Gap Protection Cover
Gap is like having New for Old cover for your vehicle. It will pay the difference between today's Retail Market Value of your vehicle and whatever value the Motor Insurer places on the vehicle should it be declared a write-off in the future.
Cover your Car or Light Commercial Vehicle for up to 3 years for only £199.00 or for 2 years for only £165.00
Cover your Motorbike for up to 3 years for only £215.00 or for 2 years for only £175.00
Example
Retail Market Value of vehicle at £14,000
Depreciation estimate (varies by Make/Model)
Product Features
- Covers write off's from Fire, Theft, Accident (fault or non fault)
- Cover available for cars, motorcycles (500cc or over) and light commercial vehicles up to 3500kg
- Cover is available on vehicles up to 5 years old and with up to 80,000 miles at the date of policy purchase
- Cover available for 2 or 3 years
- Covers up to £250.00 motor insurance excess in a claim
- Maximum 'GAP' payout is an impressive £15,000
- Cover is available on vehicles up to £50,000 in value at date of policy purchase
Simple Facts
- Up to 500,000 vehicles are declared a 'write off' each year
- Your car/motorcycle/lcv is depreciating every second
- A vehicle is stolen every 120 seconds in the UK (source: Drive and Survive 2006)
- Motor insurers will pay only the depreciated value at the time of the claim
- There is a motor vehicle insurance claim every 8 seconds of every working day
- Vehicle key theft during robberies has almost doubled in the past 3 years (source: Drive and Survive 2006)
Customer Benefits
- Do not have to borrow additional amounts to replace vehicles with a similar model
- Can help to quickly settle any outstanding finance/loans, thus helping maintain a positive credit rating
- Can help keep important hard earned savings intact as these are often withdrawn to help bridge depreciation or deposit 'GAPS'.
Cover is underwritten by Cardif Pinnacle
Formed in 1971, Cardif Pinnacle is part of Global Banking Group BNP Paribas, currently the seventh largest bank in the world with €290 billion in assets under Management. BNP operates in 85 countries with over 87,000 employees and with Cardif Pinnacle is one of the leading providers of Creditor, GAP, warranty and special risks Insurance.
Key facts
Policy Wording
To receive a quotation or discuss your enquiry, please complete our Quotation Request Form or call us on 01206 838400 for one of our advisers to discuss your enquiry.
