Some simple answers to some straightforward questions

A simple list of Questions and Answers on Gap Insurance from GapInsurance123. If you have a question that you need the answer to, then simply give us a call and we will add it to the list!

Question : What circumstances can I claim on a GapInsurance123 policy?
- Basically, any event that leads to your motor insurer deeming the vehicle a 'total loss' or 'write off', and covering you for the market replacement value. That could either be an accident (fault or nonfault), fire or theft. Click for more information on this here.

Question : What are typical exclusions for a GapInsurance123 Gap Insurance policy? - The first exclusion will be where your motor insurer does not cover you for the incident where the vehicle has been deemed a 'total loss' and does not provide a market value settlement to you in that case. Examples of this would be drink driving or negligence.

Another area where exclusions can occur are use for a taxi, driving school, courier or chauffeur use, except where you have informed us of this use at the time of policy purchase, and paid an additional premium. These types of specialist uses will be indicated as such on your policy schedule provided for your GapInsurance123 cover.

There are a number of exclusions listed on the policy terms and conditions. We would urge you to check these before buying the policy, and if you have any questions please contact us at

Question : Is the price quoted for each year or a one off payment? - If you have chosen a specific number of years on the quote, eg 3 years, then the price generated is for the full period and not an annual payment.

Question : What happens if the claim limit I choose ends up not being adequate if I make a claim? - You will simply get the maximum of your claim limit. If you had a 'gap to bridge' of £12,000 and you had only opted for a £10,000 claim limit, you would simply get the £10,000 as a settlement from the policy.

Question : Why is GapInsurance123 so much cheaper than the dealer? - There are 3 basic reasons.Finance Gap Insurance from GapInsurance123

Firstly, the Insurance Premium Tax must be charged at the same rate as VAT by the motor dealer, ie 20%. If you buy gap insurance from an independent source such as GapInsurance123, we are charged at the standard rate of insurance premium tax, which is traditionally lower.

Secondly, the motor dealer can only sell Gap Insurance to someone it sells a vehicle to. GapInsurance123 can sell a Gap Insurance policy to anyone who qualifies for the policy. As such we would sell in a few days the number of policies that some motor dealers would sell in a year. This puts us in a far better position to negotiate better prices from the insurer for our customers. Mention the price you are offered a GapInsurance123 policy for to a motor dealer, and they will often tell you that they could not even get a supply price from the dealer that cheap.

Thirdly, every business has to make a profit, we are no different. However, we work on a 'volume' basis, and as such try to present a policy premium to our customers at a wholesale price. We keep our running costs low, and as such can pass on great savings to our customers. Our profit margins keep our business growing, because of the volume of customers we have.

Questions : Are GapInsurance123 policies inferior to other more expensive policies? - Actually, we would strongly argue that the policy features in a GapInsurance123 policy cannot be surpassed anywhere else in the UK market today. Of course, we would urge you to check and compare policy terms with any product you are considering.

Remember the policies can be deferred, transferred and cancelled with a refund, we provide up to 5-year return to invoice and vehicle replacement insurance and we have been recognised by Which Magazine as providing some of the UK's best premium prices.

The policies are underwritten by AmTrust International Underwriters Limited, who underwrite some huge insurance schemes with household names in the UK. Policies are covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service also.

Question : If I defer a policy for say 12 months, and I renew my car insurance after 6 months, to a policy that does not allow for the replacement cover, am I left exposed? - No, we can bring forward the date of your Gap Insurance if your new motor insurance policy does not cover you. Please ensure you tell us in good time of the change, as we cannot accept any claim unless you have asked us to change the deferred start date, and we have confirmed this with you, prior to the claim.

Question : If I buy my gap policy online and I covered straight away?
- Yes, once you press the button to make the payment, you are 'on cover' right away if the date you entered for the 'start date' is the same as today's date. The documents are emailed to you instantly, and you can download them in PDF format.Gap Insurance 123

Question : I have paid for my policy but I have not received any email confirming this, what can I do?
- If you have not had an email from us before, we would ask you to check in your 'trash' or 'junk' folder of your email. If the email is not there please contact our Customer Services Team on 0800 195 4926.

Question : I have had my confirmation email and downloaded my documents, but I do not have a printer. What can I do? - No problem, simply call our Customer Services Team to confirm your cover, and we will send you a full copy of your documents by First Class post.

Questions : Does my vehicle qualify for Gap Insurance? - For a full list, either give us a ring, or check the policy terms and conditions. However, as a general rule, if the vehicle is a UK supplied vehicle, listed in Glass' Guide, no more than 3500kg in weight and is less than £75,000 in value, then you should be eligible for Gap Insurance with ourselves. There are some excluded vehicles such as Aston Martin, Bentley, Ferrari etc, but remember GapInsurance123 is a broker, and we may have another insurer who could cover you. Give us a ring on either 0151 647 7556 / 0800 195 4926 and we will take a look for you.

Question : I want to cover a specific type of vehicle, such as a motorbike, or I want gap for driving school or taxi use. How do I get a quote? Simple, just click for a quote as normal and you will be asked for the vehicle type and vehicle use. Most vehicle types are covered by any standard GapInsurance123 policy.

Specific vehicle use, such as driving school or taxi, are an additional option on all standard policies. Providing you indicate the vehicle use on the questionnaire, you will be quoted with the correct vehicle use option. The type of vehicle use will be shown on the policy schedule as an 'option' to confirm the vehicle use is in place.

Question : Who are GapInsurance123? GapInsurance123 are a trading name of Aequitas Automotive Ltd. Aequitas have provided Gap Insurance policies direct to the UK public for a number of years.

Further Questions (click each link for further information)

Question : What happens if the policyholder were to die during the period of cover?

Question : What is the 'net invoice price' for your vehicle purchase?

Aequitas Automotive Ltd are a specialist Gap Insurance broker, with a number of leading niche insurance facilities. In the field of Gap Insurance we also own and operate, and  We also run a specialist Tyre Insurance website in

This gives Aequitas the ability to directly compare insurers for you, but crucially between brands we own and understand. Also, we do not employ an exclusive agreement with one single insurer. We feel that this approach is possibly unique in our market. We feel that this gives us the advantage of being able to find a policy that suits you, rather than making you suit our one and only policy.   

From the 22nd of July 2016 all Gap Insurance 123 policies will be underwritten by  AmTrust International Underwriters Limited