What is GAP Insurance?

You have been told you need it, but what is GAP Insurance?

GAP Insurance, also known as Guaranteed Asset Protection Insurance, covers the difference between the value you bought your car for, and the amount that your insurers pay out to you after a write off.

1. You purchase a vehicle

This can be bought in full, on finance or on a lease.

2. Vehicle is written off

A total loss occurs when the vehicle is in an accident or a theft.

3. The insurance pays out

The insurance pays out on the vehicle’s value at time of write off.

4. We pay out the rest

We give you the difference between the value of your car when you purchased it and what the insurer paid you.

Example of GAP Insurance

If you buy a car for £10,000, you might only get back £6,000 from your insurers after a write off a few years later. GAP Insurance covers you for the difference of £4,000 between the insurer’s value and the purchase price.

If you need details on what GAP insurance is, feel free to give us a call on 0161 388 2550 and we can help you through your quotation.

What is gap insurance

Level of cover

We offer GAP & RTI insurance.
GAP Insurance

(Guaranteed Asset Protection)

Cover the difference between your insurance pay out and the remaining cost of your finance agreement.

RTI Insurance

(Return To Invoice)

Cover the difference between your insurance pay out and the price you paid for your vehicle.

Frequently Asked Questions

Is GAP Insurance worth it?

As soon as you drive your vehicle off the forecort of a dealership, it depreciates in value.

When your vehicle is written off, the insurance will pay out the value of the vehicle at the time of the claim. This will always be less than what you originally paid when purchasing it.

GAP Insurance will help prevent you from further financial loss by paying the difference between what the insurer pays you at the time of a claim, and how much you originally paid for it. This is the case if you paid for your vehicle with cash or finance, or if it is a lease vehicle.

What GAP Insurance do I need?

The type of GAP cover you need depends on how much cover you would like to protect vehicle.

Our policies level of cover include GAP and RTI.

This means they will both cover costs owed to your finance company or your original invoice for the vehicle. We cover both private and commercial vehicles up to 3,5 tonnes. Exceptions apply. Please, refer to the relevant documentation.

How much does GAP Insurance cost?

A GAP Insurance policy premium is based on how old your vehicle is, the value of the vehicle and how long you would like your policy for.

Our premiums start from just £72.24 for GAP & RTI Insurance.

What Can We Do For You?