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| UK insurance > car > GAP | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GAP car insuranceGAP car insurance stands for Guaranteed Asset Protection and is designed to pay an insurance top up in the case of a claim. GAP car insurance will provide you with protection against the difference between the Insurance valuation at time of total loss and the agreed value of your vehicle when taking out the policy. Finance GAP car insurance provides you added protection if you have asked for a loan to purchase your vehicle. It is designed to pay out your unpaid loan balance if your car is stolen or totally damaged. Finance GAP car insurance protects old and new cars against almost all risks that cause total loss. GAP car insurance also pays the difference of the car’s original market price and its cost before the accident, even if you did not take out a loan. Contract Hire GAP car insurance will pay the difference between your Motor Insurance payout and the amount required to settle the Contract Hire / Lease Agreement. Invoice GAP car insurance will pay you the difference between your Motor Insurance payout and the original invoice price you paid for the vehicle. If you happen to have finance outstanding on the vehicle, in many cases receiving the full original invoice price back would allow you to settle the remaining finance and also have some money left over which can be put towards the cost of the new replacement vehicle. Retail Value GAP car insurance will pay you the difference between your car Insurance payout and the Retail Value of your car on the day that you purchased the Retail Value GAP Insurance policy. Whilst this may not provide you with the same level of cover as Invoice or Replacement GAP Insurance policies, it does effectively freeze the market value of your vehicle for a number of years. Replacement GAP car insurance will pay you the difference between your Motor Insurance payout and the cost of replacing the vehicle New-For-Old at the time of claim, even if the Replacement Vehicle costs more than the price you originally paid for it. |
Insurance Buying Tips... LOW to MEDIUM risk - driver or car try going direct to an INSURER...
MEDIUM to HIGH risk - driver or car try INTERMEDIARIES... Special cars - try SPECIALIST INTERMEDIARIES... If you have have more time you can get more quotes from out list of car insurance companies... |
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