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Up to £250 paid towards your motor insurers excess when your claim is paid.
Cover cover for all drivers 18 yrs of age and over fully comprehensively insured to drive your car.
Changes to your policy including transfer, address and registration number.
How do they compare?
Return To Invoice Gap
If you suffer a write off due to accident, accidental damage, fire, flood or theft, this policy will top up the amount you receive under your motor insurance to;
1. The price you paid for the vehicle
2. If higher, the outstanding finance (if HP or PCP)
Term and conditions apply
Vehicle Replacement Gap
This form of cover will perform the same as Return To Invoice Gap - but will also cover the cost of manufacturers new vehicle price increases -
or in the case of a used vehicle, any value increases that have occurred between the date you purchased your vehicle and the date of it's write off. Motor manufacturers increase new vehicles prices annually to cover inflation and also when they launch a 'facelifted' or new model 'successor'.
Example for cash buyers
A customer buys a car or van for £24,000.00.
Two years later, the vehicle is stolen and written off. The motor insurer agrees to pay the market value of £14,000.00
In this example, Return to Invoice Gap Insurance will pay the customers loss of £10,000.00 to enable him/her to purchase another vehicle for £24,000.00.
If in this two year period, the cost of the same new like for like vehicle has increased from £24,000.00 to £25,500.00 a Vehicle Replacement Gap would not only cover the shortfall of £10,000 (same as the Return To Invoice Gap), but it would also cover the additional price increase of £1,500 - paying £11,500 in total.
Example for HP or PCP buyers
A customer buys a car or van for £24,000.00 and arranges a 3 year finance plan such as a PCP or HP.
Two years later, the vehicle is stolen and written off. The motor insurer agrees to pay the market value of £14,000.00.
At the time of the total loss, the finance company requires £15,000.00 to settle the finance plan which is £1,000.00 more than the £14,000.00 paid by the motor insurer . Without Gap Insurance, this leaves the customer with a debt of £1,000.00.
In this example, Return To Invoice Gap Insurance would pay £10,000.00 to top up the motor insurers payout to £24,000.00. This £24,000.00 sum provides enough to settle the lender £15,000.00, leaving the customer with a balance of £9,000.00 to use as he/she wishes.
If in this two year period the cost of the same like for like vehicle has increased from £24,000.00 to £25,500.00, a Vehicle Replacement Gap Insurance would not only cover the shortfall of £10,000.00 (same as the Return To Invoice Gap), but it would also cover the additional price increase of £1,500.00 - paying £11,500.00 in total. This £25.500,00 sum provides enough to settle the lenders £15,000.00, leaving the customer with a balance of £10,500.00 to use as he/she wishes.
What is a write off?
A write off is also referred to as a total loss. A write off is when your insurer pays you or the owner what the vehicle is worth at the time of the write off. A write off can be caused by a number of events;
Accidental damage could be severe damage suffered in an own fault or third party fault road traffic accident. Most motor insurers will declare your vehicle a write off if the cost of repair is 50% or more of the market value of the vehicle.
When a vehicle is stolen and not recovered, your motor insurer will declare the vehicle a write off.
Fire and Flood
Fire and Flood are common causes of write off. Where the cost of repair is high, your motor insurer will declare your vehicle a write off.
The above are simple explanations to help you understand how the risk might affect you. Not all costs are covered by this policy.
*Always refer to the full policy terms and conditions below for more detail and always before purchase.
Covers vehicles purchased with cash or HP, PCP
Covers up to £250 toward your motor insurers excess
No Claim limit on cars up to £50k, £50k limit thereafter
Covers unlimited number/value of factory fitted options
Covers unlimited dealer accessories fitted to vehicle
No mileage restrictions during policy term
Covers on the road costs (delivery, plates & first reg fees)
Any driver over 18yrs of age covered if insured to drive
We have been featured in Which? for many years
We only use independently 'A' rated global insurers
Financial Conduct Authority Authorised and Regulated
Covered by Financial Services Compensation Scheme
We are UK specialists with over 40 years experience
FREE policy amendments
FREE policy transfers
We are independently 5 star rated
We are directly authorised and regulated by the Financial Conduct Authority and have been since 2007.
The Financial Conduct Authority is our industry watchdog. We are directly authorised and regulated by them. This means the FCA monitor access to our service and financial performance every six months to ensure we are meeting their requirements.
All policies arranged by us are protected under the Financial Services Compensation Scheme.
All insurances arranged by us and our website are covered by the Financial Services Compensation Scheme. To read how this protects you, please read our full policy terms and conditions document.
If you change your mind within 30 days, we'll refund your premium less a £15 administration fee.
We uniquely have over 40 years experience in vehicle sales and specialist supplementary vehicle insurances. When it comes to Gap Insurance, we are experts - it's what we do. All our staff are mature and highly experienced.