For many people buying a new car is a big deal. It becomes your pride and joy, and you would do anything you can to protect your new purchase. Unfortunately, the sad reality is that as soon as you drive your beloved car off the forecourt it automatically depreciates in value. Added to that, accidents happen and the chances are it may not even have been your fault, so don't take the risk - purchase GAP Insurance online to protect your investment.

Is Gap Insurance Worth It?

GAP Insurance should be purchased to prevent a financial shortfall if your vehicle is written off. If your car is damaged beyond repair or stolen, your motor insurer may not pay enough to settle the outstanding finance on the vehicle, and certainly will not pay you back what you paid for it. It is crucial you purchase GAP Insurance to ensure you will not be left out of pocket if you have a total insurance loss.

Why purchase GAP Insurance online when I can get it from the dealer?

In theory purchasing GAP Insurance from a dealer is a good product, eliminating the risk that your insurance won't pay out enough to pay off your finance or recoup any money invested in your car. In practice, GAP Insurance supplied by a dealer may not always be the best product or price. The important message is to shop around and don't accept the first deal just because it is convenient.

Remember, with most policies you have a 14 day cooling off period should you be unhappy with the deal.

Dealers typically sell GAP Insurance policies from £299 - £799 - at these levels, consumers may think they are too expensive and not worth the price, especially if it is more expensive than their Comprehensive policy through their motor insurer. If the premium was 1/3 of the cost dealers charge, would it be worth it? The answer... If you buy the right policy, at the right price!

Our BTI+ Policy

With our BTI+ Policy you can clear the balance of the finance or return to the invoice price - whichever the higher. For example: a vehicle purchased today on finance for £29,228 with finance over 4 years and charges of £4500, would, if written off next month, cost you £33,728. A Back (or Return) to Invoice, which is a policy that nearly every dealers sells, would not clear the £4500 finance charges. All this would simply do is get you back to the invoice price. By Purchasing a Finance GAP Insurance policy, would clear the £4500 or whatever the outstanding finance figure is, however, this wouldn't get you back to your invoice price!

Protect yourself from increases in VAT or manufacturers price increases - Vehicle Replacement Plus+ Policy

If you have recently bought a new vehicle and have benefitted from the Government's Scrappage Scheme or a high level of discount from the dealer, there is no guarantee that these levels of discount will be available a year from now. It is possible that because of the economic climate we could see a rise in the rate of VAT as well as (or) manufacturers prices. Protect yourself with a Vehicle Replacement Plus+ Policy that allows you to claim a higher monetary level than that of a BTI+ policy, however, it is a little more expensive to purchase.

Through reading this article I'm sure you agree that purchasing GAP Insurance online, will ensure you are properly protected and save you money should the worst happen to your new car.

Additional Benefits

• Pays up to £250 of your Comprehensive insurance policy excess
• Back to Invoice and Contract Hire GAP is available for up to 180 days from the date of delivery
• Vehicle Replacement Plus+ Insurance is available for up to 45 days from the date of delivery
• All named drivers on the Fully Comprehensive insurance policy including Provisional Licence holders
• Maximum level of GAP cover available is £25,000
• Pays back to your original invoice price before any deposit deduction
• Doesn’t cover arrears or negative equity shown on purchase invoice
• Available for cars and vans up to 3.5 tons (unladen)
• Vehicles owned outright
• Vehicles on finance - Hire Purchase, Personal Contract Purchase (PCP), Lease Purchase agreements or Personal Loan
• Free transfer for the remaining balance of the GAP policy if you change your vehicle before the insurance end date
• We cover under 18's with a Provisional Driving Licence covered on your fully comprehensive insurance
• If your primary insurer replaces your vehicle new for old in the first and or second year, we will transfer the whole policy to your replacement vehicle FREE of charge
• Any amendment you wish to make to your existing policy, for example; change of address or registration number can also be made, again FREE of charge
• If your Fully Comprehensive Insurance provider accepts your ‘Total Loss’ claim, your GAP Insurance policy will pay out
• We cover for theft of keys