For many of us, our car is one of our most prized possessions and one of the most expensive purchases we’ll ever make. Despite how careful we might be whilst driving and how well we look after our cars both on and off the road, anything could happen. Being unlucky enough to have your car stolen and not recovered, or to be involved in an accident where your car is written off, is never beyond the realms of possibility.
In addition to the emotional strain these eventualities can put you under; there will inevitably be financial implications. However comprehensive your insurance policy might be, if your vehicle is declared a “total loss” and you make a “total loss claim” to your insurer, most insurers will only pay out the current market value of your vehicle at the time of incident. This could leave you with a shortfall of thousands of pounds in comparison to the purchase price of the car, meaning that if you want to replace it with a like-for-like you’ll have to make up the outstanding balance.
To guard against this potential cost in the event of a total loss claim, you can cover yourself with a GAP (Guaranteed Asset Protection) insurance policy, to cover the difference.
GAP Cover Insurance from Warranty Direct is available for brand new cars, used cars bought from a dealer, used cars bought privately and even cars that you have owned for a long time.
We have a choice of claim limits to suit the value of your particular car and cover is available for periods of up to 4 years. We also cover up to £500 of the motor insurer’s excess if you have to make a claim on your GAP Cover Insurance.
To find out more, visit our GAP Cover Insurance website for more information and to get a quote.