In the event of total loss of your vehicle, your insurance cover will only pay the current market value. Our GAP Insurance (also known as Asset Protection or RTI insurance) covers the difference between the price you pay for your vehicle and the insurance settlement.
Picture this scenario:
You purchase a car at £18,000 on finance and a year later, it gets written off following an accident or theft. In this event, your car insurance then send you a cheque for the current market value (at the time of the accident) which amounts to £12,000.
However, you still owe the Finance Company £15,000. The GAP insurance will payout the £3,000 difference – it’s as simple as that!
With cover for up to three years, it doesn’t matter how much your insurance company pays out: we’ll make sure we cover the difference.
|Duration (months)||Maximum Vehicle Value||Price|
*Dependent of vehicle value.
Terms and conditions apply depending on age and mileage. Finance subject to status. Written details available on request.