GAP Insurance
If your vehicle is written off or stolen there is a risk that the insurance settlement may not be sufficient to cover the outstanding finance owing on the vehicle. This is because vehicles tend to depreciate more quickly in the first year and then at a slower rate as they get older.
Finance GAP pays the difference between the market value, based on CAP Guide Retail at the time of loss or the insurance company settlement (whichever is the greater), and the outstanding finance on the vehicle up to a maximum of £5,000 or £10,000 (subject to eligibility). In addition to this, we may also pay you up to £250 of your motor insurance excess in the event of a "fault" claim.
We Offer a fixed priced FINANCE GAP INSURANCE POLICY which can either be paid for with a one off payment or over 10 monthly installments to cover you for the up to 5 years of a finance agreement subject to eligibity. Please see below our fixed cost price structure -
| Amount of Cover |
Single Payment |
10 Monthly Payments |
| £5k Benefit |
£249.00 |
£24.90 |
| £10k Benefit |
£399.00 |
£39.90 |
Eligible Vehicles
• Vehicles up to £75,000 invoice price
• Available on ALL finance agreements (excludes cash purchases)
• Cars and commercial vehicles upto 3.5cwt
• Cover is valid for up to 5 years in line with the finance agreement
• Cars and commercial vehicles up to 6 years old
Major Exclusions
• Road Fund Licence, Dealer Fitted Accessories, Warranties or any other Insurances
• A vehicle written off whilst driving illegally or under the influence of drugs or alcohol
• A vehicle not covered by a Fully Comprehensive Road Risk Motor Policy
• A vehicle used for Hire or Reward
• If the vehicle is left unattended when the keys have not been removed, the doors are unlocked and any immobiliser and / or alarm is not activated
*This is only a brief summary, full policy terms and conditions are available upon request.
General Enquiries
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