What is GAP Insurance?

GAP Insurance protects you against unexpected financial loss on your car in the event of an accident, fire or theft which results in a total loss.You will be covered for the difference between your motor insurance pay out and what you paid for the car, including any finance repayments outstanding t&c'apply. So if your car is written off, or stolen and not recovered, you are spared the worry of having to fund the purchase of a like-for-like replacement.

How does it work?

If you buy a car for €20,000, you may only get €12,000 from your motor insurer after a write-off a few years later. GAP Insurance covers you for the difference of €8,000 between the insurance pay-out and the amount you actually paid for it, or still owe on finance.

Benefits of GAP Insurance

1. Protection: Covers you against unexpected financial loss on your vehicle.
2. Finance agreement: Covers outstanding finance if greater than net invoice price
3. Excess Covered: Covers your excess paid as part of your motor insurance claim
4. Accessories: Factory- fitted accessories are covered
5. European Cover: The policy provides cover within the EU and the UK
6. Three-Year Cover: Your GAP insurance policy runs for 36 months.

Eligibility

• Vehicle must be insured under comprehensive motor insurance policy
• New & used vehicles covered (Under 6 years & 100,000km)
• Net Invoice price under €100,000