Are you one of the 24,000,000 drivers in the UK with inadequate insurance cover? If so, you need to buy GAP Insurance.
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If your vehicle is declared a Total Loss, a GAP Insurance policy will either pay the difference between your Comprehensive Insurance settlement and settling your outstanding finance, or pay back to your original purchase price or replace it.Get a quote
A vehicle is most likely one of the biggest depreciating assets you will buy, either for cash or on finance, potentially losing as much as 50% of its value in 3 years. GAP Insurance protects you against this financial riskGet a quote
Buying a GAP Insurance policy has never been easier. In 5 easy steps you can get a quote and buy online, receiving your policy electronically within secondsGet a quote
Peace of mind that you have bought a GAP Insurance policy that is better than any other available online and that is protected by the Financial Conduct Authority Compensation Scheme.Get a quote
You must apply for a GAP Insurance policy within 180 days of delivery of your vehicle, irrespective of whether your primary insurer offers a replacement facility in the first year. If this is the case, providing you make a claim in the first year, we will transfer the whole policy to the replacement vehicle.
This policy will pay the difference between the Fully Comprehensive Insurance settlement and invoice price, or it will clear the finance outstanding if this is a higher figure.
This policy will pay the difference between the Fully Comprehensive settlement and the Glass's Guide Retail Price quoted at the time of the GAP policy purchase.
This policy will pay the difference between the Fully Comprehensive Insurance settlement and replacement costs of a new vehicle or one of a similar age as the vehicle you originally bought. Or, it will clear the finance outstanding, if this is a higher figure.
This policy is designed to clear the outstanding rentals on your Contract Hire agreement and any shortfall between the residual value and insurance settlement. Leasing companies typically charge 50%-100% of the outstanding rentals on top of whatever Fully Comprehensive settlement is made.
If the car is on a lease (contract hire), it is worth checking with the leasing company what their charges are if the contract is settled early. Many leasing companies charge 50%-60% of outstanding rentals whilst some will charge you 100%. For cars purchased, purely as a guide, you could assume a vehicle 2 years old would be worth about 65% of its original value, for 3 years you would assume 45% -50% and for 4 years you would assume 35% - 45%.This guide is based on both the average mileage and average wear and tear on the vehicle. You would need sufficient GAP insurance to cover the difference between this and the invoice/replacement cost.
Yes it is, we will transfer the balance in monetary terms from your old policy and take this off the balance of the new policy.
The registered owner or keeper or a named driver on the Fully Comprehensive Cover needs to be the applicant for the GAP insurance policy.