Finance Products

Guaranteed Asset Protection (GAP) Insurance

Due to growing technological sophistication and fast depreciation, cars which are involved in relatively minor collisions are being written-off! It's not just collisions that can write your car off either; events such as fire, vandalism, storm damage and even putting the wrong fuel in can all write-off your car! So it's a good idea to protect yourself.

Why have GAP?

If your vehicle was written off or stolen, you will only get back the current market value of your car on a standard motor insurance policy. This would leave you out of pocket having to pay off outstanding finance on a car you no longer have or paying to replace it!

If you are a cash customer, 'GAP' will pay the difference between the actual amount paid out from your motor insurance and the original purchase price. If you are a finance customer 'GAP' offers you the alternative benifit of covering the balance outstanding on your finance agreement if this payment is higher.

'GAP' covers you for 3 years. You can also select a claim limit to suit the cost of your new vehicle. Claim limits from £5,000 to £25,000 are available. 

Can you give me an example of how GAP works?

Example for a cash customer:

Example for a finance customer:

Benefits

• 'GAP' pays the difference between your motor insurance pay out and the original purchase price, so you can afford to buy a new car.
• 'GAP' pays off any outstanding finance so you dont have to.
• 'GAP' can cover you for 3years, or for the full term of your loan.
• Single payments up to a maximum of £25,000.
• You can select a claims limit to suit the cost of your new vehicle, from £5,000 to £25,000.  

Written quotations are available on request. Terms and conditions apply.