If your vehicle is stolen or written off after an accident it is likely that your motor insurer will only pay the current market value for your vehicle. This amount could be less than what you still owe to your finance company and will be less than the amount you originally paid for your vehicle.
GAP insurance pays the difference from the insurance payout so you are not left out of pocket.
We provide a range of GAP covers that can meet most requirements.
Example: You purchased a vehicle for £25,000 and it is written off after 18 months. Your motor insurers pay you £20,000. To replace your vehicle for a new one you need to find £5,000. Combined Purchase Price Protection & Finance GAP could pay you the missing £5,000.
*Purchase Price Protection provides cover for up to a maximum of 3 years from the purchase date of your vehicle. Terms and Conditions apply. All policies are administered by Jackson Lee Underwriting, a trading name of Virtual Insurance Products Ltd. Authorised and regulated by the Financial Conduct Authority (307038).
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