Expert Help Included

Finance GAP Insurance

Finance GAP Insurance is the best option if buying a car on loan (and the one sold most by garages). If your car is being bought on Finance then if it is a total loss the insurers may make an offer that does not meet the outstanding loan on the vehicle. The shortfall is met by this policy. Although these policies can be in force for up to 5 years, a single premium is all that is required.

The GAP is worked out between the total loss offer and the amount outstanding on loan

Once the GAP (or shortfall) is worked out the policy pays this amount NB. The excess is not taken into account.

Example Calculation

The vehicle is declared a total loss with a value of £6,000 - subject to a £100 excess on the insurance, and the amount outstanding is £8000.

You will be paid £5,900 by the insurance company. Your policy will pay you £2,000, so instead of losing £2,100 you will be only £100 down.

Our Finance GAP Insurance Rates (Tabular Form)

Save £10.50 from our rates above by buying online.

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