GAP Insurance
Guaranteed asset protection insurance is increasingly popular for today’s motorists. It ensures that if a vehicle is stolen or written off as a total loss, where most motor insurers will only pay out the current market value of the car, the full amount paid for the vehicle is recovered.
Why choose GAP insurance?
With GAP insurance, if your customer is involved in a write-off they will receive the difference between the amount paid out by their insurer and the purchase price of the car. GAP insurance is especially valuable for customers with newer cars, where the insurer is less likely to pay out the previous market value of the vehicle.
A range of tailored cover levels
- Retail Price Protection
The motorist receives the retail price of the car at the time of purchase. - Return to Invoice
The motorist receives the balance of any outstanding finance due on their account. - Replacement Vehicle
In the event of a vehicle being written off the motorist receives an equivalent vehicle as of the time of purchase, even if the price has increased during that period.
Benefits include:
- Improve customer retention rates
- Introduce new revenue streams
- A greater customer experience with your business
- Opportunities to enhance your product range
- An insurance product tailored to your business