When you buy a car, its value starts to reduce the moment you drive away. In the event of a total loss (write-off or theft), your main motor insurer typically pays the current market value at the time of the claim, not what you originally paid.
Motor GAP Insurance protects you if your vehicle is written off or stolen and your motor insurer only pays its current market value, which is often significantly less than what you originally paid.
If there’s a shortfall between your insurer’s settlement and your original purchase price, GAP Insurance steps in and covers the difference.
Cover the difference between market value and purchase price.
Avoid being left thousands of pounds out of pocket.
Get back to your original purchase value after a total loss.
Motor GAP Insurance is available for Drivers aged 18 to 75, UK residents holding a full UK driving licence.
Motor GAP Insurance cannot cover leased vehicles, taxis, couriers, chauffeur vehicles, driving school vehicles, motorhomes, buses, grey imports, modified vehicles, fleet or trade vehicles, or vehicles used for hire and reward or motorsport activities.
Let’s say:
Mr Smith buys a car for £30,000
He takes out a 4-year GAP Insurance policy
After 2 years, the car is involved in an accident and is written off
His motor insurer assesses the vehicle’s market value at £20,000
With GAP Insurance –
Motor insurer pays: £20,000
GAP Insurance pays: £10,000
Total received: £30,000
Mr Smith is restored to his original purchase price, helping him replace his vehicle without absorbing the depreciation loss.
A family business built on honesty, care and community, providing suitable recommendations.
Insurance built around your exact needs not one-size-fits-all policies. Aiming to provide personalised, flexible and great value insurance packages.
We shop the market, so you don’t have. Accessing leading UK insurers and specialist schemes, including markets not available direct to the public.
Experienced team helping businesses and families across the UK stay protected since 1977.
Get a free, no-obligation quote today — or speak to our team on 01288 353999.
