I have a question regarding...GAP Insurance
Why do I need GAP Insurance?
GAP Insurance is designed to protect you against financial loss. In the event of a total loss claim your comprehensive insurer will only pay you market value for your car at the time the car is written off. This leaves you exposed to any remaining finance settlement charges or the substantial loss suffered with the vehicle value depreciation. If your car is on contract hire or a non-regulated purchase agreement, you may be faced with a bill of up to 100% of the outstanding payments.
I own the car and have it insured in my name but my husband is a named driver. Is he covered?
Our GAP insurance policies cover all named drivers on your motor insurance policy.
I own the car but I am not the main user on the insurance policy, in whose name do I apply for GAP?
The registered owner or keeper or a named driver on the Fully Comprehensive cover needs to be the applicant for the GAP insurance policy
Which policy should I buy if my car is on finance?
If the car were on a purchased based finance arrangement, Back to Invoice+ or Vehicle Replacement Insurance would be appropriate. Back to Invoice+ will either pay back to your invoice price or settle the finance - whichever the greater. With a Vehicle Replacement Insurance, although the agreement may need to be settled, you will receive the full value of a replacement vehicle.
Is Finance GAP the same as Contract Hire GAP?
This depends on the supplier but you really need to double check the small print. Our contract hire GAP specifically covers up to 100% of outstanding rentals and any potential differences in residual value.
I bought my car from a private individual; can I still have GAP insurance?
You can still have GAP insurance but we would not be able to return it to the purchase price. Instead we would cover the difference between the vehicle retail value at the point of total loss and the Glasses Guide Retail Price on the day you purchased the policy.
Are there any instances where GAP insurance doesn't pay out?
Yes, if your Fully Comprehensive insurance provider refuses your claim, the GAP insurance will not pay out either. Two examples of this may be if you leave the keys in the ignition and the car is stolen or if you cause the vehicle to be written off under the influence of drugs or alcohol.
Is the policy transferable should I change my vehicle within the length of the policy cover?
Yes it is, we will transfer the balance in monetary terms on a pro rata basis from your old policy and take this off the balance of the new policy. There is an administration fee to do this which will be discussed at point of transfer. Please note that transfer is only available “car to car” and “van to van”, not “car to van”, “van to car”.
Am I covered if I travel abroad?
Yes – we include 90 days of European cover as standard with all policies.
What happens if I change insurance company?
We protect your vehicle regardless of who you have main policy with. This product is separate to your main insurance.
Is there an Excess?
Get a quote 0333 414 1852
Customer Services 0333 222 1055