Frequently Asked Questions

Gap Insurance gives you with vital protection against your car losing value between the date you bought it and the date it’s declared a total loss.

Your motor insurer will normally settle with you at an amount that reflects its market value on the date of loss. This could very well result in you having to fund a considerable shortfall when you want to replace your car, or even having to settle the outstanding balance on your finance contract.

Your Gap Insurance is designed to cover this shortfall, subject to the terms of your policy, putting you back in the same financial position you were in before you bought your car. For thousands of policy holders with Gap Insurance who’ve suffered such a loss, it’s been a welcome financial support.

Cars depreciate from the moment they first leave the showroom floor, and continue to depreciate every year. During the first 3 years of a car’s life, much as 60% its value might be lost.

There are many different types of Gap Insurance in the market, and it’s often difficult to decide which option would best suit your particular circumstances. This information should assist you.

If you paid cash for your car, with or without a deposit

Combined Gap Insurance Plus covers the shortfall between what you paid for your car when you bought it and the amount your motor insurer will pay-out, which is its market value at the time of the total loss.

If you financed all or part of the cost of your car

Combined Gap Insurance Plus will pay you the difference between the outstanding balance on your finance account, and it’s market value at the time of the total loss.

Gap cover is a valuable addition to your motor insurance, particularly when you consider your car’s depreciation and, if it’s declared a total loss, how you would manage to pay for this shortfall when it comes to buying another one.

If you financed your car, this shortfall could be even more. And, if you financed your car with a balloon payment at the end of the contract, you could face a major financial crisis.

In each of these instances, APG Cover has a Gap Insurance solution that will pay out the shortfall, subject to the terms of your policy, and ensure you won’t have to settle for less when it comes to buying a new car.

• If you’re fortunate enough not to be concerned about covering the shortfall if your car’s stolen or written off, then you may decide you don’t need Gap Insurance.
• If you’ve paid cash for your vehicle, or you put down a hefty deposit, you may decide that you’ll take the risk and cover the gap yourself, even this means you’ll be out of pocket and still have to pay to replace your vehicle.
• If you selected new-for-old cover on when taking out insurance during your car’s first year after registration, then you may feel that car Gap Insurance isn’t necessary, although that will leave you at risk of covering the shortfall for the balance of the time you have your car.

The different kinds of Gap Insurance are largely based on how you plan to fund your vehicle purchase.

Combined Gap Insurance Plus

If you paid cash for your vehicle, with or without a big deposit, or if you financed its purchase APG Cover’s Combined Gap Insurance Plus will pay you the shortfall between what you paid for your car, and the amount your motor insurer will settle at, which is its market value on the date of loss. And, this is cover that will protect you whether you use your vehicle for private use or for business.

There are a few exclusions that could result in a policy not providing cover. In addition, there are some cars that may not be eligible for cover. These include:

• If you paid cash or financed your purchase, and the vehicle is more than seven years old, or has travelled over 80,000 miles, or does not appear in Glass’s Guide, or is valued at more than £75,000, it will not be considered for cover.
• If you took out a lease or contract hire agreement, and the vehicle is more than ten years old, or does not appear in Glass’s Guide, or your monthly rental payment is more than £2,000 per month, it will not be considered for cover.
• We do not cover any commercial vehicles or vehicles designed to carry more than eight people.
• If your vehicle is not covered by a comprehensive motor insurance policy, or the driver of your vehicle at the time of the loss is not listed as a named driver on this motor insurance policy, any claim you make will not be valid.
• Your policy will not provide cover if the driver of your vehicle at the time of loss does not hold a valid driving license, or is intoxicated, or is under the influence of non-prescription drugs.

Low premiums

Buying online, directly from APG Cover means there’s no additional costs, resulting in big savings on your Gap cover.

30 day cooling off period

You have 30 days to decide if this cover is for you and, and as long as you haven’t made a claim during this time, your total premium will be refunded.

No age or mileage limit once cover starts

We don’t apply any age or mileage limit once your Gap cover starts, so you can drive as many miles as you like and continue to benefit from full protection.

No hidden charges

We won’t charge if you need to make an amendment to your policy at any time.

Quick and easy claims settlement

Our experienced claims advisors will arrange for your claim to be paid out within days, directly into your account.

No obligation cancellations

If you decide to cancel at any stage after 30 days, you’ll be entitled to a pro-rata refund, less a small administration fee, as long as you haven’t claimed.

If you’re looking to protect yourself and your car with trusted Gap Insurance cover that’s built to suit your needs, APG Cover will give you the confidence that comes with knowing you’re fully protected and supported should the worst happen and your car’s written off or stolen.

Our UK-based Customer Service Team are ready and waiting to assist you on 0208 543 6006 during office hours, and via email or our online Live Chat. You can be confident they’ll take the time to understand your circumstances and explain clearly and simply what is needed.

Call us Monday – Friday, 9am to 5pm

0203 921 0627

Email us anytime we’ll get back to you during office hours

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Gap Insurance will protect you against financial risk if your car is stolen or written off, and your motor insurer declares it a total loss.

Over 200 cars are stolen every day in the UK, and may hundreds more are written off as a result of accident, fire or flood. If this were to happen to you, you could find yourself facing a massive bill to replace your car. Or, if you financed it, took out a lease or a contract hire agreement, you’d have to pay back the balance of the finance agreement, early settlement penalties and interest. Consider for a moment, if this is a risk you’re prepared to take.

That’s where APG Cover Gap Insurance comes in, by settling the shortfall between what your motor insurer is prepared to pay, which will be the market value at the time of loss, and what your car cost you if you paid cash, or if you financed it, took out a lease of contract hire agreement, it’ll cover the outstanding balance on your finance contract.

Your motor insurance policy will only settle the market value of your car at the time of loss. This does not take into consideration any depreciation that has taken place since you bought it.

Consider for a moment that the average car in the UK loses up to 40% of its value in the first year,

and up to 60% after 3 years, this could leave you with considerable difference between what you paid for your car, and its market value at the time of loss. The shortfall could be even bigger if you financed your car, or took out a lease or contract hire agreement, and the outstanding balance on your finance account includes early settlement penalties, interest and other charges.

APG Cover’s Gap Insurance will take care of this shortfall, by paying the difference between your car’s market value at the time of loss, and what you paid for your car, or the outstanding balance on your finance agreement.

When you consider that cars can depreciate by up to 40% in the first year, and by as much as 60% by the 3rd year, the financial impact if it’s stolen or written off is potentially huge… and certainly something that most of us wouldn’t have the funds at hand to cover.

Gap Insurance will protect you against that risk, by paying out the difference between what your motor insurer is prepared to pay and what you paid for your car, or if it was financed, the outstanding balance on your account … leaving you free to get on with your life.

Gap Insurance should be taken out within 180 days of buying your car… and there’s  no age limit or mileage limit once your cover starts.

Combined Gap Insurance Plus was designed exactly with this in mind, and provides cover for the difference between the market value of your car at the time of its loss and the outstanding balance on your finance account.

The sooner you take out Gap Insurance cover, the sooner you can sit back and enjoy your driving experience.

It’s quick and easy to get a quote from us, and your cover can commence from the moment your premium is received. A few simple steps is all it takes… and you’ll be comforted knowing you’ve covered this risk.

You can pay via our secure payment system using any major credit or debit card, at no extra cost. Or, if you prefer you can use our convenient monthly payment option, by paying just 20% deposit when you take out the policy, followed by nine affordable, monthly payments.

If you select the monthly payment option, there’s no credit check, no direct debit, no credit agreement and no change in premium if interest rates fluctuate.

Or click here for more information

If you decide, within the first 30 days of purchasing your policy, that you want to transfer your cover to another vehicle, or during the first year of cover your vehicle is written off by your motor insurer and you get a replacement vehicle on a “New for Old” basis, you’ll be issued with a new policy. Please contact our Customer Service Team on 0208 543 6006, during office hours, to transfer the remaining portion of the policy to the new vehicle.

Please note that the policy is not transferable to any other person or business.

Provided the driver is licenced and is listed as a named driver on your motor insurance, your Gap cover will be in force.

For Combined Gap Insurance Plus, your car should be aged up to 7 years when you take out your policy however, there is no upper age limit after your cover starts.

Your APG Cover Gap Insurance is valid in the UK, Northern Ireland, the Isle of Man, the Channel Islands, member countries of the European Community and any other country where an International Motor Insurance Green Card for your car is effective at the time of loss.

You are covered outside of the UK for up to 90 days a year.

You can get a quote for Gap Insurance in moments on this website. Just answer a few simple questions and we’ll give you a quote instantly. You can accept there and then, and your cover can start as soon as your premium is received.

Or, if you want more information, just call us on 0208 543 6006 during office hours, or use the chat link on the bottom right of this screen and we’ll be happy to assist you.

The policy terms for your APG Cover Gap Insurance is available at the link below. It will provide all the information you need however, if you have any further questions, our UK-based Customer Service Team are on hand to help you during office hours.

Policy Wording for Combined Gap Insurance Plus

Combined Gap Insurance Plus Policy Wording

Policy Wording for Lease/Contract Hire Gap Insurance

Lease/Contract Hire Gap Insurance Policy Wording

If you’d like a copy of your existing policy wording, please email us at email@apgcover.co.uk or call us on 0208 543 6006 during office hours.

Our UK-based Customer Service Team are available and happy to assist you during office hours.