Payment Protection
Keeps loan repayments moving if illness, injury or redundancy stops your income.
Read more →Loan & Credit Protection
GAP Insurance
Pays the shortfall between what the insurer settles and what you still owe.
What this cover does
After a write-off your auto insurer pays the vehicle’s current market value. If the finance balance is higher — common in the early years, on long terms and after little or no deposit — the difference is still yours to pay on a car you no longer have. GAP pays that difference.
Typically included
- The shortfall between the insurance settlement and the finance balance
- Cover after total loss by accident, fire, flood or theft
- Deductible contribution on many policies
- Cover for leases as well as purchase finance
Common add-ons
- Return-to-invoice cover paying back to the original price
- Replacement-vehicle cover to buy an equivalent new model
- Lease-specific cover including early-termination charges
- Negative equity rolled from a previous agreement
Questions
What people ask about gap
How long does a gap last?
Typically the first two to four years, longer on terms beyond 60 months or where negative equity was rolled in. Depreciation is fastest in year one, which is when the shortfall is widest.
The dealer offered GAP. Should I take it?
Compare it. Dealer-arranged cover is usually added to the finance so you pay interest on it, and standalone cover bought separately is frequently cheaper for the same or better terms.
Often taken together
Related cover
Mortgage Protection
Clears or covers the mortgage if you die, become critically ill or cannot work.
Read more →Quote GAP Insurance
Tell us what you already have and we will show you where this fits — or tell you plainly that you do not need it.