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GAP Cover

With car values depreciating as soon as you drive them off the forecourt and the constant risk of accidents, it is important that you protect your investment.

GAP Insurance will protect you if you write off your vehicle. GAP Insurance will ensure that you are not left out of pocket if you have a total insurance loss by covering any shortfall between your insurance pay out and the amount outstanding on the finance agreement.

Over half a million cars are stolen each year, most of these are written off or vandalised. Add to that the large number of accidents each year and you could be the next person to suffer a vehicle write off. A GAP Insurance policy will cover you against financial loss should your car be stolen and/or written off.

Most of us think our Comprehensive Motor Insurance covers us if our vehicle is written off... THINK AGAIN!

If your vehicle is written off your motor insurer will only pay the current market value for your vehicle!

So what happens if the current market value is not enough to replace your vehicle or pay off your finance or contract hire agreement?

Simple, there is a financial GAP that you will have to pay out of your own pocket:

Contract Hire GAP Insurance

Eligibility – Contract Hire, Personal Contract Hire, Lease Hire, Finance Lease

This GAP Insurance has been designed for vehicles that are financed on Contract Hire or Personal Contract Hire.

In the event the insured vehicle is the subject of a Total Loss the Lease GAP Insurance will pay the difference between the comprehensive motor insurers Total Loss settlement and the Early Settlement charge applied by the vehicle finance company up to a maximum amount.

The settlement is made direct to the finance company

Purchase Price Protection Insurance

Purchase Price Protection Insurance is available to you whether you paid cash or borrowed the money from a Bank or Motor Loan or even chose Contract Hire or a Leasing agreement.

If you are leasing a car, paid for your car using a bank or finance house loan or simply paid cash, PPP GAP insurance will protect you against depreciation if your car's stolen and not recovered or damaged beyond safe or economical repair and your motor insurer declares it to be a total loss.

When your motor insurer declares your car to be a "total loss" through theft, vandalism or accident, it's really important to understand that they typically only pay the loss value, the value of your car on the date of loss? Not the invoice price (purchase value), what it was worth when you purchased GAP.

Now the good news, if this happens Purchase Price Protection Gap Insurance will pay the depreciation, the difference between the invoice price (purchase value) and loss value of your car... it's that simple!

Finance GAP Insurance

Finance Gap Insurance is available to you if you have elected to buy your car using a Motor Loan or HP Agreement through your supplying dealer.

Finance Gap Insurance avoids you being out of pocket if your Motor Insurer pays you less than you must pay to settle your loan if your car is declared a "Total Loss".

The difference between the amount you receive from your Motor Insurer and the Early Settlement figure of your Finance Agreement will be paid - even if the interest charged makes that higher than the amount you borrowed or paid for the car!

Protect your investment and avoid financial worry... buy GAP Insurance today call 0845 676 9511