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GAP Insurance FAQs

What is GAP insurance?

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Do I need GAP insurance?

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How are your values calculated?

Our values are calculated using Used Car Expert's prices.

What are the different types of GAP insurance?

All GAP insurance pays out in the event your car is stolen and not recovered or written off in an accident causing your road insurer to make a "total loss" payment. But how the amount paid from the GAP policy is calculated and whether you get a new car varies according to the type of policy.

1) Return to Value Insurance
This GAP policy it pays the difference between what the road insurer pays you and the value of your car when you took out our GAP cover, as agreed with the insurer, according to their valuation and subject to their terms and conditions.
2) Return to Invoice Insurance

This GAP cover pays  the difference between what the road insurer pays you and the original invoice price you paid for your car.

3) Vehicle Replacement Insurance
Vehicle replacement cover is only available on cars that have covered less than 500 miles and are under 3 months old.
The policy will pay the difference between what the road insurer pays you and the cost of a brand new car of the same make, model and specification.  Even if manufacturers prices have increased since your original car was purchased.

What questions should I ask about my level of cover? What are the sneeky terms and conditions that can catch me out?

Here are three questions we recommend asking:

1. Is the road insurers excess included in your GAP quote?
Not all providers automatically pay the excess required on your main road insurers policy and without the insurers excess cover any GAP claim will be paid less this amount.

2. Have you compared the GAP providers policy summaries?
Check their significant benefits and exclusions to ensure you are comparing like for like cover.

3. Are you happy with the claim limit in your quote?
GAP expert has based the quote on your car's market value to ensure a full GAP claim will be covered. But you must check you are happy with the policy coverage.