If an incident occurs that results in your vehicle being written off due to an accident, fire, theft or an adverse weather condition such as flooding, then the settlement amount you receive from your motor insurer could be significantly less than the outstanding balance of the original purchase price.

The market value of your car at the time of the incident is used by most motor insurance companies to determine the total loss of payment. Any depreciation in the vehicle value would potentially be a loss incurred by you, and you could be left without a car plus the burden of settling any outstanding finance.

GAP Insurance Features

If your vehicle is written off or stolen and is declared a total loss by your motor insurer, GAP will cover the difference between the vehicles market value and the net invoice price you paid for it or any outstanding finance (whichever is greater).

  • Return to Invoice cover is available for up to 48 months and, if applicable, Financial Shortfall cover is available for up to 60 months.
  • Maximum claims benefit of up to £50,000 in the event of a write off that declares the vehicle at a total loss.
  • We will cover any excess up to a maximum amount of £300 unless it is recoverable from a third party.
  • No vehicle age or mileage limit.
  • Dealer fitted accessories are covered up to a combined value of £1,500 including VAT.
  • Contract hire/lease included to a maximum monthly rental of £1,000 including VAT.

How does GAP Insurance work?

Whether you have purchased your vehicle on finance or in a different way, Combined Return to Invoice & Financial Shortfall GAP Insurance could return you to the original position you were in when you first purchased the vehicle.

In the event of a declared total loss of the insured vehicle after the start date and before the end date of your policy, GAP Insurance will pay a maximum benefit equal to the difference between your motor insurance settlement and the original invoice purchase price of the insured vehicle, or if the figure is greater, the amount you require to pay your finance early settlement amount.

How much does GAP cost?

12 months24 months36 months48 months
From £125 From £243 From £389 From £530