Frequently Asked Questions

Why do I need GAP Insurance?

For the tens of thousands of GAP policy holders whose cars have been declared a total loss, GAP insurance saved them thousands of pounds.

GAP Insurance provides essential protection against car depreciation. If your car is stolen or damaged beyond safe or economical repair, your motor insurance typically settles the value of your car on the date of loss, and not what the car was worth originally. GAP insurance is intended to pay this shortfall, ensuring sure you’re not out of pocket should you make a claim. Think of it as valuable top-up to your motor insurance.

Many people are unaware of the fact that their car depreciates by about 20% as soon as they drive it off the forecourt and that it will continue to depreciate considerably year on year.

So let's say for example you purchased a car for £10,000, and unfortunately a few weeks after you purchased it the car was written off.

Your motor insurer will pay what the car is worth on the day it was written off. Let's say they value your car at £8,000 when it was written off. That means you’re out of pocket by £2,000. Having a GAP Insurance policy means you’d be able to make a claim for the £2,000 and wouldn’t be out of pocket.

Whilst GAP Insurance is not a legal requirement in the UK, it’s worth keeping in mind that around 620,000 vehicles are declared a total loss each year in the UK, according to MoneySupermarket.

Click4GAP have a policy to suit every car driver, whether you own the car outright, it is still under finance, leased or contract hired. Additionally, it doesn’t matter if your car is new, nearly new, or a number of years old.

We hope that you never have to claim on your policy, but it's great to have the peace of mind that we're there if you do need us.


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