Click4Gap

What to look for when buying Gap cover?

Ensuring your car is protected with Gap Insurance can offer a sense of financial peace of mind, however, it’s crucial to approach your decision with care and knowledge. Here’s a helpful checklist to guide you through the complexities of Gap cover to ensure you make an informed choice that aligns with your needs and your budget.

How does Gap Insurance coverage work?

A vehicle depreciates the moment it leaves the showroom and continues to depreciate year after year, losing up to 60% of its value in the first five years.Let’s say for example that you purchased a vehicle and a year or two later, it’s written off. Your comprehensive motor insurer will pay a settlement amount equivalent to the market value on the date of the incident.

What will Gap Insurance do for you?

If you paid cash for your vehicle, with or without a big deposit... Click4Gap Combined Gap Insurance will cover a shortfall of up to £75,000, to make up the difference between your motor insurer pay-out, which is the market value at the time of loss, and your vehicle’s purchase value, subject to the policy terms.

How will Gap Cover benefit you?

Gap Insurance provides you with essential protection against your vehicle depreciating between the time you bought it and when it is stolen or damaged beyond repair. Your motor insurance will typically pay a settlement equivalent to the market value at the date of loss. This can leave you with a shortfall when replacing your vehicle.