GAP Insurance – Avoid the shortfall!

Many people are not aware that if your vehicle is written off due to an accident or stolen and not recovered, your motor insurance company only pays out the market value for your vehicle. Because of the way vehicles depreciate this can be much less than what is outstanding to the finance company. This is “the GAP” which is down to you and GAP Insurance protects this liability.

Financial GAP Insurance

Finance Gap pays the difference between the market value or the insurance settlement (which ever is the greatest), and the outstanding finance on the vehicle up to a maximum of £5000 or £10000.

• GAP pays the DIFFERENCE between the “Market Value” (As defined by CAP Guide Retail) and the finance company settlement or termination figure
• GAP insurance is available only to finance customers on any finance agreement

Why Should A Customer Buy Financial  GAP?

• More than 1,000 cars are stolen everyday in the UK
• More than 1/3 of cars stolen are never recovered
• Of the recovered cars over 50% are written off
• Car crime represents nearly 25% of all crimes
• 800,000 cars are written off per annum due to accident or crime

GAP Benefits

• Protects the customer against a substantial loss
• In the event a customer’s car is stolen or written off and declared a total loss by their motor insurance company, GAP will pay to the customer the DIFFERENCE between the Marker Value of the vehicle and the finance company settlement / termination figure, up to a maximum of £5,000 or £10,000
• Cover for the full term of the finance agreement
• Customers can either pay a single one-off payment, or they can pay by 10 month interest free direct debit. This covers the vehicle to its lowest depreciation point over the term of the finance agreement
• Inclusion of Extras
• Manufacturer fitted accessories are covered