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BMW Gap Insurance

A giant of the automobile industry since 1916, BMW has been producing some of the world’s finest cars for over 100 years. For many, owning a BMW is still the ultimate symbol of wealth and success.

There’s no getting away from it – BMWs attract attention. But unfortunately, this can make them a target for thieves. Even if your insurance policy covers theft, in the event of a claim you may still find yourself out of pocket. New models depreciate very quickly, and most insurance companies will only pay out for the car’s value at the time of a claim. With a high-end vehicle such as a BMW, the difference can be many thousands of pounds.

You’ll find some additional information below on BMW Gap Insurance and how it can help you avoid financial stress if your car is declared a total loss.

What is BMW Gap Insurance?

BMW Gap Insurance covers the depreciation of your car from the time you purchase the vehicle, to the moment of loss. You’ll be reimbursed with the difference between the market value paid by your motor insurer, and the purchase value of your vehicle when you bought it. Covering this shortfall means Click4Gap ensures you won’t be left out of pocket.

Alternatively, if your vehicle is leased, or on a contract hire agreement, we’ll pay the difference between the market value of your car at the time of loss and the outstanding balance of your lease or contract hire agreement.

To get more information on this, check out our detailed FAQ guide on gap insurance, or give us a call on 0208 819 3424, weekdays between 9am and 5pm.

What are the benefits of BMW Gap cover?

Taking out BMW gap insurance gives you total peace of mind with a policy that includes many extra benefits. Your BMW Gap Insurance benefits include:

  • Cover from day one
  • Covers all named drivers at no extra cost
  • Covers vehicles up to £75,000
  • Covers your car excess up to £250
  • Covers dealer-fitted accessories up to £1,500
  • No mileage restrictions during the lifetime of the policy
  • Cover if your vehicle is stolen with the keys
  • Cover for personal and business travel
  • Cover when travelling outside the UK
  • No excess on claims
  • 30-day money-back guarantee

What types of BMW Gap cover are there?

There are various kinds of BMW Gap Insurance, and it’s often difficult to decide which option best suits your personal circumstances. Click4Gap provides complete cover for all of these different needs:

You paid cash for your car or financed it

Combined Return to Invoice Gap Insurance covers the difference between the purchase value of your car when you bought it, and its market value at the time of the loss. Or, if you financed it, the difference between what you paid for your car and the outstanding settlement amount on your finance contract.

Click here for more information on Combined Return to Invoice Gap Insurance.

You leased or contract hired your car

Leased/Contract Hire Gap Insurance covers the difference between the market value of your car at the time of loss, and the outstanding balance on your lease or contract hire agreement.

Click here for more information on Lease/Contract Hire Gap Insurance.

How much does BMW Gap Insurance cost?

The premium is calculated based on the value of your vehicle and the number of years of cover you select. You can choose to pay your premium as a once-off payment, or opt for our convenient monthly payment plan to make your cover more affordable.

When you consider the financial strain you may face if your car is declared a total loss, this is a small price to pay. Click here for a quick and easy quote.

For how long does Gap Insurance cover an BMW?

You can select your term of cover from Click4Gap for either a three or four year term, whichever suits you best.

BMW Gap Insurance – is it worth it?

A car depreciates from the very moment it leaves the showroom, and continues to decline in value year after year.

Let’s say, for example, that you purchased your car for £16,500. Then, some months 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. 

If the market value was just £11,200 that means you could be out of pocket by as much as £5,300, which would be for your own account. If you have Gap Insurance however, you’d be able to claim the £5,300 and wouldn’t be left out of pocket.

And, if your car is on a Lease or Contract Hire Agreement, your outstanding finance could be as significant as £17,000, leaving you facing a shortfall of as much as £5,500. With BMW Gap Insurance this amount would be covered, removing this burden from you.