Transferable Vehicle Replacement / Finance Shortfall Gap Insurance +
In the event of your vehicle being declared a total loss, vehicle replacement gap insurance will pay the difference between the motor insurers settlement and the cost of a replacement vehicle matching the original vehicle specification.
If you purchased your vehicle under a finance agreement (except where the policy is transferred) and the outstanding finance balance at the point of total loss is greater than the replacement vehicle cost, this total loss gap insurance will pay the difference between the vehicle value at the point of total loss and the outstanding finance balance.
Cover will include up to a maximum of £250 motor insurance excess.
- Covers New & Used Cars
- Cover from 1 to 5 years
- Covers Dealers Discounts
- Covers Increase in Car List Price
- Unlimited Claim Limits on vehicles up to £50k
- Covers Insurance Excess Up To £250
- Covers all drivers on your insurance policy
- Free Transferable Cover
Vehicle Retail Price:
Car Insurance Pays:
With VRI+ Gap Insurance you get back the full £25,000 replacement price of the vehicle! Even if the price of the car has increased in price.
Vehicle Retail Price:
Motor insurance pays:
You receive £25,000 in total. The finance company are owed £17,000.
You keep the £8,000 balance after the finance has been settled.
See what our customers are saying about us
Michael R 17 Dec 2013
Our second policy with you. Instant cover and very easy
Freya Chambers 2 Jun 2021
FAST and very straight forward to set up.
Great product to protect your investment.
robert anthony wilkes 12 Jan 2015
easy 2 use web site. very competitive prices
Deborah Milner 26 Oct 2015
Easiest thing ever to do. Had Gap before and it's one of those things you hope you never need, but thankful you got when you do
raymond w 4 Dec 2013
outstanding value against dealer price
Waquas Naseem 18 Sep 2019
Very clear and easy to understand website. I spoke with Hayley who was very friendly, professional and super helpful. The price of my return to invoice policy hugely undercut the car dealer as well for the same product. Would…
Joel Irwin 30 Mar 2014
good price, cheaper than dealer
Somaieh Toodeh Shooshtari 22 Mar 2021
Awesome, user friendly and simple process, A+++
Chantel Marshall 22 Jan 2021
Easy, clear and a great money saver in comparison to the dealerships offer!
Michael 22 Jul 2015
James was really helpful when I called. I've now organised the insurance online and it was so easy and straightforward. Would recommend this service to anyone.
Douglas Blakeley 26 Feb 2016
Very good policy, much cheaper than equivalent policy offered by car dealer, though having all the same benefits. Website was quick and easy to use. Payment by PayPal was an added bonus. I would recommend this company to anyo…
Dale C 20 Jun 2017
Great price, clear website and allowed me to defer the start of the policy.
Alan Arnsby 13 Nov 2017
I cancelled my GMAC policy after they refused to give me any credit for the unused period of my 4th policy with them and saved 35%. Nice people who and nice to deal with. Well done
saleem kalooji 16 Jul 2014
Good value compared to others, easy to under stand website.
Brian Kelly 18 Dec 2013
Excellent policy and easy quote system very easy to purchase on line very happy indeed Thanks indeed
Matt Berry 23 Dec 2013
Clearest website Comp price
Paul Kirkham 7 Mar 2020
Easy and effortless to do and cheaper than the dealer who wanted £399, I paid £129 which makes this a no brainer
john trevor hiagh 23 Dec 2013
recommended by a friend.
D.z 6 Mar 2018
Im existing customer. Found the whole process very easy and at affordable cost. I'm hoping I won't have to ever make a claim but it's good to know it's there. ;)
Simon Davidson 16 Oct 2014
This is my 2nd policy with you. The web site is easy to use.
Deborah Smirfitt 29 Mar 2016
A very easy to use and informative service, best price saved loads on like for like policy from dealer.
P Lomas 17 Dec 2013
Thanks for all your help
John D 30 Mar 2016
Excellent service and very competitive prices. James answered all my questions and made the process very straightforward.
Grace Parfitt 23 Dec 2013
Just bought new car. Used direct gap before. Quick easy with no ard sell.
What is RTI gap insurance?
Should your car be declared a total loss, our return to invoice gap insurance (RTI) will cover the difference between the settlement you receive from your motor insurer and the price you paid to buy your vehicle in the first place.
The value of your car at the time of being written off will be different to when you first bought it and your motor insurance company will offer you a settlement in line with its current worth, rather than its value when you made the purchase.
Studies show that cars can be depreciate by as much as 60% within the first three years, which could leave you significantly out of pocket if your vehicle was to be declared a total loss. Nobody wants to be put in that position, which is why our RTI gap insurance is an option worth considering if you want to safeguard against what could be a significant financial blow in the event of your car being written off.
What cover does transferable Vehicle Replacement provide?
In the event of your vehicle being declared a total loss, this Insurance will pay the difference between the motor insurers settlement and the cost of a replacement vehicle matching the cost of the original vehicle specification.
If you purchased your vehicle under a finance agreement (except where the policy is transferred) and the outstanding finance balance at the point of total loss is greater than the replacement vehicle cost, this insurance will pay the difference between the vehicle value at the point of total loss and the outstanding finance balance.
Cover will include up to a maximum of £250 motor insurance excess.
What is the vehicle purchase price that I should use to calculate the cost of the policy?
The purchase price is the price of your Vehicle, as confirmed in the sales invoice which includes factory fitted accessories and dealer fitted options up to £1,500, paintwork protection systems up to £250.
You should exclude all deposit allowances, discounts, rebates, concessions, cashbacks, incentives and contributions. Also exclude new vehicle registration fees, road fund licence fee, number plates, warranty costs, insurance premiums, fuel and other extras, arrears or negative equity.
Who is the insurer of this policy?
The insurer, Acasta European Insurance Company Limited, (registered no. 96218), which is authorised and regulated by the Gibraltar Financial Services Commission and subject to regulation by the Financial Conduct Authority and Prudential Regulation Authority for the conduct of UK business.
The Insurer is covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if the Insurer cannot complete their obligations. This depends on the type of business and the circumstances of the claim. For claims against insurers 90% of the claim is covered with no upper limit.
What is the claim limit?
The Claim Limit is the the difference between the motor insurers settlement and the cost of a replacement vehicle matching the original vehicle specification or to settle the finance shortfall, whichever is greater.
When and how do I receive my policy documents?
Policy documents together with confirmation of payment are sent by email as soon as you make the payment.
What is total loss?
Only your motor insurer can declare the vehicle a total loss which in general can result from accidental damage, your fault or third party fault, fire, theft or vandalism.
Total loss means that you have claimed under your motor insurance, your claim has been agreed, your vehicle has been forfeited (title of the vehicle transferred to the motor insurer) and a payment made following the incident.
How long can I have owned the vehicle for and still buy the policy?
Our vehicle replacement gap policy can be purchased provided that you have owned the vehicle for less than 180 days.
How can I pay?
It can either be a single one off payment with the use of a credit/debit card without any card charges or alternatively we can arrange for credit payments over 12 months. Please note that the payments are collected by a third party agency and a small administration fee applies.
Whose name should the policy be in?
The policy should always be in the name of the owner / hirer or registered keeper of the vehicle.
I have new for old cover for 12 months on my motor insurance; can I defer my Vehicle Replacement gap policy?
Yes; you can defer the start date for up to a maximum of 12 months but the cover must be taken within 180 days of purchasing the vehicle.
The policy start date must not exceed the anniversary of the vehicles first registration.
It is entirely your responsibility to ensure that you have the appropriate cover provided by your motor insurer during the first 12 months.
Does Vehicle Replacement Gap Insurance settle my outstanding finance?
Yes; in the event that your finance settlement exceeds the purchase price of the vehicle, this total loss gap insurance policy will settle the outstanding finance shortfall and release you from the finance contract. This excludes negative equity carried forward from any previous finance agreement and arrears on the contract.
Does it cover my motor policy excess?
Yes; up to £250 in the event of a total loss claim.
Can my Vehicle Replacement Gap policy be transferred to a replacement vehicle?
Yes; it can; You can make one transfer during the period of insurance.
if you sell your vehicle, provided that no claim has been made under this insurance, you may transfer the remaining cover to the replacement vehicle, subject to our agreement. No fee will apply for this transfer. A new schedule will be issued confirming the replacement vehicle details. Where the replacement vehicle is deemed to be of a higher value an additional premium may be required.
Cover will not include any refinancing.
In the event of bereavement, the remaining benefits of this Insurance may be transferred to the policyholder's spouse or partner.
Am I covered for theft of vehicle with keys?
Yes; you are covered when keys are stolen from your home or office which results in vehicle theft. However you must exercise due diligence and take appropriate steps to safeguard both the keys and the vehicle.
No insurer, including your motor insurer, will provide cover for wilful negligence. For example if you leave the keys in the vehicle and you go off to pay for fuel which results in the vehicle being stolen.
Why would this policy not pay out?
Please see the policy terms and conditions for a full listing, however the main exclusions are:
- The vehicle becoming a total loss whilst the driver is under the influence of non prescription drugs or under the influence of alcohol, involved in illegal activity, fraud or an act of wilful negligence, eg leaving keys in the ignition whilst the vehicle is unattended.
Why is Direct Gap so much cheaper than motor dealers quote?
We are an internet based provider and as such we have lower overheads than motor dealers.
As a result of the high volume of GAP insurance that we sell annually, we are able to provide quality policies at the keenest prices.
You can be confident that our prices are lower than those quoted by dealers and many other web sites.
Paying less than you have been quoted elsewhere in no way means that you are buying an inferior product, it just means that they are making more profit from your purchase!
Can anyone drive my car and still be covered by Vehicle Replacement Gap insurance?
Yes; GAP insurance will include all drivers provided that they are covered on your comprehensive motor insurance policy to drive the vehicle as a named driver.
Am I covered to drive my vehicle abroad?
You are covered not only in England, Wales, Northern Ireland, Scotland, Isle of Man and the Channel Islands but also in member countries of the European Community and any other country for which an International Motor Insurance Certificate (Green Card) is effective on your vehicle at the point of Total Loss up to 120 days in any one trip.
Is this a one off or annual payment?
It can either be a single, one-off payment with the use of a credit/debit card without any card charges, or alternatively we can arrange for credit payments over 12 months. Please note that the payments are collected by a third-party agency and a small administration fee applies.
What is vehicle replacement gap insurance?
In the event of your vehicle being written off, this total loss gap insurance will pay the difference between the motor insurer’s settlement and the price of a replacement vehicle matching the cost of the car’s original specification.
If you purchased your vehicle under a finance agreement (except where the policy is transferred) and the outstanding finance balance at the point of total loss is greater than the replacement vehicle cost, this insurance will pay the difference between the vehicle value at the time it was written off and the outstanding finance balance.
The value of your vehicle at the time of being declared a total loss will be different to when you first purchased it, and your motor insurance company will offer you a payout aligned to its current worth, rather than its original purchase price.
It is estimated that cars can depreciate by as much as 60% over as little as three years, which may leave you with a significant financial shortfall if your car was to be written off. That is an unpleasant scenario for anyone to imagine, which is why we offer the best in vehicle replacement gap insurance, to help protect you and your finances.
How does vehicle replacement gap insurance work?
For example, if you paid £25,000 for your car, but its value at the time of being written off was only £15,000, your vehicle replacement gap insurance would cover the £10,000 difference between that original purchase price and the settlement you received from your motor insurer. Additionally, if the value of your replacement vehicle had gone up from the original purchase price, your gap insurance policy would deliver a payout to reflect that.
Alternatively, let’s assume you bought your car on a finance deal for £25,000 and at the time of being written off, you owed £17,000. Your vehicle replacement gap policy would ensure the finance company received their money, while you would keep the remaining £8,000. In cases where the outstanding balance was greater than the cost of a replacement car, this policy would cover the difference between the vehicle’s value when it was written off and the amount left outstanding on the finance agreement.
Furthermore, your cover will include up to a maximum of £250 motor insurance excess.
Do I need vehicle replacement gap insurance?
There is no obligation to take out total loss gap insurance, but it can prove a sensible decision if your car was to ever be written off. If that was to happen and you did not have vehicle replacement gap cover, you could be left significantly out of pocket or with a hefty amount to repay on your finance agreement.
We would always recommend carefully reading through the terms and conditions of your motor insurance policy. If your car is new, your insurer may include the offer of a replacement vehicle within the first year of ownership. If that is the case, you could always choose to defer the start of your vehicle replacement gap insurance until your car is 12 months old.
Can I get vehicle replacement gap insurance if I bought my car on finance?
Yes; this policy is an option for you if you have purchased your car via a finance agreement. You will receive any money that is left over once the finance company have been paid what they’re owed, and if the outstanding balance is greater than the cost of a replacement vehicle, this policy will cover the difference between the remaining balance and the value of the car when it was written off.
Is vehicle replacement gap insurance only for new cars?
You can take out this policy on a used car, but it may make more sense to do so on a new vehicle, which would likely come with a higher initial value and could leave you with a greater financial shortfall in the event of it being declared a total loss.
Do I get a courtesy car with vehicle replacement gap insurance?
No; Direct Gap are providers of additional cover, and as such do not offer a courtesy car. Your motor insurance policy may include this, but please check the terms and conditions of that policy to be certain. Nor do Direct Gap provide you with the replacement vehicle – our total loss gap insurance policy is designed to ensure you receive the money you need to be able to afford a new car to the same specifications, but we do not provide you with the car itself.
Does total loss gap insurance cover me if I’m at fault?
Yes; you will be covered even if the incident that caused your car to be written off was your fault. However, you will not be covered if the driver is under the influence of alcohol or non-prescription drugs or involved in illegal activity, fraud or an act of wilful negligence. Please take the time to carefully read through the terms and conditions of your replacement vehicle gap policy for full details.
When can I claim on my vehicle replacement gap insurance?
You will be able to claim on your policy once your car has been declared a total loss by your motor insurance company.
The process will then be as follows:
- You will need to call the claims line on 01422 756 100
- You’ll then have to fill out the claims form
- The relevant paperwork will need to be checked
- Your money will be issued to you by way of bank transfer
Do I still have to make payments on a car that is written off?
No; once your motor insurance company have declared your car a total loss, your finance company will subsequently receive the outstanding balance thanks to the cover provided by your vehicle replacement gap insurance policy.