GAP Insurance Today has launched new rates and new products!
As a driver, you may be aware of the various risks that come with owning and driving a car. From accidents to theft, the potential financial impact of these events can be devastating. That’s where Guaranteed Asset Protection (GAP) insurance comes in, providing drivers with essential protection against financial loss in the event of an accident or theft.
GAP insurance is an optional coverage that can be added to your existing car insurance policy. It’s designed to bridge the gap between the amount you owe on your car and the actual cash value (ACV) of the car in the event of a total loss, such as a collision or theft. In other words, if you owe more on your car than its actual value, GAP insurance can help cover the difference.
Our new products give an excellent value for drivers because they offer comprehensive coverage at an affordable price (see full details of cover here). These products are available to all drivers and can be purchased for both new and used cars.
GAP insurance can help protect your finances from unforeseen events that could lead to significant financial loss. If you are involved in an accident or your car is stolen and declared a total loss, your car insurance company will typically only pay the ACV of the car. This amount may be significantly less than what you owe on your car loan or lease, leaving you with a substantial financial burden.
Not only can you get GAP insurance on a vehicle that you own, but also a vehicle that you are hiring. Our new Contract and Hire Insurance will cover the shortfall between the total loss settlement by your motor insurance policy insurer and the contract hire settlement or lease.
So, whatever car you have, you can have peace of mind that you won’t be burdened with huge costs if ever your car is deemed a total loss. All of our insurance products are available to purchase online. For more details, please visit our product pages. Alternatively, you can speak to an advisor on 0161 388 2550.