Buy Invoice GAP insurance Today

Cover all of your original invoice price in the event of write-off.

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What is Invoice GAP insurance?

Invoice GAP insurance is the most commonly purchased type of GAP insurance in the UK today (primarily because it's usually the highest level of cover offered by Motor Dealers). It's a combination of both Finance GAP and Invoice GAP insurance, thereby providing the best of both cover types.

In the event of your vehicle being declared a Total Loss (written off) through accident, fire, theft or flood, Invoice GAP insurance aims to pay the difference between your Motor Insurance pay-out 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.

Am I Eligible For Invoice GAP insurance

You can buy Invoice GAP insurance to cover a New or Used car that:

  • Is covered by a comprehensive motor insurance policy.
  • You are the owner or registered keeper of.
  • Is less than eight (8) years old at the start date of this policy.
  • You have not yet taken delivery of or, you took ownership/delivery of within the last 3 months.
  • You have NOT changed in any way from the vehicle manufacturer's standard specification, unless the vehicle has been modified for mobility purposes. This would include changes to the bodywork, such as spoilers or body kits, changes to the suspension or brakes, and changes affecting performance such as engine management. Graphics applied to your vehicle are acceptable.
  • Has not previously been declared a Total Loss and is not already the subject of a previous incident or existing motor insurance claim which could yet result in it being declared a Total Loss.
  • Is registered in the UK.
  • Was bought for no more than £200,000.
  • Is not a commercial vehicle.
  • Is not being used for rallying, racing, any competitive events or for emergency use or hire (including private hire, taxis and chauffer) or for driving school tuition.
  • Is not already covered by a GAP insurance policy.
  • Was bought cash outright, personal loan (secured or not), or financed by way of a HP, PCP or Conditional Finance Agreement.
  • Is not a specifically excluded vehicle.
  • Is not a van, car derived van, motorcycle, motorhome or campervan.

So long as you:

  • Are a permanent resident in the UK or a UK registered company.
  • Bought the vehicle from a VAT registered motor dealer.

You can NOT buy Invoice GAP insurance for a vehicle that:

  • Is not covered by a comprehensive motor insurance policy.
  • You are not the owner or registered keeper of.
  • Is more than eight (8) years old at the start date of this policy.
  • You took ownership/delivery of more than 3 months ago.
  • You have changed in any way from the vehicle manufacturer's standard specification, unless the vehicle has been modified for mobility purposes. This would include changes to the bodywork, such as spoilers or body kits, changes to the suspension or brakes, and changes affecting performance such as engine management. Graphics applied to your vehicle are acceptable.
  • Has previously been declared a Total Loss or, is already the subject of a previous incident or existing motor insurance claim which could yet result in it being declared a Total Loss.
  • Is not registered in the UK.
  • Was bought for more than £200,000.
  • Is a commercial vehicle.
  • Is used for rallying, racing, any competitive events or for emergency use or hire (including private hire, taxis and chauffer) or for driving school tuition.
  • Is already covered by a GAP insurance policy.
  • Is the subject of a Contract/Lease Hire Agreement.
  • Is a van, car derived van, motorcycle, motorhome or campervan.
  • Is a specifically excluded vehicle.
How Invoice GAP insurance Works

How does Invoice GAP insurance work?

In the event of your vehicle being declared a Total Loss (aka "written off") as a result of an accident, fire, theft or flood, your comprehensive Motor Insurance policy would normally only pay out the market value of the vehicle at the time of loss.

Now, imagine that you'd bought the vehicle two years ago for £22k, and imagine that the current Market Value of the vehicle is only £10k.

If your Motor Insurance policy only pays you £10k, you're only going to be able to buy a vehicle of the same age, mileage and condition as the one that was written off at the time it was written off.

Invoice GAP insurance would, in this example, pay the £12k difference between the Motor Insurance pay-out and the £22k you originally bought the vehicle for, or (if higher) the difference between your Motor Insurance pay-out and the amount outstanding on finance at the time of loss.

Key Features of Invoice GAP insurance

  • A combination of Finance and Invoice GAP Insurance - covering up to the greater of either the outstanding finance at the time of claim or the original invoice price.
  • Available for Cars up to 8 years old, purchased within the last 3 months from an authorised dealer or finance house.
  • NO Market Value clauses.
  • Ability to cancel the policy at any time and receive a daily pro-rata refund of unused premium (a cancellation fee may apply).
  • CASH payout to you rather than to a nominated dealer, leaving you free to choose the provider of your replacement vehicle.
  • Available for Cars bought for up to £200,000.
  • OPTION to include cover for up to £2,000 of negative equity brought forward from your previous vehicle.
  • Underwritten by DTW 1991 Underwriting Limited on behalf of Syndicate DTW1991 at Lloyd's.
  • Pays up to £250 towards the excess on your Comprehensive Motor Insurance policy.
  • FREE transfer of any unused premium on to a new policy on a replacement vehicle
  • NO right to revalue the purchase price of your vehicle at the time you bought it.
  • Policy durations of up to 4 years available.
  • Claim Limits of up to £75,000 available.
  • FREE policy amendments.

What claim limit do I need?

Our Underwriters automatically set the Claim Limit (the maximum the policy will pay out on top of your motor insurance pay-out) at the same level as the invoice value of the vehicle (up to a maximum of £75,000), so there’s likely to be plenty of cover available in the event of a claim.

If you need any help with this, please do get in touch.

Ten recent Invoice GAP insurance claims

Mercedes-Benz S-Class

Mercedes-Benz S-Class
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
June 2019
£90,000
July 2020
£13,000
Length of ownership:
13 Months
Rate Of Depreciation:
An average of £1,000.00 per month
Total Depreciation:
14.44% of its original Invoice Price during the 13 months it was owned.
Policy Cost:
The policy cost £330.00 (just 2.54% of the amount the policy paid out.)

BMW 3 Series

BMW 3 Series
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
December 2019
£15,990
June 2020
£250
Length of ownership:
6 Months
Rate Of Depreciation:
An average of £41.67 per month
Total Depreciation:
1.56% of its original Invoice Price during the 6 months it was owned.
Policy Cost:
The policy cost £146.78 (just 58.71% of the amount the policy paid out.)

Alfa Romeo Giulia

Alfa Romeo Giulia
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
June 2018
£39,259
June 2020
£15,774
Length of ownership:
24 Months
Rate Of Depreciation:
An average of £657.23 per month
Total Depreciation:
40.18% of its original Invoice Price during the 24 months it was owned.
Policy Cost:
The policy cost £182.51 (just 1.16% of the amount the policy paid out.)

BMW X5

BMW X5
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
March 2017
£19,385
April 2020
£6,295
Length of ownership:
37 Months
Rate Of Depreciation:
An average of £170.14 per month
Total Depreciation:
32.47% of its original Invoice Price during the 37 months it was owned.
Policy Cost:
The policy cost £108.46 (just 1.72% of the amount the policy paid out.)

Land Rover Range Rover Sport

Land Rover Range Rover Sport
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
September 2019
£67,157
April 2020
£11,246
Length of ownership:
7 Months
Rate Of Depreciation:
An average of £1,606.57 per month
Total Depreciation:
16.75% of its original Invoice Price during the 7 months it was owned.
Policy Cost:
The policy cost £392.09 (just 3.49% of the amount the policy paid out.)

BMW X5

BMW X5
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
May 2017
£39,500
April 2020
£14,869
Length of ownership:
35 Months
Rate Of Depreciation:
An average of £424.83 per month
Total Depreciation:
37.64% of its original Invoice Price during the 35 months it was owned.
Policy Cost:
The policy cost £141.32 (just 0.95% of the amount the policy paid out.)

Mercedes-Benz E Class

Mercedes-Benz E Class
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
February 2018
£41,000
March 2020
£9,270
Length of ownership:
25 Months
Rate Of Depreciation:
An average of £370.80 per month
Total Depreciation:
22.61% of its original Invoice Price during the 25 months it was owned.
Policy Cost:
The policy cost £201.01 (just 2.17% of the amount the policy paid out.)

Vauxhall Astra

Vauxhall Astra
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
August 2017
£18,730
March 2020
£7,970
Length of ownership:
31 Months
Rate Of Depreciation:
An average of £257.10 per month
Total Depreciation:
42.55% of its original Invoice Price during the 31 months it was owned.
Policy Cost:
The policy cost £151.51 (just 1.90% of the amount the policy paid out.)

Ford Fiesta

Ford Fiesta
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
November 2017
£17,000
February 2020
£7,104
Length of ownership:
27 Months
Rate Of Depreciation:
An average of £263.11 per month
Total Depreciation:
41.79% of its original Invoice Price during the 27 months it was owned.
Policy Cost:
The policy cost £125.76 (just 1.77% of the amount the policy paid out.)

Ford Fiesta

Ford Fiesta
Vehicle Purchased
Invoice Price
GAP Claim
GAP Payout
January 2018
£10,100
February 2020
£2,099
Length of ownership:
25 Months
Rate Of Depreciation:
An average of £83.96 per month
Total Depreciation:
20.78% of its original Invoice Price during the 25 months it was owned.
Policy Cost:
The policy cost £103.61 (just 4.94% of the amount the policy paid out.)