Despite all the efforts you might put into looking after your car, the unexpected can still happen. Through no fault of your own, you might be in a bad accident. You could also have your car stolen. This could result in your car being written off. As a result, you might lose out financially. After a write off, insurers pay out what they believe the car to have been worth at the time. This is almost always less than you might have paid for your car when you bought it. As a result, you could lose out on the amount you bought your car for through no fault of your own.
For example, you might buy your new car for £20,000. After a few years your insurers might only value the vehicle at £15,000. If you had a bad accident and your car was written off, you would only receive this amount back from your insurer. That would leave you £5,000 worse off. GAP Insurance fills in this difference.
GAP Insurance
In the example above, we would pay you the amount of £5,000 after your write off. Our Nissan GAP Insurance policies pay you the difference between what your insurers pay out, and the price that you initially bought your car for. Alternatively, if you have your car on finance, we will pay out the difference between the insurer pay out and the remaining amount of finance you have to pay.