Gap Insurance
from Direct Gap

Should I buy Gap Insurance?

Gap Insurance may not be suitable for everyone, but it could be more than worthwhile if:

• The car you bought is due to depreciate quickly. If you were to suffer a total loss, its value may be dramatically reduced from the point of purchase, meaning your motor insurer’s pay-out would leave you with a significant cash shortfall and you’d be unable to replace the vehicle on a new-for-old basis.
• You’re on a long-term contract hire. If you’re paying back your debt slowly, the payment you receive from your motor insurer following a total loss may not be enough to cover the amount you owe to the hire company.
• You owe a balloon payment. Sometimes, the details of your finance deal might mean you are left with a large lump sum to pay to the hire company at the end of the agreement. This is known as a balloon payment and taking out a Gap Insurance policy can help you to cover this without falling into financial difficulty.

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What are the different types of Gap Insurance?

Here at Direct Gap, we pride ourselves on our ability to offer a tailored Gap Insurance policy that’s perfectly suited to you and your needs. To that end, we offer a range of different products designed to meet your specific requirements:

• Finance/Contract Hire: If your vehicle is declared a total loss, this type of Gap Insurance will pay the balance between your motor insurer’s settlement and the amount you have left to pay on your finance agreement. It includes all drivers on your policy, you can be covered for one to five years and it also provides protection of any factory fitted options you may have added to the vehicle.
• Return to Invoice +: Should your car be written off in an accident or stolen, our Return to Invoice + policy will pay the difference between the settlement you receive from your motor insurer and the amount you paid for the car in the first place. This policy is applicable to both new and used cars, is transferrable free-of-charge and we also offer a 30-day money back guarantee.
• Vehicle Replacement +: With this policy, our pay-out will cover the difference between your insurer’s settlement at the point of total loss and the cost of a replacement vehicle matching the cars original specifications. Our Vehicle Replacement + policy will cover any dealers discounts as well as any increase in the cars list price.
• Agreed Value: Should your car be declared a total loss, our Agreed Value Gap Insurance will pay the difference between your motor insurer’s settlement and 100% of the Glass’s Guide retail price at the time you bought the policy. Our Agreed Value insurance provides cover for one to four years, is transferrable for free and protects you if your vehicle is lost through the theft of your keys.

Are there any exclusions?

There are some circumstances in which your Gap Insurance would not cover you, or in which you would be unable to take out the policy in the first place. These include:

• Driving under the influence: If the total loss of your car is caused by the driver of your vehicle being under the influence of drugs, alcohol or prescribed medication (where the person in question has been advised against getting behind the wheel by a medical professional), your Gap Insurance policy will be void.
• Negligence: If your car is stolen due to negligence on your part, for example if you leave the keys in the vehicle, your Gap Insurance will not cover you.
• Hire and reward schemes: If you are a taxi driver, haulier or courier, for example, our Gap Insurance products will not be applicable to you.
• Vehicle age and mileage: Any car over 10 years old or with more than 100,000 miles on the clock at the time of purchase will not qualify for Gap Insurance.