In Gap Insurance what Does Give Indemnity Mean?

Do you know what give indemnity means in gap insurance?

When it comes to gap insurance it would be impossible to write and list every eventuality upon which your cover is based.

For example does your gap insurance policy cover you if your vehicle stolen with the use of the keys?

This may sound like a simple question buy the answer most definitely is not.

Yes your vehicle is covered if your keys you have taken due care and attention and if someone has without your consent taken your keys and then subsequently stolen your vehicle.

That said your gap insurance policy and for that matter your own motor insurance policy would nto cover you if your vehcle was stolen with the keys which you had left in the ignition with the door open and went for a walk to return three hours later and find that your vehicle has been stolen.

So rather than have reams and reams of conditions in most cases your gap insurance policy will simply state something along the lines of … we will honor your clam  are happy to settle your claim so that ” your own motor insurance company give you indemnity “.

So what does this really mean?

Simply put it means that what ever the circumstances,

  • if you are driving,
  • if a named named driver is driving
  • if an accident is your fault
  • if an accident is someone else’s fault
  • if your car is stolen with the ue of the keys
  • if your vehicle is stolen without the use of the keys

It will make absolutely no difference, providing that your own motor insurance company look at the claim and decide that it is a genuine claim and that nothing fraudulent is occurring and are happy to settle then your gap insurance policy will too.

So if you are driving while under the influence of drugs, alcohol, speeding at 200 miles an hour your own motor insurance company will not be able to settle the claim and therefore as there would be not top up required from your gap[ insurance policy they would not be able to settle as well.

So in summary if your own motor insurance company will settle then your gap insurance supplier  will too.

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