GAP INSURANCE

A 'BIG' insurer with LOW prices!

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We have 1000's of happy customers, why should you use us? Here are just a few reasons.

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GAP INSURANCE

is an optional insurance designed to protect you against losses your fully comprehensive motor insurer will not cover when a write off occurs.

What is a
WRITE OFF?

A write off is also referred to as a total loss. This is when a vehicle is either stolen and not recovered, or so severely damaged as a result of accident, fire or theft - the motor insurer agrees to pay the owner it’s market value.

What is a GAP RISK?

CASH BUYERS

(including personal loans)

Investing your hard earned/saved money into a vehicle that will fall in value every month can be a risky business. In a write off, your insurer will only pay what your vehicle is worth at the time of the accident, fire or theft - and that could be significantly lower than the original purchase price you paid.

FINANCED PURCHASES

(Hire Purchase and PCP arrangements)

In the event of a write off, your motor insurer’s payout may not be enough to settle your finance agreement and you could be left with a debt. In cases where a large deposit was paid, the write off settlement may be enough to clear your finance, but might not be enough to provide you with a deposit for your replacement vehicle.

CONTRACT HIRE AND LEASING ARRANGEMENTS

When a Contract Hire or Leased vehicle is written off, your motor insurer will pay the market value directly to the leasing company. The leasing company’s contract with you usually allows them to charge you outstanding rentals, motor insurers value underpayment, plus other costs. Whilst Contract Hire and Leasing is becoming increasingly popular, the financial risks for the motorist can be high when a write off occurs. Regardless of your circumstances or requirements, there is likely to be a Gap Insurance to provide you with valuable financial protection.


Already covered in the first year? Find out about our Deferred Gap Insurance.

HOW LIKELY IS
THE RISK?

The Association of British Insurer's statistics suggest over 500,000 vehicles are written off every year. That equates to 57 vehicles per hour, every hour 24 hours a day - 7 days a week.

Professional theft is often a high tech operation. The perpetrators have the technology and methods to overcome almost all types and levels of security - including the most basic technique of stealing the keys first!

The Office of National Statistics state ‘over the past 10 years, vehicle theft has accounted for one in seven of all reported crimes’. That is a major reason why 1 vehicle every minute is being written off by the motor insurance industry.

In the large majority of write offs, the unfortunate motorist will either lose, or owe money and the amount can be substantial. Gap Insurance is available to provide a low cost protection against these risks.

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or call us on 01438 870615

FINANCE & CONTRACT HIRE GAP

+ Tops up write off payout - up to the finance or lease settlement,
+ For vehicles acquired by - Finance, Lease or Contract Hire,
+ Cover available - up to 5 years,
+ Available for - New and used car, van and motorcycles,
+ Option to insure 3, 6 or 9 Contract Hire advance rentals.

Read More About Finance & Contract Hire

RETURN TO INVOICE GAP

+ Tops up write off payout - up to the purchase price you paid or if greater, the
outstanding finance,
+ If the finance settlement is lower than the original purchase price - the difference is paid to you,
+ For vehicles acquired by - Cash, Personal Loan and or Finance (PCP, HP),
+ Cover available - up to 5 years,
+ Available for - New and used car, van and motorcycles.

Read More About Return To Invoice

VEHICLE REPLACEMENT GAP

+ Tops up write off payout - up to the purchase price you paid or if higher, the cost of a replacement vehicle (including price increases),
+ If the outstanding finance is greater, the policy will top up the write off payout up to the outstanding finance and if the finance settlement is lower than the original purchase price/replacement value - the difference is paid to you,
+ For vehicles acquired by - Cash, Personal Loan and or Finance (PCP, HP),
+ Cover available - up to 5 years,
+ Available for - New and used car, van and motorcycles.

Read More About Vehicle Replacement

AGREED VALUE GAP

+ Insures up to - 105% of Glasses Guide Retail valuation at time of purchasing cover,
+ For vehicles acquired by - Cash, Personal Loans and or Finance (PCP,HP), but it does not cover finance that exceeds the agreed value,
+ Cover available - up to 4 years
+ Available for cars purchased from a private seller or from a motor dealer over 180 days ago.

Read More About Agreed Value

COMPARE GAP INSURANCE OPTIONS

FREQUENTLY ASKED QUESTIONS

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