What is GAP?
Guaranteed Asset Protection will protect you if you write off your vehicle.
Peace of mind with just one single payment.
Why Do I need GAP?
Your motor insurer may not pay you enough either to settle any finance outstanding on your vehicle or purchase a replacement vehicle. Gap Insurance will ensure that you are not left out of pocket if you have a total insurance loss by covering any shortfall between your insurance pay out and the amount outstanding on the finance agreement.
There are several types including:
Finance GAP - Meeting the difference between market value at the time of the total loss and the outstanding finance balance;
Purchase Price Protection (Back To Invoice Protection) - Covering the difference between market value at the time of the total loss and the original invoice price for the vehicle;
Vehicle Replacement lnsurance - Covering the difference between market value at the time of the total loss and full replacement value of the vehicle;
Lease GAP - Protection to cover early termination charges imposed by the finance company following termination of a Contract Hire or Personal Contract Hire agreement as a result of a total loss, covers the difference between market value and the early settlement charges.
Fleet Gap - Annually renewable policy for fleets of 10 or more vehicles.
Surprisingly little considering the cover and peace of mind it brings. From £130 cover for three years. Phone or email us now for a quote.
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