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Don't lose out if your vehicle is written off through accident, fire or theft.

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What Is GAP Insurance?

GAP Insurance is an optional insurance that steps in to cover the shortfall in the payout from your Motor Insurer in the event that your vehicle is written off.

If, as a result of accident, fire, theft or flood, your Motor Insurance company declare your vehicle to be a Total Loss (they "write it off") they will pay you the Market Value of the vehicle at the time of the incident which led to the Total Loss claim. This "Market Value" payout could be considerably lower, than either the original price you bought your vehicle for, or if you originally bought a brand new vehicle, the cost of replacing the vehicle with a new one at the time of claim or, if your vehicle was the subject of a Contract Hire agreement, it could be lower than the amount you'd need to pay to settle the remaining balance due under the agreement..

GAP Insurance aims to pay the difference between your Motor Insurance payout and either:

  • the higher of either the finance agreement settlement figure (where applicable) or, the original price you bought the vehicle for (Invoice GAP Insurance), or
  • the higher of either the finance agreement settlement figure (where applicable) or, the original invoice price you bought the vehicle for or, the cost of replacing the vehicle with a brand new version of the same (or nearest equivalent) vehicle at the time of loss (Replacement GAP Insurance), or
  • the amount required to settle the remaining balance of your Contract Hire agreement (Contract Hire GAP insurance).

Invoice & Replacement GAP insurance can be customised further to cover up to £2,000 of Negative Equity brought forward from your part-exchange. Whilst Contract Hire GAP insurance can be customised further to ensure that at the time of any claim you're reimbursed up to £3,000 of the initial rental that you paid when you started your lease agreement.

New! Top-Up GAP insurance As an alternative, we also now have Top-Up GAP insurance available, which aims to top up your Motor Insurance payout by up to an additonal 25%.

Within the overall policy claim limit, all policy types will also cover up to £250 towards any excess payable to your Motor Insurer as part of a Total Loss (write-off) claim.

Where do we cover?

We have policyholders all over the UK. See for yourself here:

A Map Of UK Policyholders

Cover Statistics

£739,512,727.64
(Total value of vehicles covered)

£2,577,742.18
(Total value of paid claims)

£48,859.00
(Largest claim to date)

£6,460.51
(Average claim payout)

The map: shows the postcode areas in which we have GAP Insurance policyholders. The "Total value of vehicles covered" is displayed in real-time. "Total value of paid claims", "Largest claim to date" and "Average claim payout" are derived from claim statistics which are updated once-per-month.

Top-Up GAP insurance: NEW!Top-Up GAP Insurance

A 1-year long annually renewable GAP insurance policy available for a vehicle up to 8-years old, worth up to £80,000.

It could be a vehicle you bought cash outright, via finance or a vehicle you leased. It could be a vehicle you bought from a motor dealer or a private seller.

It could be a vehicle for which your existing GAP insurance policy is about to expire or, a vehicle that you were expecting to dispose of at the end of your original finance agreement but, you're now keeping for a longer period and you need GAP insurance for that extended period.

If your vehicle is written off, Top-Up GAP insurance aims to top-up your Motor Insurance payout by up to 25%, It will even cover up to £250 of any excess payable to your motor insurance company as part of the Total Loss (write off) claim too!

See more info about Top-Up GAP Insurance.

How Top-Up GAP insurance works

Contract Hire GAP Insurance

Many people don't realise that if their leased (Contract Hire) vehicle is written off (through accident, fire, theft or flood), after their Motor Insurance policy has paid out the then 'market value' of the vehicle (a sum of money which would normally be paid directly to the finance company), they could still be liable for anything up to the entire sum of all rentals due to the end of the original contract term.

If you're a month from the end of your contract term, this probably wouldn't phase you *too* much but, what about if you're only just one month in to your say, 3-year contract? Can you afford to pay a sum of money equal to anything up to ~35 times your monthly rental figure AND have money spare to fund a new vehicle too?

This is where Contract Hire GAP insurance steps in. If your leased vehicle is written off, this type of cover will aim to pay the difference between your motor insurance payout and the settlement figure (aka 'Early Termination Fee') of your Contract Hire agreement.

You can also add-on cover that will see that you're reimbursed up to £3,000 of any initial rental that you paid when you started your lease agreement. A helping hand we're sure, in terms of funding your next vehicle.

It's available for a vehicle that (at the time of purchasing the policy) is less than 8 years old, that you took delivery of within the last 6 months, with a P11d value of up to £150,000. Cover can be arranged for 1 to 5 years.

See more info about Contract Hire GAP Insurance.

How Invoice GAP insurance Works

Invoice GAP Insurance

This type of GAP Insurance policy is the most popular form of GAP Insurance.

If you bought your vehicle (cash, HP, PCP etc) Invoice GAP Insurance aims to pay the difference between your Motor Insurance payout and THE GREATER of either,

  • The amount (if any) outstanding on finance at the time of claim EXCLUDING any Negative Equity brought forward from a previous vehicle (unless the optional "Negative Equity Cover" was purchased), OR
  • The ORIGINAL PURCHASE PRICE that you paid for your vehicle first time around.

It's available for vehicles that (at the time of purchasing the policy) are less than 8 years old, that were bought from a VAT Registered Motor Dealer, within the last 90 days, for a purchase price of up to £200,000.

Claim Limits range from £5,000 to the full original purchase price of your vehicle and durations from 1 to 4 years are available.

How Replacement GAP insurance Works

Replacement GAP Insurance

GAP insurance policies don't come much better than this.

Replacement GAP insurance is the highest level of GAP insurance cover available today. It's a combination of the three main types of GAP insurance: Finance GAP insurance, Invoice GAP insurance and Replacement GAP insurance - which means it provides the best of all cover levels.

In the event of your vehicle being declared a Total Loss (written off) through accident, fire, theft, or flood, Replacement GAP insurance aims to pay the difference between your Motor Insurance payout and THE GREATER OF either:

  • The amount (if any) outstanding on finance at the time of claim EXCLUDING any Negative Equity brought forward from a previous vehicle (unless the optional "Negative Equity Cover" was purchased), OR
  • The ORIGINAL PURCHASE PRICE that you paid for your vehicle first time around, OR
  • The cost of REPLACING YOUR VEHICLE with a brand new version of the same (or nearest equivalent) as your original vehicle - even if the replacement vehicle cost is MORE than you bought the vehicle for first time around.

It's available for vehicles that (at the time of purchasing the policy) are less than 3 months old, that were bought from a VAT Registered Motor Dealer, within the last 90 days, for a purchase price of up to £150,000.

Claim Limits range from £5,000 to the full original purchase price of your vehicle and durations from 1 to 4 years are available.