GAP Insurance Explained

How does it work?

If your car is written off by your insurer due to an accident, flood, fire or theft, they'll offer you a settlement at the value of your vehicle when it was written off.

This means there could be a big difference between your settlement and the amount you paid to purchase the vehicle, or the amount remaining on your finance agreement because of depreciation in vehicle value.

GAP Insurance covers you for this difference, making replacing the vehicle you just lost much more affordable.

Can you give me an example?

You paid £27,000 to purchase your car. After a period of time, your vehicle is written off. Your motor insurer pays out the market value of the vehicle at the time, which could be £20,250. A GAP pay-out of £6,750 makes up the difference.

What is included?

Helps make a like-for-like replacement vehicle more affordable.

Cover for the remaining amount on your finance agreement if your vehicle is written off.

Protection from the financial impact of vehicle depreciation.

Helps you out if loan-to-value ratio causes you to owe more on your finance agreement than the vehicle was worth.

Our GAP insurance also includes a contribution towards your motor insurance excess, as well as help with hire car costs. We know that everyone needs as much help as possible when disaster strikes which is why our GAP insurance is designed to make things as easy as possible, including stress-free online claims.

What is covered?

Vehicles at 8 years or 80,000 miles at inception.
Vehicles valued £5,000 - £150,000.
£500 contribution towards the excess on your motor insurance.
£20 per day contribution towards hire car costs for up to 7 days.
£400 guaranteed minimum payment on every valid claim.

Cover in the UK and Europe if motor insurance provides equivalent cover for European driving.
Maximum claim of £75,000.
Hire/reward included (taxis and driving tuition).
One-off fixed benefit of £150 in the event of a non-fault incident, where your vehicle is not a total loss.

Significant exclusions

Claims made when motor insurance is invalid; outstanding premiums on motor insurance.
Items such as registration fees, delivery costs, warranties and fuel are not covered.

How to make a claim

Claims on our GAP insurance policies are handled through the AutoProtect App.
Simply download the App, input the information we need and we'll get back to you with a decision on how your claim will be processed.

Get started today

Speak to us when you're ready to make a purchase if you'd like to add GAP insurance protection for your new vehicle. Peace of mind is just a few moments away!

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^{Administered by: AutoProtect (MBI) Limited.}
^{AutoProtect (MBI) Limited is authorised and regulated by the Financial Conduct Authority.}
^{Financial Services Register No. 312143. AutoProtect (MBI) Limited is a Credit Broker not a Lender.}

^{This information is for promotional purposes only.}
^{It is not advisory and does not demonstrate the full terms and}
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Financial Conduct Authority

Platinum Motor Group is a trading name of Renrod Limited. Registered Office, Platinum Motor Group, Unit 12 Meridian Business Park, North Bradley, Trowbridge. BA14 0BJ. Registered in England No. 1210595. VAT Registration No. 821 9379 14. Renrod Ltd t/a Platinum Motor Group is authorised and regulated by the Financial Conduct Authority. FRN: 689306. We are a Credit Broker not a Lender and can introduce you to a limited number of lenders. An introduction to a lender does not amount to independent financial advice. Our approach is to introduce you first to the relevant manufacturer supporting finance company. If they are unable to make you a finance offer, we will inform you and request your permission to submit a proposal to another of our lenders. Please ask for a list of our funding partners. We do not charge a fee for our services. We will receive commission from the lender for introducing you which will either be a fixed fee or fixed percentage of the amount you borrow. The lenders we work with will pay commission at different rates. The exact amount of finance commission will be provided to you in good time prior to conclusion of your finance contract. We receive commission as a proportion of premium paid from our insurance provider if you decide to enter into an agreement with them. Our manufacturer supporting finance companies also provide funding for our vehicle stock and financial support for our training and marketing. However, any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. For the sale of general insurance, Renrod Ltd t/a Platinum Motor Group is an Appointed Representative of Automotive Compliance Ltd (FRN 497010, which is authorised and regulated by the Financial Conduct Authority). Automotive Compliance Ltd’s permissions as a Principal Firm allows Renrod Ltd t/a Platinum Motor Group to act as an agent on behalf of the insurer for insurance distribution activities only. You can check this on the FCA Register by visiting the www.fca.org.uk

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GAP Insurance Explained

How does it work?

Can you give me an example?

What is included?

What is covered?

Significant exclusions

How to make a claim

Get started today

Financial Conduct Authority

Financial Conduct Authority

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