GAP Insurance

All Makes and Models Available

If you haven't heard of GAP insurance before, here is some information for you:

GAP stands for Guaranteed Asset Protection and GAP insurance covers the 'gap' between what you actually paid for your vehicle, and what it is worth at the time your vehicle is written-off. The idea is that, for a one-off payment, the GAP insurance company guarantees that, in the event your car is written off, you won't be out of pocket.

What are the types of GAP Insurance?

There are 2 main types of GAP insurance: 'Back to Invoice' and 'Vehicle Replacement'. Both are suitable for cars owned outright or on finance. Vehicle replacement covers the cost of replacing the car even if the price has increased. This can be handy where you've had discounts on the original purchase price.

With both Back to Invoice and Vehicle Replacement, if you have finance, you'll be able to clear it and any money remaining can be used on your next car.

Some GAP providers also offer "finance only" GAP insurance and, whilst this leaves you without any outstanding finance, it can be limited as you wouldn't have any money left over to use against your next car.


Why would I need any of this? Shouldn't my car insurance company pay me in full?

Unfortunately not, as most car insurance policies only cover the value of the car at the time it was written off. In insurance terms, this is called the 'retail market value at the point of total loss.' As almost all cars lose value or depreciate, this will be much less than you originally paid for your car.

Where can I buy GAP Insurance from?

We've arranged a deal on GAP insurance just for Motorfinity customers. Use the ALA GAP Insurance voucher code MFINITY10 via clicking here to get 10 per cent off the standard price of a policy.