How can we help you?
If you’re new to GAP insurance or looking to find the best product for you, you’ve come to the right place. Here are our most frequently asked questions to help you learn more about GAP insurance and why you should choose GAPInsure. If we still don’t answer your query here, please give one of our friendly, expert advisors a call on 0800 138 8333.
If the unexpected happens and your car is stolen or written off, GAP insurance ensures you’re not left out of pocket, by covering the difference between the amount your insurer pays out and the price you paid for it or owe on your car if you have finance. Your insurer will only pay for the value of your car at the time of your accident or when it was stolen, not its original value. If you’re paying for your car on finance, this money should be used to pay off the remaining balance. But if the amount remaining on the finance is more than the payout, you’ll be left with a shortfall, leaving you struggling to pay for the full value and with no car. That’s why Guaranteed Asset Protection (GAP) insurance closes the gap for you, by covering the difference between the amount your insurer pays out and the price you paid for it.
GAPinsure.com is proud to be the UK’s first mainstream GAP insurance provide to GAP insurance for a Hire & Reward customers. Designed for individuals and businesses that use their vehicles to transport people or goods in exchange for payment.
GAPinsure.com’s single payment Return to Invoice GAP Insurance covers electric vehicles as standard and we are currently working on a monthly gap insurance product for E.V.s
The single payment Return to Invoice GAP insurance policy is underwritten by Fortegra Europe Insurance Company SE and offers the following benefits if you have total loss claim:
– Total Loss Excess Cover – maximum payment of £500
– Total Loss Temporary replacement vehicle cover for up to 30 days
– pay out will be the greater of:
A) Return to Invoice Gap: The amount by which the Purchase Price exceeds the Insured Value.
OR
B) Financial Shortfall Gap: The amount by which the Finance Agreement Settlement Figure (if any) exceeds the Insured Value.
OR
B) The amount equal to the premium You have paid for this Policy.
– Return to Invoice Advanced: You apply for cover up to 90 days after your vehicle has been delivered to you, or your finance agreement has commenced, whichever is earlier.
– Contract Hire: You apply for cover up to 90 days after your vehicle has been delivered to you or your contract hire agreement has commenced, whichever is earlier.
Return to Invoice Monthly & Return to Invoice Motorbike GAP Insurance
Return to Invoice monthly gap insurance and Return to Invoice Motorbike Gap insurance are underwritten by Arch Insurance (UK) Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FCA reference number 229887. Registered Office 5th Floor, 60 Great Tower Street, London EC3R 5AZ. Registered in England and Wales: No. 04977362
This policy is administered by Global Insurance Management Limited in its capacity as the agent of Arch Insurance (UK) Limited. Global Insurance Management Limited is authorised and regulated by the Financial Conduct Authority.
Return to Invoice Single Payment GAP Insurance
The 12, 24, 36 & 48 month Return to Invoice Single payment GAP Insurance products are underwritten by Hiscox Underwriting Limited on behalf of Hiscox Insurance Company , who are authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority under Firm Reference Number 113849. which is registered in England, Registered office 22 Bishopsgate London EC2N 4BQ United Kingdom, Registered Number 00070234
If you have bought your vehicle from a private seller, we require a VAT invoice for you to be eligible for our policy.
Our policies do not cover finance carried over from a previous agreement or any outstanding finance carried over from a previous credit agreement, including cashback.
The insurers of all GAPInsure policies are regulated by the Financial Conduct Authority and your policy is protected under the Financial Services Compensation Scheme.
– If your car insurer refuses your claim for any reason then the GAP insurance cannot settle.
– Any claim where your motor insurance policy offers to provide a replacement vehicle as settlement of your claim, whether you accept it or not.
– Any claim where the motor insurance policy provider has offered to repair the vehicle but you have requested the claim to be dealt with on a total loss basis.
It is your resposibility to review the policy wording and products and choose what is right for your demands and needs. However our team are on help on 0800 138 8333 if you need to discuss anything.
The applicant for the GAP policy should be the owner or registered keeper of the vehicle and insured by a comprehensive motor insurance policy covering damage, fire and theft, issued by an insurer authorised in the UK.
The following vehicles and uses are excluded from cover provided under this policy.
Vehicles:
– Modified from the manufacturer’s specification.
– Not designed and manufactured to UK specification.
– Which include any experimental equipment, whether or not supplied by the manufacturer.
– Owned temporarily or otherwise by a lease company or business formed for the purposes of selling or servicing motor vehicles.
– Designed to carry more than eight people including the driver.
– Over 3500kg gross weight.
– Which are classified as non-passenger cars, motor caravans, caravans, kit cars or replica cars.
– Specifically designed for primary sale in Northern, Southern and Central America.
– Powered by rotary engine, hydrogen fuel cell, Liquid Petroleum Gas (LPG), Compressed Natural Gas (CNG).
– With a market value of less than £2,500 at the date of commencement of this policy.
– Over 10 years old or have travelled more than 80,000 miles at the date of inception.
– Which have previously appeared on the total loss register.
You can see our comprehensive list of excluded vehicles or call on 0800 138 8333 for more information.
Any vehicle used for competition, trial (other than treasure hunts), track days, rally, racing, green laning, pace making or off road use. Any vehicle used for hire or reward, transportation of goods, driving school, delivery courier and emergency or recovery services.
Any named driver on your comprehensive motor insurance policy will be covered by your GAP policy when driving your vehicle. Anyone driving your vehicle on a temporary or short term insurance policy, or on their own motor insurance policy, will not be covered by your GAP policy.
GAPInsure.com is a trading style of Sat Insure Ltd and who provide the direct debit facility for you GAP Insurance policy.
GAPInsure policies exclude accessories other than manufacturer approved dealer or factory-fitted accessories. If you are unsure then give one of the team a call on 0800 138 8333 and we’ll be happy to chat through it with you.
GAPInsure.com’s Return to Invoice Advance Gap policy covers light commercial vehicles up to 3500kg gross weight. It’s worth noting that any vehicle used for hire or reward, transportation of goods, driving
school, delivery courier and emergency or recovery services are currently not eligible.
Yes we do! We are the only online provider to ofer Hire & Reward GAP insurance. Our GAP insurance for taxis tailored for those who use their vehicles predominantly as a taxi or prviate hire.
Our policy excludes, but is not limited to, motor insurance, servicing and maintenance plans, paint protection, warranty, payment protection, recovery, road fund license and accessories other than manufacturer approved dealer or factory-fitted accessories, or any outstanding finance carried over from a previous credit agreement including cash back.