Motorbike GAP Insurance
If the unexpected happens and your motorcycle is stolen or written off, motorbike 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 you motorbike, or owe on your motorbike if you have finance.
Your insurer will only pay for the value of your motorbike at the time of your accident or when it was stolen, not its original value. If you’re paying for your motorbike on finance, this money should be used to pay off the remaining balance.
If you’re looking for Motorbike GAP insurance for your Harley Davidson, Triumph, Suzuki, Yamaha or countless other makes & models – get your quote today!
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If you have any questions please get in touch on 0800 138 8333
Gap Insurance for Motorcycles pays you the difference between what your insurer will pay out in the event of your bike being written off or stolen and the original amount you paid for it OR the amount you owe to a motorbike finance company.
It’s not a legal requirement to use the GAP payout to pay the finance, but it’s worth remember you still need to pay the finance back at the end of your finance agreement and 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 motorbike.
This is where motorbike gap insurance comes in. Motorbike gap insurance will pay the difference between the market value of your motorcycle and the amount you still owe on your loan. This will help to protect you from being financially responsible for the remaining balance on your loan if your motorcycle is declared a total loss.
Motorbikes can be written off more easily than cars, and you could find that even a small accident could result in your bike being written off. If you bought a £20,000 Harley-Davidson with £18,000 finance, your insurance company could value the bike at around £13,000. Bike GAP would cover this shortfall to make sure you are not out of pocket.
GAPinsure.com are proud to offer Motorbike Gap Insurance product that’s rated 5 Star by Defaqto meaning it’s one of the most comprehensive on the market.
GAPinsure.com are proud to offer Motorbike Gap Insurance product that’s rated 5 Star by Defaqto meaning it’s one of the most comprehensive on the market.
This insurance is designed to pay for the financial shortfall between the amount you receive from your motorcycle
insurance policy in the event of your motorcycle being a total loss following damage, fire or theft in the UK and the greater of the following:
The amount you originally paid for the motorcycle up to the total claim limit as shown in the policy schedule
or
The outstanding balance amount you require to settle your finance agreement.
Up to the total claim limit shown in the policy schedule excluding any amount financed above the original purchase
price of your motorcycle.
Subject to the conditions and exclusions set out in this policy, you are covered up to the total claim limit as shown on your policy schedule
More motorcycles are stolen in the UK than are bought new, and it takes on average 20 seconds to steal a motorcycle worth £10,000. Our products not only protect you if you have an accident but also if your beautiful new bike is targeted by thieves, provided that all locks and alarms are activated when it’s stolen.
GAP insurance may be worth the cost if you’re concerned about not getting the original value of your bike back if it’s written off by your insurer. You might find GAP insurance is particularly valuable if your motorcycle is on a finance agreement or you have outstanding payments on a personal loan. This could mean you end up paying finance instalments on a bike that’s not even on the road anymore. But the finance company may also insist you pay off the loan entirely. You may never need to make a claim on your insurance for a total loss, but a policy from GAPInsure.com can give you peace of mind that you will get enough of a pay-out to purchase a new bike to replace yours in the event it is destroyed or stolen.
Unfortunately we currently do not offer GAP insurance cover for electric motorbikes, or e-scooters.
Unlike many insurers, we don’t charge a fixed sum upfront. With us, you can pay in equal monthly amounts by Direct Debit. It’s just one more way that we’re making GAP insurance simple, quick and easy. We understand that you need flexibility, which is why we are one of the few insurance providers to offer the ability to pay in a single payment or spread your payments.
Subject to exclusions this insurance covers the amount by which the original purchase price (as defined in the policy wording) exceeds the higher of:
1. The insurance settlement you receive from your motorcycle insurance policy following the total loss of the motorcycle in the UK, or
2. The market value of your motorcycle following the total loss of the motorcycle in the UK.
This policy will contribute up to a maximum of £500 towardsyour Motor Insurers Excess (if deducted from your Insurer’s total loss settlement)
You can pay in equal monthly amounts by Direct Debit.
What is Not Covered
Any claim that occurs when your motorcycle is not covered under a comprehensive policy of motorcycle insurance,
covering damage, fire and theft, issued by an insurer authorised in the United Kingdom. Unless you have third party motorcycle insurance and you have recieved a total loss settlement from either your insurer or third party’s insurer.
Any claim where your motorcycle insurance policy offers to provide a replacement motorcycle as settlement of your claim, whether you accept it or not.
Your motorcycle is included under the section entitled Excluded Motorcycles.
Claims arising as a result of using the motorcycle for any of the Excluded Motorcycle Uses.
Any claim where you accept an offer of settlement without first contacting the claims office, we will settle your claim using the market value.
Any additional costs shown on the motorcycle invoice for anything other than the purchase of your motorcycle.
This includes but is not limited to, motorcycle insurance, servicing and maintenance plans, paint protection, warranty, payment protection, recovery, road fund licence 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.
Any amount deducted by your motorcycle insurance policy provider in respect of but not limited to salvage, excess (please refer to policy wording), wear and tear or any damage previously sustained to the motorcycle in any incident not resulting in the motorcycle being declared a total loss.
Any outstanding finance carried over from any previous finance agreement or any other costs added to the finance agreement for anything other than the purchase of your motorcycle.
Any amount in respect of refinancing, or extending the finance on your motorcycle after the inception of cover.
Any replacement, loss, damage or liability which may be claimed on a more specific insurance.
Any claim that occurs where you are not the legal owner of the motorcycle.
Any claim where the motorcycle insurance policy provider has offered to repair the motorcycle but you have requested the claim to be dealt with on a total loss basis.
Any total loss by accident where the driver of the motorcycle is under the influence of alcohol, drugs not prescribed by a registered medical practitioner or drugs prescribed by a registered medical practitioner where a warning against driving has been given.
Any costs for dealer fitted manufacturer approved accessories, warranty, paint protection, upholstery protection
kits or road fund licence that are not included on the motorcycle invoice.
Wear and Tear.
The policy will end on payment of a valid claim
You are eligible for this insurance, provided at inception and during the period of insurance your motorcycle:
Is a motorcycle.
Is designed and manufactured to UK specification.
Is permanently registered in the United Kingdom.
Is insured by a comprehensive motorcycle insurance policy covering damage, fire and theft, issued by an insurer
authorised in the United Kingdom.
Is not included under the section entitled Excluded Motorcycles.
Is not used for any of the uses specified in the Excluded Motorcycle Uses section.
Has never appeared on the total loss register.
Has a minimum value of £2,500 at the date of commencement.
The UK’s motorcycle market is revving its engine for a thrilling ride in 2024. After a brief dip in 2023, sales are projected to climb, reaching an estimated 122,600 units by 2028.
This resurgence is fueled by several factors, including:
– Shifting priorities: Post-pandemic desire for outdoor activities and a renewed focus on personal wellbeing makes motorcycling an attractive option.
– Expanding electric scene: With a growing range of stylish, powerful electric motorcycles entering the market, eco-conscious riders are finding their perfect match.
– Rise of adventure seekers: The popularity of adventure touring and off-road riding is surging, with manufacturers catering to this demand with rugged, versatile machines.
Accessible entry points: Affordable scooters and smaller motorcycles are attracting new riders, diversifying the market and boosting overall numbers.
With a rich heritage, stunning landscapes, and a thriving motorcycle community, the UK is perfectly positioned to capitalize on this upward trend. Whether you’re a seasoned rider or a curious newcomer, the open road awaits. Grab your helmet, choose your steed, and experience the unparalleled freedom of two-wheeled adventure.
Get quote for your Motorbike GAP Insurance online in less than a minute. We also have a team of friendly GAP insurance experts who are free to help on 0800 138 8333 should you have any questions
