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GAP Insurance

What is it?

GAP Insurance is available on new or used vehicles purchased through a finance agreement. In the event of your car or van being stolen, and not recovered, or worse still, written off in an accident, there could be a difference between what you paid for the vehicle or what is outstanding on your finance, and the motor insurance company's settlement. This is where GAP insurance could help.

Our GAP Insurance (Guaranteed Asset Protection) bridges the payment gap between the settlement amount from your motor insurer and the original purchase price of your car or van - or the outstanding finance on it. The additional worry of finding the money to purchase a replacement vehicle could then be taken away.

We can provide you with a range of cover to choose from:

  • 'Return to invoice' price
  • Outstanding finance
  • 'Return to invoice' price and outstanding finance
  • Lease charges

How does Gap Insurance work?

If, for example, you purchased a vehicle costing £18,000 and it is written off after 15 months, your motor insurer may only pay out the current market value which might be £14,000. To replace your vehicle with another model worth £18,000 you will need to find £4,000. However, with our return to invoice price cover we could pay you the missing £4,000.

With our outstanding finance product, the gap insurance payment would only be sufficient to cover any charges (up to a maximum of £10,000) that would need to be paid in order to fully settle your finance agreement. So, in our example the insurance company may pay out £14,000 and the gap insurance may pay £2,000.


Please don't be! Come and talk to us for more details of how each type of GAP insurance works. We can arrange GAP insurance cover to meet your needs and your budget, giving you complete peace of mind.

Contact your nearest branch