Gap Insurance

SaveMoneyHub.com offers some of the most comprehensive GAP products on the market with competitive rates to match.

What is covered?

How Does GAP Insurance Work?

We will provide you with protection against financial loss they may incur as a result of their vehicle being a total write-off due to accident, fire, vandalism, flood or theft.

GAP Insurance is a supplementary insurance that protects you financially when your vehicle is written off. Please remember that if your vehicle is written off, your own motor insurance company is only ever legally obliged to offer you the value of your vehicle on the day it was written off. With the average vehicle predicted to depreciate by up to 50% within the first three years alone, this means that the amount that you are offered in settlement can be, and often is, thousands of pounds less than the original amount that you paid.

What are the various types of GAP available via SaveMoneyHub*

* prices may vary due to your vehicle eligibility

Combination Return To Invoice

If within the Period of Insurance an incident occurs within the stated Geographical Limits which results in a Total Loss/Write Off under a Motor Insurance Policy, this insurance will pay the financial shortfall between the Insured Value and the greater of:
1. The original purchase price of the Vehicle or
2. The outstanding settlement value on the finance agreement, subject to the original amount financed being less than or equal to the Vehicle purchase price.

This is subject to a maximum benefit not exceeding the Sum Insured shown on the Proposal / Policy Schedule and will include Motor Insurance Policy excess up to an amount of £250. Only one claim can be made under this Policy during the Period of Insurance.

24 Months

£TODO inc. IPT
  • Combined GAP & RTI
  • 24 Months Cover

36 Months

£TODO inc. IPT
  • Combined GAP & RTI
  • 36 Months Cover

48 Months

£TODO inc. IPT
  • Combined GAP & RTI
  • 48 Months Cover

Combination Return to Invoice – Hire & Reward

Specifically designed for Taxis, Driving Schools, Couriers and Chauffeurs, If within the Period of Insurance an incident occurs within the stated Geographical Limits which results in a Total Loss/Write Off under a Motor Insurance Policy, this insurance will pay the financial shortfall between the Insured Value and the greater of:
1. The original purchase price of the Vehicle or
2. The outstanding settlement value on the finance agreement, subject to the original amount financed being less than or equal to the Vehicle purchase price.

This is subject to a maximum benefit not exceeding the Sum Insured shown on the Proposal / Policy Schedule and will include Motor Insurance Policy excess up to an amount of £250. Only one claim can be made under this Policy during the Period of Insurance.

24 Months

£TODO inc. IPT
  • Combined GAP & RTI Hire & Reward
  • 24 Months Cover

36 Months

£TODO inc. IPT
  • Combined GAP & RTI Hire & Reward
  • 36 Months Cover

48 Months

£TODO inc. IPT
  • Combined GAP & RTI Hire & Reward
  • 48 Months Cover

Contract Hire & Leasing GAP

If within the Period of Insurance an incident occurs within the stated Geographical Limits which results in a Total Loss/Write Off under a Motor Insurance Policy, this insurance will pay the difference between the Insured Value of Your Vehicle and the Outstanding Balance under Your Contract Hire or Leasing Agreement.
This is subject to a maximum benefit not exceeding the Sum Insured shown on the Proposal / Policy Schedule and will include Motor Insurance Policy excess up to an amount of £250. Only one claim can be made under this Policy during the Period of Insurance.

24 Months

£TODO inc. IPT
  • Combined Contract Hire & Leasing GAP
  • 24 Months Cover

36 Months

£TODO inc. IPT
  • Combined Contract Hire & Leasing GAP
  • 36 Months Cover

48 Months

£TODO inc. IPT
  • Combined Contract Hire & Leasing GAP
  • 48 Months Cover

60 Months

£TODO inc. IPT
  • Combined Contract Hire & Leasing GAP
  • 60 Months Cover

Contract Hire & Leasing GAP – Hire & Reward

Specifically designed for Taxis, Driving Schools, Couriers and Chauffeurs, If within the Period of Insurance an incident occurs within the stated Geographical Limits which results in a Total Loss/Write Off under a Motor Insurance Policy, this insurance will pay the difference between the Insured Value of Your Vehicle and the Outstanding Balance under Your Contract Hire or Leasing Agreement.
This is subject to a maximum benefit not exceeding the Sum Insured shown on the Proposal / Policy Schedule and will include Motor Insurance Policy excess up to an amount of £250. Only one claim can be made under this Policy during the Period of Insurance.

24 Months

£TODO inc. IPT
  • Combined Contract Hire & Leasing GAP – Hire & Reward
  • 24 Months Cover

36 Months

£TODO inc. IPT
  • Combined Contract Hire & Leasing GAP – Hire & Reward
  • 36 Months Cover

48 Months

£TODO inc. IPT
  • Combined Contract Hire & Leasing GAP – Hire & Reward
  • 48 Months Cover

60 Months

£TODO inc. IPT
  • Combined Contract Hire & Leasing GAP – Hire & Reward
  • 60 Months Cover

Shortfall Cover

If within the Period of Insurance an incident occurs within the stated Geographical Limits which results in a Total Loss/Write Off under a Motor Insurance Policy, this insurance will pay the financial shortfall between the Insured Value and the greater of:
1. The current “Retail” market value of the Vehicle as shown in Glass`s Guide, on the date you purchase this insurance or
2. The outstanding settlement value on the finance agreement, subject to the original amount financed being less than or equal to the Vehicle purchase price.

This is subject to a maximum benefit not exceeding the Sum Insured shown on the Proposal / Policy Schedule and will include Motor Insurance Policy excess up to an amount of £250. Only one claim can be made under this Policy during the Period of Insurance.

24 Months

£TODO inc. IPT
  • Shortfall Cover
  • 24 Months Cover

36 Months

£TODO inc. IPT
  • Shortfall Cover
  • 36 Months Cover

48 Months

£TODO inc. IPT
  • Shortfall Cover
  • 48 Months Cover

What is covered

Below we list what is covered under this insurance, please check this information carefully to make sure that the cover is right for you. If you have any questions, please contact us.

What is not covered

Unfortunately, we can’t cover everything on our GAP Insurance. Below are a list of the general exclusions.

Flexible Cover

All of our GAP products allow for pro- rata refunds for the remainder of any unused term, should you sell the vehicle or decide you do not need cover, or you can transfer any remaining term to a replacement vehicle should you decide to change vehicles, but keep the cover in place.

Vehicle Make & Model

Covers all brands except Bugatti, Hummer, Honda NSX models, Lamborghini, Lotus, Maserati and Maybach, See the Terms and conditions for all vehicle eligibility criteria and exclusions.

Electric Vehicles

Electric vehciles are covered.

Transferable Policy

Transfer the policy to another vehicle that meets the eligibility criteria.

Invoice Price / Current Market Value

The invoice price / current market value of insured vehicle must not exceed £125,000. (£75,000 on GAP).

Vehicle Age

Any vehicle over 10 years old at inception of the policy

Vehicle Weight

Any vehicle weighing over 3.5 tonnes (7 tonnes on Motorhomes).

Maximum Mileage

Any vehicle with a mileage over 100,000 miles at policy inception.

Vehicle Purchase Conditions

Any vehicle not purchased from an approved source within the last 180 days (excluding Shortfall).

Benefits Of Using SaveMoneyHub.com

We aim to make GAP insurance available to as many people as possible but there are some circumstances and vehicles that we cannot cover. We ask that you read this page carefully to make sure our policy is right for you. If you have any questions, please do not hesitate to contact us.

SIGNIFICANT BENEFITS OVER OUR COMPETITORS PRODUCTS

  • Highly competitive pricing.
  • Wider vehicle eligibility criteria and more flexible cover than competitors.
  • Our GAP insurance products can be purchased up to 180 days after you take delivery of the vehicle. (Shortfall Insurance is available if more than 180 days)
  • Direct and simple claims process and we handle all claims in-house, in the UK.
  • Transferable to a replacement vehicle that meets the eligibility criteria – subject to an administration fee
  • Cover available for most vehicle makes / models, including electric vehicles

ELIGIBILITY CRITERIA

  • The invoice price / current market value of insured vehicle does not exceed £125,000. (£75,000 on GAP).
  • The insured vehicle is less than 10 years old at inception of the policy and has a maximum GVW of 3.5 tonnes (7 tonnes on Motorhomes).
  • The insured vehicle has covered less than 100,000 miles at inception of the policy
  • The insured vehicle was purchased from an approved source within the last 180 days. If the vehicle was purchased separately or more than 180 days ago, you can still purchase our Shortfall Insurance.

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