Frequently Asked Questions

1. What is GAP insurance?

GAP insurance stands for Guaranteed Asset Protection Insurance. GAP insurance bridges the gap between the price you paid for your vehicle at the outset compared with the amount you receive from your insurer as a claims settlement.

In the event of a write off or theft, your motor insurer will only reimburse you the current market value of the vehicle - not what you paid for it. As a result, you could find yourself in one of the following predicaments as a result of vehicle depreciation:

  • If you paid for the vehicle in cash...
    • You could be £000s worse off due to the gap left between what you paid for the vehicle and its market value at the time of a claim due to depreciation.
  • If you paid for the vehicle using a bank loan or on finance...
    • You could be left liable to pay any outstanding finance on the vehicle or still have a balance on your loan to pay. This is because vehicles usually depreciate more quickly than the capital is repaid via finance agreements, particularly in the early years.
  • If your vehicle is on contract hire...
    • Similar to the scenario above, you'd still be left on the hook to honour your lease agreement and pay the outstanding finance on the vehicle, even if you chose not to receive a replacement vehicle.

2. Why take out GAP insurance? / How would GAP insurance benefit me?

Example

  • Let's say you bought a new car for £10,000 and decided to buy Return to Invoice GAP insurance from InsuretheGap rather than the car dealership.
  • Three years on, your car is now worth £6,000 due to depreciation.
  • Your car is stolen and is never recovered.
  • Your motor insurer will only pay £6,000 (current market value) in settlement, leaving you with a shortfall of £4,000.
  • Your Return to Invoice InsuretheGap policy would reimburse the £4,000 gap for a fraction of the cost you would have been charged by the car dealership.
  • Contribution towards your comprehensive insurance excess - provides £250 as standard with flexibility to increase to £700

3. What different types of GAP insurance are available through InsuretheGap?

InsuretheGap offer a wide range of GAP insurance policies to cover a range of purchase agreements:

Return to Invoice GAP Insurance

This cover will pay the difference between the current market value of the vehicle and the net invoice price of the insured vehicle.

  • Suitable option if car purchased using cash or a bank loan.
  • Also suitable for vehicles purchased using finance

Visit for more information on Return to Invoice GAP Insurance

Finance GAP Insurance

Pays the difference between the current market value of the vehicle and the net balance payable to the finance company at the time of the loss

  • Suitable if financed using HP, PCP or LP

Visit for more information on Return to Finance GAP Insurance

Combined Total Loss GAP

Pays the greater of the difference between...

The current market value of the vehicle and the net invoice price of the insured vehicle

or

The difference between the current market value and the net balance.

  • Suitable if purchase financed using HP, PCP or LP

Visit for more information on Combined Total Loss GAP Insurance

Contract Lease Hire GAP

Pays the difference between the current market value of the insured vehicle and the early settlement balance of the outstanding finance

  • Suitable for those who lease their vehicle
  • Financed using HP, PCP, LP

This product is not available at the moment, but will be coming soon.

Visit for more information on Contract Lease Hire GAP

Private Purchase GAP

Pays the difference between your motor company insurance settlement and the market value of the vehicle as it stood on the day in which GAP insurance was purchased

  • Suitable for those who purchase their vehicle privately
  • Financed using cash or a bank loan

This product is not available at the moment, but will be coming soon.

Visit for more information on Private Purchase GAP

4. What vehicle types do InsuretheGap cover?

InsuretheGap offer a range of products that cover cars, vans and motorbikes. We cover vehicles up to the market value of £150,000 and unlike many GAP Insurance providers, we have no restrictions on performance vehicles, vehicle age, or mileage.

What vehicle types are not covered?

  • Vehicles over 3.5 GWT.
  • Vehicles that exceed the maximum vehicle price as stated on your Certificate of Insurance.
  • Vehicles previously written off by an insurer.
  • Vehicles used in a public service capacity at any time (i.e. ambulances, police cars or military vehicles).
  • Vehicles used for competitive racing, track days, off road use, reliability tests or speed testing.
  • Any vehicle modified other than in accordance with the manufacturers specifications aren't covered.
  • Any imported vehicles unless manufactured as right hand drive and purchased from an authorised United Kingdom distributor.
  • Kit cars, invalid carriages, buses, coaches, stretched limousines, touring caravans or trucks, quad bikes, scooters, tricycles, sidecars and any vehicle with a non-manufacturer fitted LPG conversion or a rotary engine.
  • Any vehicle used at any time for the commercial business use of hire and reward; courier or delivery services, or for the carriage of passengers, including but not limited to taxi services and private hire.

Please view policy wording and Key Facts documents for full details on all exclusions

5. What other conditions must be met to be eligible for cover?

  1. Comprehensive motor insurance must be in place for the duration of the policy
  2. The policyholder must own the vehicle and/or be the registered keeper
  3. Policyholder must be permanent UK resident. In the case of a corporate body, the corporation must be registered in the UK.
  4. The vehicle must be used principally within the UK
  5. All insured drivers must have a valid UK licence or an internationally recognised driving licence.
  6. You must not be or be directly related to a motor trader, garage or associated company, the proprietor of such or an employee of such.
  7. The insured vehicle must be listed in the Glass's Guide
  8. Customers must be 18 years old or older on day of policy inception.

Please view policy wording and Key Facts documents for full details on all exclusions

6. Does GAP Insurance cover excess charges from my main insurer?

Yes. If you suffer a total loss and claim on your InsuretheGap policy it will cover up to £250 in excess charges as standard. You also have the option to upgrade your policy to cover £750 worth of excess, whether voluntary or compulsory when you purchase your policy.

7. Are all named drivers covered?

Yes. All named drivers included on your Motor Insurance Policy are covered under your GAP insurance policy.

8. How long will it take to settle a claim?

On average our claims are settled within 14 days.

9. Are there administration charges if I need to change my details?

Yes, whilst we have made every effort to keep our charges to a minimum, if you ask us to make changes to your policy in the future you may incur some additional charges.

  • If you ask us to make a change to your certificate of insurance due to a change of personal details you will incur a £10 administration fee.
  • If you ask us to transfer your policy to another vehicle you there is a £20 administration fee and additional premium may apply.
  • If you cancel your policy after the cooling off period, there is a £35 administration fee.

Please consult the website terms and conditions and your policy documents for more information.

10. What happens if I change my car earlier than I originally planned?

Please refer to the Transferring your Cover section within our policy wording for full information.

11. I have a new car that I don't need to insure immediately, can I defer the start date?

Yes you can. You can buy an InsuretheGap policy up to 180 days after the vehicle was purchased. So long as a Comprehensive Motor Insurance Policy is in place for the duration of your GAP Insurance, your policy will be valid.

12. Do I need to pay in full or can I pay in installments?

All our policies require the premium to be paid in full in order for cover to be in place.

13. Is there a cooling off period? / What happens if I want to cancel?

You have a cooling off period of 30 days from the date you purchase the insurance, provided you are not intending to submit a claim, or have already submitted a claim. You will be entitled to a full refund within the 30 day cooling off period.

Anyone wishing to cancel after the cooling off period will be entitled to a pro-rata refund of the premium, minus a £35 administration fee.

14. What is the maximum market value covered under our policies?

The maximum vehicle value we cover under our policies is £150,000.

15. What is the upper sum insured limit on an Insurethegap policy?

The upper sum insured limit on an InsuretheGap policy £50,000. The sum insured varies by policy type, and based on the value of the vehicle that is being purchased. Please get a quote to see the level of cover that applies to your product choice and vehicle.

16. Who are your policies underwritten by?

InsuretheGap policies are underwritten by MAPFRE Asistencia the leading underwriter of GAP Insurance in the UK.

MAPFRE ASISTENCIA Compania Internacional de Seguros y Reaseguros Sociedad Anonima which is authorised by Direccion General de Seguros y Fondos de Pensiones and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of regulation by the Financial Conduct Authority and Prudential Regulation Authority are available on request. MAPFRE ASISTENCIA Compania Internacional de Seguros y Reaseguros Sociedad Anonima is incorporated and registered in the Kingdom of Spain and registered as a foreign company in the United Kingdom with company number FC021974, acting through its UK branch with branch number BR008042 and its principal office is at Alpha House, 5th Floor, 24A Lime Street, London, EC3M 7HS

17. What are your minimum and maximum policy terms?

InsuretheGap policies can cover a minimum term of 12 to 60 months depending on your requirements and the type of policy selected. Simply select the length of cover you require from the drop down when generating a quote to see how the length of cover affects the policy price.