Compare GapInsurance123 Policy FeaturesWhat are the different levels of cover offered by GapInsurance123? To try to keep things simple, we offer four levels of cover, each available for cars, vans, motorhomes, motorbikes, taxi's and driving school vehicles.
Take a quick look at the table below to see how each of the types of cover work.
Compare Gap Insurance cover
Finance & Contract Hire
Return to Invoice
Vehicle Replacement Insurance
Agreed Value Gap
|Vehicle Age/Mileage at start||8 years/100k miles||10 years/120k miles||8 years/80k miles||8 years/80k miles|
|Maximum Policy Period||5 years||5 years||5 years||4 years|
|Policy Purchase within||Any Time||180 days||180 days||Any Time|
|Policy cover||To finance/lease settlement||To original invoice price||To cost of equivalent replacement||105% GGR|
|Suitable for Finance?||Yes||Yes, Combined||Yes, Combined||No|
|Insurance Excess Cover||up to £250 contribution||up to £250 contribution||up to £250 contribution||up to £250|
|Defer Start Date||No||Yes||Yes||No|
|Cooling off period||30 days||30 days||30 days||30 days|
|Cancellation & Refund||Full up to 30 days, pro rat after||Full up to 30 days, pro rata after||Full up to 30 days, pro rata after||Full up to 30 days, pro rata after|
* Will transfer the balance of cover free of charge if vehicle is replaced by your motor insurer with no claim on the Gap policy.
All Policies are available for Cars, Vans, Motorhomes, Motorbikes, Taxi's and Driving School Vehicles.
Gap Insurance policies suitable forFinance and Contract Hire Gap Insurance : For vehicles on hire purchase through a motor dealer, or through a Contract Hire or Lease agreement. Will cover between the market value of the old vehicle, and the amount required to settle a finance agreement or lease settlement.
Return to Invoice Gap Insurance : For vehicles purchased by cash, or on a hire purchase agreement through the motor dealer within the last 180 days. Will cover between the market value of your old vehicle, and the higher amount of either the finance settlement figure or the original invoice price.
Vehicle Replacement Insurance : For vehicles purchased by cash, or on a hire purchase agreement through the motor dealer within the last 180 days. Will cover between the market value of your old vehicle, and the higher amount of either the finance settlement figure or the cost of replacing the vehicle with one that you bought the policy for.
Agreed Value Gap Insurance : For vehicles purchased privately, at auction or owned for more than 180 days. Will cover between the market value of your old vehicle and 105% of the Glass' Guide Retail Value of your vehicle on the day you bought the Gap Insurance policy.