Gap Insurance
At gapinsurancecoverage.co.uk We provide three unique gap insurance products. Our cover provides you with the peace of mind of nowing that the value of one of your most valuble assets is preserved in the event of an accident leading to an insurance claim. Our gap insurance cover meets the difference between the amount paid out by the insurer and the amount insured.
The amount insured will depend on the type of product that you choos. If you need help in understanding gap insurance and the different gap products then take a minte to read our guide to gap insurance.
Back to Value Gap Insurance
Back to value gap insurance does just that. It takes the difference between the amount paid by the insurer and the amount that represents the value of the vehicle when you bought it.
Back to Invoice Gap Insurance
Rather than set the value of the vehicle by the value when the cover was taken out back to invoice gap insurance covers the difference between the invoice value of the vehicle when it was purchased and the amount represented by what the insurance company pays you if you have a cliam.
Finance Gap Insurance
Our streamlined gap quote system means that you won’t be asked questions that are not specifically required in order to provide your quote. Most insurance providers require you to complete long quotation forms before they provide a quote. This enables them to gather information that they can then use and hich has a value to them in the event that you don’t get your insurance with them. We believe that our quotes are about the most competative on the market and therefore we do not need to collect irrelvant information in order to provide you with a gap insurance quote.
No one wants to think about something happening to their vehicle, but the sad truth is that many times accidents do occur or the theft of a vehicle can happen. Comprehensive Motor Insurance will not help you if your car is a total write off or it is stolen. However, that is what Gap Motor Insurance is designed to do. It takes the worry out of purchasing a vehicle and being left with a hefty payment if something happens to it. This type of insurance bridges the gap between what your normal insurance policy pays and the amount you may still owe on the car.
How does gap insurance work?
If something should happen to your car before it is paid off you will only see the amount of its worth at the time of the accident or theft. This could mean that the insurance company will reimburse you for far less than you may still owe on it. Without Gap Motor Insurance you may not even be able to replace the vehicle you lost plus owing the debt on the other car. What this means to you is that you will have to come up with the difference out of your own finances.
To put it in perspective the third largest crime in the UK is car theft. Because one vehicle is taken every minute the odds are higher that it could happen to you or someone in your family. Statistics show that approximately thirty three percent of the cars are never found. For thos still asking themselves how does gap insurance work read our guide to Gap Insurance.
