The insurer, Red Sands Insurance Company (Europe) Ltd., is the specialist
in UK motor related insurance products.

• Member of The Association of British Insurers (A.B.I.)
• A voluntary member of the Financial Ombudsman Scheme
• European Regulated
• Underwrite one of the UK's largest Mechanical Breakdown Insurance books
• Your policy is protected by the Financial Services Compensation Scheme

For further information about Red Sands please visit www.redsands.gi

If your car is stolen or written-off, this policy will pay the difference between the total loss amount you receive from your motor insurance and the loan agreement settlement with your lender

No. Your dealer or lender may put you under pressure to buy from them as it is a good source of commission (as is evident from the increased premiums usually charged).

When an insured person has claimed under their comprehensive and/or fire and theft motor insurance policy and the claim has been settled, with the vehicle forfeited and a total loss payment made.

You can choose a claim limit from £2500 up to £25000

Statistically, your insurer will depreciate you car by up to 60% over three years.
Remember, the value of your car could be a lot less than you must pay to settle your loan.

EXAMPLE ONE
Car Cost £7,000
Deposit £1000
Amount borrowed £6,000.
Your Motor Insurer pays you £5,050.
You owe £5,800 to settle the outstanding finance
BAD NEWS! You are £750 out of pocket
GOOD NEWS! Finance Gap will pay £750

EXAMPLE TWO
Car Cost £15,000
Deposit £300
Amount borrowed £14,700.
Now we’ll show you how Finance Gap can pay the difference even if the interest charged makes the settlement higher than the cost of the car
Your Motor Insurer pays you £13,500.
You owe £15,200 to settle the outstanding finance
BAD NEWS! You are £1700 out of pocket
GOOD NEWS! Finance Gap will pay £1700

New for old replaces like for like, so your insurer will source your current model from the cheapest place. Wouldn’t you prefer the latest model or perhaps even a completely different car?
Don’t forget, after the first year you will not only lose the limited cover your insurer offers - you will be unable to purchase Finance Gap as it can’t be taken a year after purchase. So yes, Finance Gap is definitely of value if you have ""New for Old"" from your Motor Insurer.

Cover is available for up to five years, or when you sell or transfer ownership of the vehicle, whichever is the sooner.

No, not at all. The only stipulation is the Gap Insurance Policy must be in the name of the "Registered Keeper" (that's the name on the V5/log book for the car).

Take a look at the following example to help you decide. Your car is stolen or written-off after 18 months: The Purchase Price was £10000 and your loan was £9800 Insurers depreciate the car to £6800 and your loan settlement is £8600
Your FINANCE GAP policy pays out £1800 Most people pay at least £400 a year for Motor Insurance, so three years cover would cost around £1200.
In our example the insurance company paid just £6800, do you perceive this as good value for money? £1200 for a claim of £6800! Your FINANCE GAP paid £1800, which one looks better value?

You can purchase the policy up to 90 days

Finance Gap pays the difference between the amount your Motor Insurance pays in the event of a total loss, and the loan agreement settlement. The claim limit is the maximum amount the Gap Insurance will pay in the event of a claim (up to £25,000)

The policy terms and conditions state "We will pay the financial shortfall between the amount you receive from your Motor Insurance policy and your Loan Agreement Settlement. So effectively if the motor insurance pays out, Finance Gap Insurance will also pay out.

Our Finance Gap Insurance is available for cars that are up to 7 years old at the "start" of policy.

The premium quoted is the total cost (including insurance premium tax) for the entire term. No catches, no extras, no hidden charges.

Yes, if your car is a "Parallel" import. No if your car is a "Grey" import. See ?What is a Grey Import? for definition.

Conditional Sale, Hire Purchase and Motor Loans. Return To Invoice Gap Insurance is the appropriate policy for all other forms of loan agreements

Simply contact us, supply any information which may be needed to establish the amount of any payment under this insurance and notify the police as soon as reasonably possible. Then wait for the cheque!

As you are aware cars are very safe, designed to crumple in the event of impact - unfortunately this results in more vehicles becoming total loss.
OVER 500,000 VEHICLES BECOME TOTAL LOSS?S EACH YEAR

When was the last time you rushed to the sound of a car alarm?
CAR CRIME IS 30% OF ALL CRIME

Yes you would be covered under the policy, but only if the driver was within the legal limit for alcohol consumption.

The date of purchase is the date you collected the car.

A vehicle that does not comply with European Union vehicle type specification and which is imported from outside the UK (usually Japan)

Parallel imports will have been produced for a European Member State and will conform to European Wide Type Approval.

Simple, we have been selling Gap insurance "wholesale" to the motor trade for twenty years. Our web-site allows you to buy direct and pay the wholesale premium.