Login£11,200
Market value at loss,
covered by your
motor insurer
covered by your
motor insurer
£5,300
Possible shortfall amount,
for your account
…and save when you buy directly from us
There are various types of Gap Insurance available in the market, and it’s often difficult to decide which option would best suit your particular circumstances.
Combined Return to Invoice Gap Insurance will cover the difference between what you paid for your car when you bought it or the outstanding finance amount, and its market value at the time of the total loss, up to a maximum of £50,000, subject to the policy terms.
Lease/Contract Hire Gap Insurance will pay the difference between the market value of your car at the time of the total loss, and the outstanding balance of the lease or contract hire agreement, subject to the policy terms, plus up to £2,500 towards your first three month’s cost of rental.
Call us to find out more
Or, click here for more information
Gap Insurance provides you with essential protection against your car depreciating between the time you bought it and when it is stolen or damaged beyond repair.
Your motor insurance will typically pay a settlement amount equivalent to the market value at the date of loss. This can leave you with a shortfall when it comes to replacing your car, or worse, having to continue to pay the finance contract deficit.
Gap Insurance is designed to cover this shortfall to ensure you’re not left out of pocket… and for the many thousands of Click4Gap policy holders who’ve suffered the total loss of their car, it’s been a life saver!
A car typically depreciates the moment it leaves the showroom, and continues to depreciate year after year.
Let’s say for example that you purchased a car then, a year or two later, it’s written off. Your motor insurer will pay a settlement amount equivalent to the market value on the day it was written off.
That means you could well be out of pocket by a significant amount… and if you financed your car, leased it, or took out a contract hire agreement, your outstanding balance could be even more when you take early settlement costs and interest into account.
If you had Gap Insurance however, this amount would be covered, subject to the policy terms, and you’d be left free of this debt to look for a replacement.
Have a look at the illustrative examples below to see how this could impact you.
Select the tab that best indicates how you funded your vehicle to see what may need to be covered if it’s written off or stolen, and declared a total loss.
Possible shortfall amount,
for your account
If you paid £16,500 cash for your car and a year or so later it’s declared a total loss, after your motor insurance pay-out you could have a shortfall of as much as £5,300. If you have Gap Insurance, this shortfall would be covered in total up to an amount of £50,000, subject to the policy terms, plus up to £1,500 for dealer-fitted accessories and £250 towards your motor insurance excess.
Buying online, directly from Click4Gap, there’s no additional costs meaning you could make significant savings.
We won’t charge you if you need to make an amendment to your policy at any stage during its lifetime.
You have 30 days to decide if this cover is for you and, as long as you’ve made no claim during this time, your premium will be repaid in full.
Our experienced claims advisors will arrange for your claim to be paid out within days of it being registered, and we'll pay your claim directly to you!
There is no mileage limit once your policy starts, so you can drive as many miles as you like or need to, and continue to benefit from our full protection.
If you decide to cancel at any stage after 30 days, you’ll be entitled to a pro-rata refund, less a small administration fee, as long as you haven’t made a claim.
Gap Insurance is a valuable addition to your motor insurance cover, especially if you’re concerned about how much your car might depreciate after you buy it… and, if it’s a total loss, how you would cover this shortfall as well as paying for a replacement.
If your car was financed, or you took out a lease or contract hire agreement, this shortfall may well be significantly more. And, if you decided to finance with a balloon payment at the end of your contract period, you may well face serious financial difficulty.
For all of these situations, there’s a Click4Gap Gap Insurance solution that will cover the shortfall and ensure you won’t have to compromise when it comes to replacing your vehicle.
If you’re fortunate enough not to be concerned about covering your car’s shortfall in the event of a total loss, then you might decide you don’t need to consider Gap Insurance.
If you’ve paid cash for your vehicle, or you paid cash with a substantial deposit, you may decide that you’ll cover the gap yourself, even though this could mean you’ll be out of pocket, and may well face a significant shortfall when it comes to replacing your vehicle.
If your motor insurer has offered you new-for-old cover during your car’s first year since registration, then car Gap Insurance during this period might not be required.
There are a few different types of policy you can choose from when taking out your Gap Insurance cover with Click4Gap, these depend largely on how you intend to fund the purchase of your vehicle.
If you paid cash for your vehicle, or paid a sizeable deposit, or if you financed it, Combined RTI Gap cover will pay out the shortfall between the cost of your vehicle and the market value at the point of claim, which is the amount your motor insurer will cover. This is cover that will protect you no matter if you use your vehicle for private use or for business.
If you leased your vehicle or it’s under a contract hire agreement, Lease/Contract Hire Gap Insurance will cover you for the shortfall on your lease agreement, after your motor insurer settlement. If, for any reason, you change your vehicle within the first 90 days from the start date, we will also arrange to transfer your cover to your new vehicle without hassle or charge.
There are a few reasons that a policy may not provide cover, or a vehicle might not be eligible for cover. These include:
You’ll also find answers to your questions
by following these useful links
© 2022 CLICK4GAP
CLICK4GROUP Is a trading name of Future45 Limited
Future 45, Warwick House, Roydon Road, Harlow, Essex CM19 5DY
Company Registered No. 5407413 | Data Protection No. 933878X | Authorised and Regulated by the FCA No. 461102
© 2004 – 2023 Click4Gap
