Buy 5* Rated EV Gap Insurance With A 30 Day Money Back Guarantee
EV gap insurance covers any difference between your motor insurance settlement figure and the amount you paid for your vehicle, or the amount you still have outstanding on finance (depending on the policy you choose), if your car is declared a 'total loss' or 'write-off '.
Thanks to depreciation, that difference could be thousands, as your car loses value at a quicker rate than your finance repayments, or reduces the value of your car so much you can't replace it 'like-for-like'. EV Gap Insurance will pay that difference, so you don't have to.
Get a 5* Feefo-Rated Gap Insurance quote online today and join thousands of happy customers driving with total peace of mind.
Why Should I Consider EV Gap Insurance?
Currently, electric cars lose, on average, around 50% of their value within three years of ownership. If yours is written off, insurers will often pay the car's value at the time, not what you paid, or still owe, which could amount to thousands, leaving you with a substantial shortfall.
With a car being declared a total loss every 90 seconds in the UK, it’s no surprise that a growing number of drivers are choosing to protect themselves with Direct Gap.
EV Gap Insurance pays the difference between your insurance settlement figure and the amount you paid (or still owe, depending on the policy you choose), with a commitment to settle in just 10 days. With cover for all named drivers and no claim limits on vehicles up to £50K, why not keep yourself protected with Direct Gap?
Why Choose Direct Gap?
- 5 Star Feefo-rated insurance
- 30 Day money-back guarantee
- Unlimited claim limits on vehicles up to £50k
- Free policy transfer on RTI and VRI
- Deferred start date option for new vehicle purchases
- Cover for all named drivers on your policy
- No mileage restrictions
- Policy amendments for registration number and address changes
- Commitment to settle your claim within 10 days
- No additional fees for credit card payments
- Save up to 75% with a specialist policy
EV Gap Insurance | FAQ's | Statistics & General Information
Essentially, the types of gap insurance available for electric cars are the same as petrol, diesel and hybrid vehicles. However, as financing trends for EVs differ slightly, the popularity of each policy type has also changed.
Lease & Contract Hire Gap Insurance: Increasing in popularity as more EVs are being financed on short-term lease options. Lease & Contract Hire Gap Insurance (or 'PCH Gap Insurance') pays the difference between your settlement figure and the amount outstanding on finance.
Return To Invoice Insurance: Pays the difference between your insurance settlement figure and the original invoice price of your vehicle. This option is popular with EVs financed via PCP and HP.
Vehicle Replacement: Vehicle Replacement, or VRI as it's also known, pays the difference between your motor insurance payout and the cost of a 'like-for-like' replacement car.
EVs can be highly susceptible to depreciation, with first-year depreciation rates between 15-35%
Battery life, financial shortfalls from leasing (in particular) and faster levels of depreciation all increase the risk of negative equity, something gap insurance can protect against.
As well as EV gap insurance, Direct Gap offer several other insurance products designed to help you drive with total peace of mind. These include:
- Tyre & Alloy Insurance: Providing cover against accidental and malicious wheel damage.
- Scratch & Dent Cover: Helps keep your electric vehicle in pristine condition and reduces depreciation by repairing minor body damage.