My Policies£11,200
Market value on the
date of loss, covered
by your motor insurer.
£5,300
Estimated shortfall
amount, which your
Gap Insurance will cover.
You can take out Gap Insurance from APG Cover up to 180 days from the date you purchased your vehicle.
You’ve just had your vehicle delivered, or it’s arriving any day now. This shiny, new acquisition is your pride and joy… and very likely one of your biggest financial investments. But what if it’s stolen and not recovered, or damaged in an accident and beyond repair?
Your motor insurer is likely to declare it a total loss, and pay you a settlement that reflects your vehicle’s value on the date of loss, which will probably fall far short of it’s value when you bought it.
If you took out finance and have to end your contract prematurely, it’s likely to attract interest and early settlement charges on top of what you still owe.
You could find yourself facing a bill of thousands of pounds, and still have to fund a replacement vehicle.
The good news is, if you take out APG Cover Gap Insurance, you’ll have this covered, subject to the terms of your policy.
Up to £75,000 Gap Insurance shortfall cover
Up to £1,500 dealer-fitted accessories cover
Up to £500 motor insurance excess
Up to 7 days vehicle replacement cover
Your APG Cover Gap Insurance will cover your vehicle for:
We all know that vehicles generally depreciate the moment they drive off the showroom floor, and they continue to depreciate year after year.
Let’s take an example. If your vehicle‘s written off a year or two after you purchased it, you probably feel quite comfortable that you’ll be covered for this lost by your motor insurer. However, they’ll only pay you a settlement amount equivalent to the market value of your car on the day it was written off.
This means you could well be out of pocket by a significant amount… and if you financed your vehicle, your outstanding amount could be even more, when you take early settlement costs and interest into account.
If you had Gap Insurance however, this amount would be covered, subject to the terms of your policy, and you’ll be free of this debt, and looking forward to finding a replacement.
Just take a look at the examples below to see how this could impact your finances.
Select the funding method below that best reflects your situation to see the illustrative examples of the financial impact if it’s written off or stolen, and declared a total loss.
Market value on the
date of loss, covered
by your motor insurer.
Estimated shortfall
amount, which your
Gap Insurance will cover.
If you paid £16,500 cash for your car and a year or two later it’s declared a total loss, your motor insurance pay-out could fall short of the purchase value by as much as £5,300.
However, if you have Gap Insurance this shortfall will be covered up to £75,000, subject to your policy terms. In addition you’d get up to £1,500 for dealer-fitted accessories and up to £500 towards the excess charged by your comprehensive motor insurer.
APG Cover Combined RTI Gap Insurance Plus will cover a shortfall of up to £75,000, to make up the shortfall between what your motor insurer will pay, which is the market value at the time of loss, and your vehicle’s value when you bought it, subject to the terms of your policy.
APG Cover Combined RTI Gap Insurance Plus will cover the outstanding balance on your finance account, or the shortfall between what your motor insurer will pay, which is the market value at the time of loss, and your vehicle’s value when you bought it, whichever is the greater.
Gap Insurance is a valuable addition to your motor insurance, covering the portion of loss that comprehensive cover won’t.
It’s especially worth considering if you’re concerned about your vehicle’s depreciation, particularly when you think about the impact on your finances if it were ever declared a total loss.
No matter if you’ve paid cash for your vehicle, or financed it, there’s a Gap Insurance solution designed for you.
If you’re fortunate and aren’t concerned about footing the bill for the shortfall if your vehicle’s ever declared a total loss, then you might decide that you don’t need Gap Insurance.
If your motor insurer offers new-for-old cover during the first year after registration, while you won’t need Gap protection during this period, this would also mean you won’t have any Gap cover for the remaining years you keep your vehicle, so this is also worth considering.
Call us today for your Gap Insurance quote
Or, click here for more information
You’ll get crucial financial protection against depreciation and its impact if your vehicle’s stolen or damaged, can’t be economically repaired, and is declared a total loss by your comprehensive motor insurer.
Your motor insurer will generally only pay-out an amount that reflects your vehicle’s market value on the day of loss. This means you could be left facing a significant shortfall that you’ll need to cover yourself.
APG Cover’s Gap Insurance is designed to make sure this doesn’t happen to you, by covering this shortfall. For many policy holders this has been a life-saving financial decision they’re glad they made.
If you decide within 30 days that you don’t need to cover any shortfall from your motor insurer, we’ll return your premium to you in full as long as you haven’t made a claim.
Our professional, UK-based claims advisors will ensure you’ll have no hassles with your claim, and we’ll pay it out directly into your bank account within days!
We don’t put mileage limits in place once your cover has started, so you can drive as far as you need to and continue to benefit from our complete protection.
There are no additional or hidden costs to consider when you buy Gap insurance with APG Cover.
If you need to amend your policy at any stage during its lifetime, we don’t make any charge at all. Just give us a call with the details, and we’ll happily update it for you.
You can cancel after 30 days, with no questions asked. We’ll give you a pro-rata refund, less a small administration fee, as long as you haven’t claimed.
There are a few reasons a policy may not provide cover, or a vehicle might not be eligible for cover. Some of these include:
Full details are in the policy wording.
You’ll find answers to more questions by following the helpful links below
© 2024 APGCover
Future45 Limited, trading as APG Cover
Authorised and regulated by the Financial Conduct Authority . FRN 461102
Future 45, Warwick House, Roydon Road, Harlow, Essex CM19 5DY
Company Registered No. 5407413
© 2004 – 2024 APG Cover
Vehicles eligible for cover by APG Cover Combined RTI Gap Insurance Plus
The following vehicle makes no more than 7 seats: Abarth, Alfa Romeo, Audi, BMW, Citroën, Cupra, Dacia, DS, Fiat, Ford, Genesis, Honda, Hyundai, Infiniti, Jaguar, Jeep, Kia, Land Rover, Lexus, Maserati, Mazda, Mercedes-Benz, MG, Mini, Mitsubishi, Nissan, Opel/Vauxhall, Peugeot, Polestar, Porsche, Renault, Seat, Skoda, Smart, SsangYong, Subaru, Suzuki, Tesla, Toyota, Volkswagen, Volvo.
