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If you buy a Gap Insurance policy, then surely all cover is the same? Think again! You can compare two different styles of Return to Invoice policies, even underwritten by the same insurer, and find differences between the levels of cover. Lets look at some examples Gap Insurance differences Lets consider one of the most...
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If you have done the deal for your new car, arranged the finance, got all your paperwork for your part exchange and arranged an appointment with the dealer to pick up your lovely new car, one question remains: When do you buy your Gap Insurance? This largely is governed by the source of the policy. Many motor dealers sell gap...
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As you know this site is concerned about Gap Insurance, as we feel it is an area that can be poorly understood. However, our contributors have a wealth of experience in motor vehicle sales, service, finance and insurance, and we are always happy to give our opinions on a range of subjects should the moment arise. So whilst we...
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Gap Insurance is a subject that some people know very little about ( I have heard suggested that some so called ‘experts’ can be added to this list too!). However, if you count youself amongst the uninitiated, then do not be too hard on yourself, there is little out there to give you a definitive guide, and what is...
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We know there may be plenty to take in when you are looking at a Gap Insurance policy. We have recently looked at the insurance underwriters who actually back the cover, and this is an importnat issue. The insurer is going to authorise your claim, and it is comforting to know they are an expert in the field at least! However,...
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If he had lived, Ayrton Senna would be 52 years old today. However, the legend of Formula 1 passed away at the famous Imola circuit 18 years ago yesterday. The death of a motor racer is not that shocking unfortunately, throughout the history of the sport there have been a large number of fatalities. However, to this day, Ayrton...
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If you have a Gap Insurance policy, does the location of the underwriting insurer matter? Well actually, to some people it might. Some people suggest that you are somehow less protected if the company underwriting your Gap Insurance policy is not based in the UK, however is this actually the case in practise? Gap Insurance...
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Why indeed do traditional motor insurers not offer Gap Insurance? This is a very good question, as you would have thought that the two types of insurance would go hand in hand. They both deal with the value of your vehicle after all, so why does your motor insurer not offer you Gap Insurance along with the other products it...
Around 600,000 vehicle are written off each year, how much can you afford to lose?
More About Our Company
If you are looking to find out all about Gap Insurance, then welcome to GapInsuranceTV!
Our humble website will look to provide you with all the information possible regarding Gap Insurance in the UK. We shall look at the different types and Gap Insurance information, as well as the types of vehicles you can take it for. Also, and improtantly, we will show you where you can buy it from to save yourself your hard earned money!
So What is Gap Insurance?
Gap Insurance, or Guaranteed Asset Protection to give it its full title, is a supplementry type of insurance for your motor vehicle. It can provide financial protection in the vent your vehicle becomes a ‘write off’. This can be by an accident or if the vehicle is stolen.
If this situation happened, your own motor insurance, even if it is ‘fully comprehensive’, may only pay you the ‘market value’ of the vehicle at the time. This may be thousnads short of the original invoice price you paid, the cost of having to replace the vehicle, or even the finance settlement figure you may have to pay.
This is where Gap Insurance can step in. Your Gap policy, depending on the type of cover you have taken, can cover the ‘shortfall’ between your insurers payout and any of the figures outlined above.
Types of Gap Insurance
There are several basic types of Gap Insurance available, and you can find lots of information on each on GapInsuranceTV. Finance Gap Insurance and Contract Hire Gap Insurance is probably the most basic type of Gap cover in the UK today. This simply covers the difference between your vehicle market value and the outstanding finance settlement figure on your agreement. For Contract Hire Gap Insurance, this could mean outstanding rentals.
Return to Invoice, or RTI Gap Insurance can cover between the vehicle market value and the original invoice price you paid. This means that you can protect yourself to your original investment, whether you have paid cash or have a finance agreement on the vehicle.
Vehicle Replacement Insurance, or VRI Gap Insurance is possibly the most comprehensive level of Gap cover available. It will cover betwen the vehicle market value and the cost of replacing the vehicle with the equivalent model. So if you buy a brand new Ford Focus in 2011, and it is written off in 2014, then VRI Gap Insurance can return you to the cost of replacing the vehicle in 2014. This means if the cost of replacing the vehicle goes up, your VRI Gap Insurance policy can cover this for you.
We will also bring you news on all the vehicle types you can get this type of cover for. Whether you have a car, van, motorcycle, motorhome, driving school vehicle or a taxi, you can find Gap cover to protect you today.
So welcome to our site, we hope you find our information useful, as well as our current Price Comparison page, bringing you the latest Gap Insurance premium prices from the leading online brokers. We can help you buy gap insurance for the best price for the best cover.
Welocme to the home of Gap Insurance in the UK!
Read MoreRecent Blog Posts
May 16, 2012 |
Gap Insurance differences
If you buy a Gap Insurance policy, then surely all cover is the same? Think again! You can compare two different...
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When should you buy Gap Insurance?
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Ayrton Senna – the legend lives on
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Gap Insurance underwriters UK or Offshore?
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Why does your motor insurer not do Gap Insurance?
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