates and why protecting your Kia Gap Insurance from Total Loss Gap is a logical choice.

 

For example, A Kia Sportage GT Line registered on the 26th of March cost £25490.

Now, with 38000 miles on the clock, it is worth £16500 *

Deprecation Loss of £8990

 

A Kia NIRO 4 EV Regsotered on the 1st of October 2020 cost £37345.

With 11,000 miles on the clock, it is worth £20380*

Deprecation Loss of £16965

 

A Kia EV6 GT Line registered on the 29th of October 2021 cost £44145.

Now, with 17000 miles on the clock, it is worth £31500*

Deprecation Loss of £12645

 

A Kia Soul First Edition EV registered on the 30th of June 2021 cost £34295.

Now, with 12000 miles on the clock, it is worth £19580*.

Deprecation Loss of £14715

 

* valuations taken from Glass's Guide dealer retail effective as of 23rd May 2024.

 

How much does Kia Gap insurance cost when you buy it from a Kia dealership instead of online?

 

If you purchase your policy directly from your local Kia dealership, it's important to note that the coverage and price could vary. Sometimes, the price could be significantly higher, which is a factor to consider in your decision-making process.

 

Traditionally, there were three reasons why the cost of your gap insurance could be considerably higher.

  • One of the reasons for the increase in your gap insurance cost is that when you purchase cover directly from your Kia dealer, they can adjust the cost of your new Kia, which affects the amount of VAT HMRC receives. As a result, you may end up paying a higher insurance premium tax rate, which applies to all insurance products.
  • Secondly, was the sheer volume of policies as opposed to specialist brokers such as ourselves. We are sure you negotiated a good deal when you purchased your new Kia. After all, you would not buy it if you did not think it was. But imagine the buying power you would have had if you wanted to buy 800,000. It would be the same, but you would expect to pay less and have a few nice extras thrown in. That is precisely what we do.
  • Lastly, how was the gap insurance itself promoted? All of our customer service team are salaried. Any bonuses they receive are not based on the sales volume or commission; instead, they are paid based on compliance and customer service levels.

Ready to take the first step in protecting your car with a Kia Gap Insurance policy?

 

Click now for a quick quote and discover how affordable this peace of mind can be.

 

Do you want to know more about the history of Kia and how they became one of the most innovative motor manufacturers in South Korea?

 

“Ki” (?)“A” (?) Kyungsung Precision Industry, which is the Korean word for Kia as we now call it, was founded in 1944. It has a rich history, and since its formation, Kia has gone from strength to strength, from the 1st plant opening in 1945, Yineongdeungpo, Seoul, South Korea, to being named 87th in Interbrand's list of 100 Best Global Brands in 2012, then being awarded PHEV Manufacturer of the Year in the 2017 GreenFleet Awards. Fast forward to 2021, and Kia won Best Large SUV at Women's World Car of The Year and Kia e-Niro was awarded the 'Best EV Small SUV' at the Fleet World Great British Fleet Awards. Globally, they now produce over 2 million cars per year. 

They have also sponsored the Surrey County Cricket Club since 2010, and the grounds are now known as the Kia Oval.

Kia's commitment to value and customer satisfaction has been strengthened with their outstanding 7-year warranty. 

It is true that Kia has taken the UK market by storm and now has a 6.2% market share. Within recent years, Kia has held strong and in 2022, they broke their record and sold over 100,000 vehicles in one year. (figures taken from Kia.co.uk media 19/09/2023) 

By 2027, Kia plans to introduce 14 EV models, with 9 heading towards the UK. There is also a long-awaited EV9 based on the EV9 concept car, aiming to offer Electric vehicles across a range of market segments.