GAP Insurance (Guaranteed Asset Protection) covers the difference between the original purchase price of your vehicle or the balance outstanding on any credit agreement and the amount your car insurer will pay you following an accident or theft where the vehicle is declared  as a write off. Over time depreciation will affect the amount you receive as a settlement from the insurer.

With finance or leasing of a vehicle over two, three or four years becoming increasingly popular in the UK, the balance outstanding at the time of an incident may often be more than the settlement amount from the insurer. This will leave you with a shortfall to pay to the finance company while at the same time trying to replace your vehicle.

Whilst there are different types of GAP policies available that can be arranged over different periods, the principle remains the same. A one off premium can provide cover for two, three or four years”

Please do call our team on 0800 581 619 or leave your details on our contact page.