Car Gap Insurance 4
  Return to Invoice GAP Insurance
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Why do I need Car Gap Insurance?
Simple - have your vehicle written off without GAP (Guaranteed Asset Protection) Insurance and you could end up thousands of pounds out of pocket and in some circumstances without a car.

Having just taken delivery of your new car from the dealership the last thing that's going to be on your mind is what happens if you have an accident or if the car is stolen and you find yourself in the position that your insurance company writes off the vehicle. Most people assume (often wrongly) that the insurance payout will be enough to cover the cost of replacing their vehicle like for like, unfortunately when a new car leaves the dealership depreciation is at its highest level and more often than not the amount paid by the insurance firm will be significantly less than the price you paid for your new car, this difference is known as the “gap” or alternatively negative equity. The insurance company will pay you what the vehicle is (currently) worth, and that is not necessarily the same as what you paid for the car, or what you owe on finance (if you financed it).

Every day in the UK more than 200 vehicles are involved in serious accidents.

Over half a million vehicles become a total loss each year.

UK Car Crime is a third of all crime.

A vehicle is stolen every minute, one third of these are never recovered.

Cars seem to be depreciating at a far greater rate than ever before.

Motor Insurance settlements are always less than the price you pay for your car.

You pay the deprecation on your car, not your motor insurer.

Write offs occur all too often, protect yourself and your money.


Return to Invoice GAP Insurance (RTI)

Invoice GAP Insurance is the most popular form of GAP Insurance that is purchased today.

As a result of your car being written off, Invoice GAP Insurance will pay the discrepancy between your Motor Insurance Payout and the amount that you originally paid for the car.

Invoice GAP Insurance is offered to cover New or Used vehicles with a worth of up to 100,000 and is required to be taken out no later than 90 days following delivery of the vehicle.

How does Return to Invoice GAP Insurance work?

If we say you purchase a new car for 19,995.00

Two years later, your Motor Insurance Company declares the vehicle a write off and they only offer you 10,000.00.

As a result of this happening, Invoice GAP Insurance would pay the 9,995 difference between your Motor Insurance payout (10,000) and the original invoice price you paid for the vehicle (19,995).

If the vehicle was purchased by way of a Finance Agreement, in most cases (not all), receiving the total original invoice price back will allow you to clear the outstanding balance of your Finance Agreement and have funds left over to put towards the new vehicle.

(Subject to the overall policy claims limit that you select when you take the policy out)

Tel: 01773 512 806 Hitachi Capital All content supplied and/or approved by G A Finance and Leasing Ltd

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Mind the GAP

You buy a car for £20,000, with a £2,000 deposit and finance the remaining £18,000. A year later the car is stolen or is in an accident and the insurance company writes the vehicle off, you then find out the insurance company is only willing to pay out £12,000 although you still owe £16,000 to your finance company, you now find yourself in the position where you have a £4,000 financial GAP

Tel: 01773 512 806

Don't buy your GAP Insurance from your local dealer.

Buy from an FSA approved and regulated provider and save yourself 's

Policies are underwritten by Hitachi Capital Insurance Europe Ltd