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GAP insurance - information

GAP Insurance - from Portwood's

Availability: Insurance for car / van / taxi / fleet and driving tuition use. UK owners only

B. Portwood are providers of GAP insurance for new and used cars bought outright, on Finance or on Lease. GAP insurance for vans and commercial vehicles. GAP policies are available for driving school tuition use and taxis (other than Lease vehicles). For companies, lease GAP insurance to cover fleets on lease hire (an annual declaration is made).

GAP Types

There are three basic types:

Back to Invoice GAP (or Return to Invoice) - for up to 3 years from date of purchase

Finance GAP insurance - for up to 5 years from loan agreement, and

Lease GAP insurance - for up to 4 years from the lease start date. We also offer

Subject to terms and conditions, Back To Invoice GAP pays the difference between the price paid for the vehicle and the total loss offer by the insurance company, Finance GAP pays the shortfall between a total loss offer and the amount outstanding on the Finance agreement. Lease / Contract Hire GAP pays the difference between the total loss offer and the amount remaining on the Lease Deal. Please note that (other than for fleets) the premium is a one-off and that it will be impossible to renew/ take out a policy on your vehicle once the period of cover you select expires.

Early Termination.

Early Termination Insurance is slightly different. Early termination Insurance pays a benefit if the finance/lease has to be cancelled early. Early termination pays out if Finance/ Lease contract is cancelled early due to death, unemployment, expatriation or loss of driving licence.

GAP Insurance - Rates for all vehicles included

Finance	Back To Invoice	Lease	Fleet

Save £10.50 on our GAP Insurance premiums by buying online (not available for Fleet)

Typical GAP Insurance Exclusions

There are several exclusions. For full details have a look at the summaries or wording however typical exclusions could be: Loss if the damage isn't covered under a policy, if the driver is drunk, if the car is stolen with keys left in it, non-standard vehicles (e.g. kit cars) or if the car is used for racing, speed testing, pace making or rallying. Similarly the excess may not be paid and cover would be affected if another policy was in force.

Does 'Back To Invoice' really mean 'Back To Invoice'?

Although sold as 'Back To Invoice', GAP Insurance may not fully cover the price on the invoice provided when you bought the car. This insurance policy will include factory-fitted extras and any discount but not warranties, premiums or road fund licence (which can be claimed back anyway), or 105% of Glass's Retail Value (whichever is the lesser) for that vehicle at the time of purchase. (Some garages give high trade-in values exceeding Glass's guide rates substantially).

Back To Invoice GAP Insurance | Finance GAP Insurance | Lease GAP Insurance

Policy Limits

About Us

B. Portwood & Co Ltd, - Insurance Brokers, 145 Newgate Street, Bishop Auckland, Co Durham. DL14 7EN Tel 01388 607105 is authorised and regulated by the Financial Services Authority - this can be checked on the FSA Register on their website www.fsa.gov.uk. Our company number is 785468. We are not VAT registered. We are registered under the Data Protection Act. You may e-mail us at bishop#thiswebsite for further information. Our IDD is found here - we only offer one insurer for this type of policy. Further contact details are available here.

Arranging Cover

GAP Insurance can be purchased online - we will process the application and send you the policy/ confirmation of cover. There is no proposal form required but you should ensure that the policy meets your requirements especially that you qualify, that you keep a comprehensive policy in place, that the vehicle is acceptable in make/ model and is not modified, nor used outside the scope of cover.

Remember you can save £10.50 on our standard premiums by buying online

You may be pleasantly surprised at the wide range of other insurance policies that we can offer our customers - not just GAP Insurance. Use the links at the top of the page for further information. We advise on the policies we have available if you contact us. If you just use the information on the website than the product is sold on a 'non-advised' basis.

	Back to Invoice GAP (or Return to Invoice) - for up to 3 years from date of purchase
	Finance GAP insurance - for up to 5 years from loan agreement, and
	Lease GAP insurance - for up to 4 years from the lease start date. We also offer