GAP Cover Types
SELECTING THE RIGHT GAP PRODUCT
COMBINED OR CONTRACT GAP?
COMBINED GAP
This is suitable if you have purchased your vehicle within the last 365 days from a VAT registered Motor Trader and paid in full through cash, cheque, BACS transfer, loan, bankers draft or through a finance agreement.
Options are available with cover periods of up to 4 years for cars, vans, and motor homes, up to a maximum value of £125k, and up to 3 years for taxis with a maximum value of £70k.
CONTRACT HIRE GAP
This is suitable if you are leasing a car or van with no option to purchase the vehicle. The vehicle must have been obtained within the last 365 days. Options are available with cover periods of up to 5 years for cars and vans up to a monthly rental value of £1,000.
This product will cover the difference between the motor insurance settlement figure and the early finance settlement figure.
GAP AT A GLANCE ...
Covers the first £250 of comprehensive insurance excess
Range of cover options for vehicles up to value of £125k
Covers the vehicle should it be written off due to theft or damage
Pro-rata refunds available if the vehicle is sold before the policy end date
Cover available for cars, vans, motor homes and taxis
Covers the difference between the motor insurance settlement figure and the invoice price or early finance settlement figure
