How not to lose out, if your car gets stolen.
GAP insurance can offer you complete financial protection should your vehicle ever be stolen and not recovered.
- 9 Jun 2020
Having your car stolen is traumatic enough, without the additional pain of financial loss. Often the car is recovered and the cost to rectify any damage to it is covered by your motor insurer provider. Sometimes though, the car is never recovered and your motor insurer will pay you the market value of your car on the date it was reported stolen.
Many accept this arrangement, but if you are liable for any outstanding finance or lease arrangements you could still end up paying for a car you no longer have.
The core benefit of GAP insurance is to plug the gap between what you originally paid for your car and what your motor insurer is willing to pay out, based on your car's current market value. What is often less well known is that GAP insurance also typically covers motor insurance excess, lease deposits and early lease termination fees.
For example, with Best4 GAP you can get up to £250 towards your motor insurance excess, three months lease deposit cover and early lease termination fee protection.
Like with any insurance, GAP insurance isn't for everyone, but if you want to avoid losing out in the event that your car gets stolen and never recovered or even just damaged beyond economic repair in a traffic accident then GAP insurance may be for you.
Available to cars and vans purchased in the last 90 days, the cost of GAP insurance is less than you think. Get a quote now.
