Gap Insurance
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FAQ's
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Don’t lose out to depreciation. We all know how quickly a vehicle’s value can depreciate, and often by a substantial amount. Regardless of whether you have finance on your vehicle or not, how long you have owned the vehicle or if it was purchased new or second hand, Gap / depreciation insurance is available.

Guarantee the value of your vehicle at today’s market value for up to 3 years. Take out a Gap insurance policy today and if your vehicle is written off due to theft or accidental damage during the policy’s term, you will receive payment for your vehicle at the agreed value (when the Gap insurance policy was taken out).

Example of a 3 year policy:

August 2009
Market Value £12,000

June 2012
Accident

June 2012
Market Value £5,000

Gap Insurance
Payment £7,000

Total Amount
Received £12,000
+
=
Bob has owned his car for 18 months and takes out gap insurance
  

Bob hits tree and car is beyond economical repair
(written off)

  

Bob receives the car's market value of £5,000 from the insurance company

  
Bob receives £7,000
from his Gap Insurance company
(i.e. the difference between the car's market value in August 2009 and June 2012)
 
Bob now has £12,000 to buy another car

Your Excess: If you claim on your Gap insurance you will even receive up to £250 towards your excess.

Acceptance Criteria:

  • Maximum vehicle value £50,000
  • Vehicle must be in Glass's Guide
  • You don't need to have fully compreshensive insurance cover

We offer four levels of Gap insurance cover – £5,000, £10,000, £15,000 and £20,000 – over a 12, 24 or 36 month term. Gap insurance is a lot cheaper than you may think. Click the Quote Me Now for a price.

  

FAQ's

I have an any driver over 25 policy; if a driver has a criminal conviction do I need to tell you about it?

Yes, it is important that you advise us of any criminal convictions, motoring offences, claims or previous accidents that any driver who may drive the vehicle has. Any failure to disclose facts material to the insurance, and any inaccuracies in your answers, could invalidate the cover and could mean that all or part of a claim may not be paid. If you are in any doubt, please contact us for advice.

I have purchased a brand new car – would I benefit from purchasing Gap insurance?

Some motor insurance policies provide ‘new car replacement’ for the first 12 months after purchase, and so if your vehicle is written off during that time you would get a brand new replacement vehicle anyway. If this is the case, you might well decide that Gap insurance is not necessary.


However, if you did purchase Gap insurance at time of purchase of the new vehicle, and the vehicle was written off in the first three years, then you would receive the full ‘new’ value of your vehicle. So, you may decide that Gap insurance is well worth having in addition to ‘new car replacement’.


 

Can I have Gap insurance for my Mercedes Sprinter van?

Any vehicle that is in the Glass's guide can qualify for Gap insurance up to the value of £50,000, which includes commercial vehicles up to 3.5 tonnes.

For more Gap Insurance FAQ's click here or the FAQ button at the top of the page.
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