Does Gap Insurance Cover Theft?

Does Gap Insurance cover theft of my vehicle? & Does Gap Insurance cover theft of my vehicle with the keys?

This question along with many others regarding Gap Insurance, can be answered by asking 'does your comprehensive vehicle insurance cover theft?'

Of course, you would assume that all insurance covers theft, however, there are some exceptions.

Theft that occurs due to negligence will not be covered by Gap Insurance, as your own comprehensive cover would not cover such a circumstance.

For example, if you leave the keys in the ignition of your vehicle and it was then stolen, you are likely to have been 'negligent' in the eyes of your insurance company. Therefore, neither your gap insurer or comprehensive vehicle insurer are likely to pay out a settlement.

If you are unfortunately burgled, your bag stolen and the thieves gain your keys, your own motor insurance company would pay out and the gap insurance would follow suit.

This question actually explains the premise of Gap Insurance, in that if your own comprehensive insurer pays out a claim, the gap insurance would follow suit. Gap Insurance is only triggered by a successful claim on your comprehensive motor insurance so in queries regarding cover, always ask yourself, 'would my own insurance cover that?' If the answer is 'yes' then it is likely that the Gap Insurance would cover it too.

Does Gap Insurance cover theft? Yes just like your motor insurance, providing it is not due to your negligence.

An article published on 06/04/2010 has highlighted that the top ten most desirable vehicles to be targeted by car thieves during 2010. In top position was the BMW X5 with the BMW X3 in third position. In 2018, not much has changed as both of the larger BMW models feature along with the likes of the Audi Q range of models.

The article has also highlighted a worrying statistic in that 84% of vehicles stolen are now done so with the use of the keys.

You will be relieved to know that our gap insurance policies do cover you, if your vehicle is stolen with the use of the keys, providing this is not as a result of negligence (just like your own motor insurance). These statistics illustrate that protecting your vehicle with gap insurance has never been more important.