New Vehicle Replacement Insurance product released by Shortfall.co.uk

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Aequitas Automotive, the company behind the UK's newest insurance brand, Shortfall.co.uk, have released details on the new Vehicle Replacement policy available online. The company reveals that Shortfall Vehicle Replacement Insurance product offers a combination of features not replicated with any other policy in the UK.

shortfall.co.uk
Shortfall Vehicle Replacement Insurance provides a combination of features not seen in other products.

The Shortfall.co.uk website was officially launched in the UK this week. The new brand will provide UK consumers with access to a number of niche insurance products. Amongst these is a style of Gap Insurance called Vehicle Replacement Insurance that has become increasingly popular with car buyers in the UK.

Aequitas Automotive, the company behind the Shortfall.co.uk website, also own and operate the established Easy Gap and GapInsurance123 brands in the UK. The company have revealed that the Vehicle Replacement Insurance product on Shortfall.co.uk is different from anything else they currently offer.

Aequitas Automotive Director explained the primary features of the new Vehicle Replacement product, and how it may differ from any other of this type in the UK.

"Having developed two successful names in this field already, the premise behind the Shortfall VRI product was to ensure we offered Aequitas customers a choice. The expertise our product planners have in the market meant that there was a clear understanding of what consumers may seek in a Gap product."

"Vehicle Replacement Insurance is probably the most popular cover for brand new vehicles in the UK. However, it is also clear that it can be quite misunderstood. In the view of Aequitas Automotive this is simply because all the products in the market bearing the name seem to act differently."

"Policy terms for VRI Gap products in the UK can range from providing a replacement vehicle, perhaps the original purchase price, perhaps a choice between the two. This all seems far too confusing in our view, and Aequitas was clear that we intended to take the 'if's, but's and maybe's' out of Vehicle Replacement Insurance."

The Aequitas Automotive Director confirmed that the features and terms of the Shortfall Vehicle Replacement Insurance policy minimise any potential confusion.

"The Shortfall VRI product will cover the difference between the motor insurers settlement and the cost of the equivalent replacement to the original vehicle. This product will not provide you with another vehicle, nor will it only pay the original price you paid. In our view the latter approach can be extremely confusing, as the original purchase price could be far too little to replace the vehicle with the equivalent."

"The Shortfall product, will allow for the full transfer of the original policy terms, the option to defer the policy start date, up to five year policy periods and up to a claim limit of £50,000. There are also no excluded vehicles listed in Glass' Guide, longer permitted claim limits and also the ability to spread the cost of payments over twelve installments, to assist in easing the purchase of the product."

"In the opinion of Aequitas Automotive the new Shortfall Vehicle Replacement product offers the consumer more options than any other in the UK market, and is much easier to understand as well."

Aequitas Automotive confirmed that the new Shortfall VRI Gap policy is available on the Shortfall.co.uk website now.

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Mark Griffiths
@GapInsurance123
since: 05/2012
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