Which Gap Insurance do you choose?
Confused about Gap Insurance? This is not unusual, as Gap Insurance can be misunderstood and often people simply have never heard of it before. It could also be the case that a motor dealer has used the term 'Gap Insurance', presented you with one type of cover and this leaving you with the impression that there is one and only choice you have.
However, that is normally not the case.
When Motor Dealers talk to you about 'Gap Insurance', it will be nine times out of ten, Return to Invoice Gap Insurance. This can protect you back to the original price you paid for your vehicle from the value of it when it is written off. The maximum duration offered by motor dealers is normally 3 years also. Like your motor dealer, we also offer Return to Invoice, in addition to Vehicle Replacement Insurance, Finance and Contract Hire Gap and Shortfall Gap Insurance.
Which one is right for you?
Which Gap Insurance?
We do understand this question can be a little confusing if you have never come across Guaranteed Asset Protection before. Given a choice of types of cover, which one do you go for?
We have devised a simple system of a series of questions, to narrow down your options by eliminating types of cover that may not apply to you. By clicking for a 'Quote' you will be taken to this section, and by answering each question in turn, you will be guided to a page showing you all applicable type of cover. There may be a number of options, with explanations as to how each type work are laid out in an easy to understand fashion (we hope!).
Alternatively, simply give us a ring and we are happy to take you through the quote process, and discuss with you your options in more detail.
Types of Gap Insurance from EasyGap
When you have looked at the selection of Gap Insurance styles available, we hope that we can make the options a little clearer for you. In brief the four types you may see are:
Finance Gap Insurance - to bridge the difference between the vehicle value and the outstanding finance settlement on Hire Purchase agreement.
Contract Hire Gap Insurance - to protect you between the vehicle market value and the amount required to clear your contract hire lease. .
Return to Invoice - to cover the gap between the vehicle value and the original invoice price you paid.
Vehicle Replacement Insurance - to cover between the vehicle value and the cost of replacing the vehicle with one equivalent to the vehicle you bought in the first place.
Shortfall Gap - to cover between the value of the vehicle and its value on the day you bought the policy. This is another form of Agreed Value Gap.
For more in depth analysis of these types of cover, please refer to there individual pages on the menu above.
There are other more specialist types of cover such as Negative Equity Finance Gap Insurance, Deferred Combination RTI and Taxi RTI and Finance Gap. For more details simply give us a ring. At EasyGap we are only a click or a phonecall away for your Gap Insurance queries.