New cars often cost a lot of money. When you put so much into a car, you probably want to protect your investment. You might do this in a few ways. While you have to insure your car, most people choose to insure their car as fully as possible, with a fully comprehensive policy. This ensures that your vehicle will have protection in the case of an incident, and accident or a theft. You could also protect your car by taking good care of it, and keeping it in a secure location.

Despite your efforts, you can’t entirely control what happens to your car. The unexpected does happen – and could easily damage your finances. Accidents happen, and your car could be damaged and written off in an instant. This risk is regardless of how well you look after your car. If this does happen, then your insurers might pay out significantly less than you expect.

This is because your insurers will usually only pay out what they currently expect your car to be worth, not what you paid for your car initially. In this way, you might end up losing out on thousands of pounds, through no fault of your own. For example, you might spend £20,000 on your new KIA. After a few years, your insurers might only value your car at £16,000. They would therefore only pay out £16,000 to you after a write off, rather than the value you initially bought your car at.

KIA GAP Insurance protects the price that you initially paid, not the amount that your insurers value your car at. In the above example, this would mean that we would pay you the £4,000 difference. In this way you would not lose out financially after a write off. We would also pay you the difference between how much you received from your insurer, and how much you had left to pay on your finance, if that was how you bought your car.