GAP Insurance For Your Car
Car GAP Insurance Cover
In the event of your car being involved in an accident or stolen and is deemed a total loss or is ‘written off’, your motor insurer will usually look to settle on the current market value, so with depreciation over time the settlement will usually be less than you originally paid for it.
The moment you drive a new car off the forecourt, it’s value starts to reduce. Different cars depreciate at different rates, whichever make and model you choose, especially in the first few years.
A Guaranteed Asset Protection (better known as GAP) insurance policy will pay you the difference between what your car insurance company pay you for the car being a total loss (based on current market value) and what the purchase price or outstanding finance is (whichever is the greater), giving you peace of mind that you can repay any loans on the car, or being able to replace your car with a ‘like for like’ model.
GAP Cover Example
Mr Smith buys a new car for £29,000.
He’s looking at GAP insurance quotes that cover him for up to s 2, 3 or 4 year period, with a payout up to the invoice value.
Example Prices.
- A 2 Year Policy: £156.52.
- A 3 Year Policy: £248.16. (Our Most Popular Policy)
- A 4 Year Policy: £351.44.
*N.B. Above prices are accurate at July 2025, including broker fee.
Mr Smith decides to take the popular 3 year policy for £248.16,
In year 2 he’s involved in an accident which results in the vehicle being a ‘total loss’,
His main car insurance company pay him the current market value which is £19,000,
He purchased the car 2 years ago for £29,000 so this GAP Insurance policy pays him the difference of £10,000, allowing Mr Smith to buy a new ‘like for like’ vehicle.
To discuss a new GAP policy please call us on 01288 353999.
Are You Eligible for our GAP Insurance Policy?
- Cover available for private cars (up to 7 seats), taxis (non black cab & up to 10 seats), motorcycles and small vans up to 3.5 tonnes.
- Vehicle must have been purchased within last 180 days from a VAT Registered Dealership/garage.
- Vehicle’s value must be below £74,999 (higher values maybe available on referral).
- The vehicle must be listed in the Glass’s Guide, must be less than 8 years old, with a minimum value of £5,000.
- You applying as an individual or company, resident or registered in the United Kingdom, Channel Islands or Isle Of Man.
- The vehicle must be registered in the United Kingdom, Channel Islands or Isle Of Man.
- The main car insurance policy provides Comprehensive cover, and used by named drivers only on that policy.
- Drivers between 18-75 years or age.
- Cover not available for fleet vehicles or vehicles registered under a motor trade policy.
- Only these vehicle brands can be covered – Abarth, Alfa Romeo, Audi, BMW, Citroën, Cupra, Dacia, DS, Fiat, Ford, Genesis, Honda, Hyundai, Infiniti, Jaguar, Jeep, Kia, Land Rover, Lexus, Maserati, Mazda, Mercedes-Benz, MG, Mini, Mitsubishi, Nissan, Opel/Vauxhall, Peugeot, Polestar, Porsche, Renault, Seat, Skoda, Smart, SsangYong, Subaru, Suzuki, Tesla, Toyota, Volkswagen, Volvo, including Convertibles, Coupes, Estates, Hatchbacks, MPVs, Sedans, SUVs and 4x4s. Any makes not listed here will not be covered. Motorbikes from major manufacturers as well as Scooters and Mopeds.
GAP Insurance - Features & Benefits
- Cover For New and Used cars, Vans & Motorcycles (up to 8 years old).
- From 2 to 4 Year Terms Available.
- Pay-out Benefit up to invoice value
- Covers All eligible Drivers between 18 & 75.
- Includes Cover For Your Excess Up To £500.
- Settled on RTI (Return To Invoice) or Outstanding Finance Balance From Day 1.
- 7 day rental car included if insurers doesnt provide one, or up to £20 per day.
What Is Excluded or NOT Eligible Under Our GAP Insurance Policy?
Cover will vary between different types of GAP policies, and different providers, so make sure you always read the policy summary carefully. Some common exclusions are:
- dealer fitted accessories or options (as they may not have any value at time of loss), apart from £1500 factory fitted items.
- warranty costs
- fuel
- paintwork protection applications
- insurance premiums
- road fund licence or road tax
- other additional amounts included in the invoice
- Any vehicle that is NOT right hand drive.
- Grey imports, emergency vehicles, commercial vehicles over 3.5 tonnes, black cabs, courier vehicles, buses, minibuses, coaches, trucks, motor homes, trailers, heavy goods vehicles, daily rental vehicles, breakdown & recovery vehicles.
- Vehicles used for hire & reward, dispatch, driving school tuition, chauffeuring, road racing, track days (timed or untimed), rallying, pace-making, speed testing or any other competitive event.
- Any vehicle that has been modified after the date of purchase.
Get Your Free GAP Insurance Quote Today
CALL US ON 01288 353999.
