Have you considered what will happen if your vehicle is written off before the end of the agreement?

 

A total loss need not be a total disaster. GAP insurance is a valuable policy which you purchase in addition to your motor insurance policy. In the event of your motor insurance providers declaring the vehicle a write-off due to theft, fire or accident this insurance will pay the difference between the amount paid out by the insurance company and any outstanding finance on the vehicle. This means that you can concentrate on sourcing a new vehicle without having to budget for paying off the previous finance agreement for a vehicle you no longer have the use of.

 

Is there a maximum amount GAP will pay?

 

Customers can select a claim limit to suit the cost of their vehicle ranging from £5,000 to £25,000

 

Can you give me an example of how GAP works?

 

If you paid £10,000 for your car and your motor insurance pay out is £6,000 and the amount required to settle the finance was £9,500 the GAP insurance will payout £3,500. It's that simple!

 

What is the maximum term I can have?

 

Customers can select policy terms that range from 12 to 60 months cover in line with the finance agreement but will cease earlier upon the occurrence of any of the following events: a paid claim or the repossession of the vehicle if subject to a credit agreement. 

 

Request a quote for GAP Insurance

Related documents

• GAP Price List (pdf)