Car Gap Insurance

Car Gap Insurance is the most popular form of Gap Insurance in the UK today. This is hardly a surprising statement, as of the 30 million vehicles on the UK roads, the vast majority of them are cars. The term ‘Gap Insurance’ can mean any number of different types of cover, however, at Aequitas Automotive Ltd the choice is made much more simple.

Which Car Gap Insurance?

The choices of gap insurance are fairly straightforward, and fall into four basic types:

Finance Car Gap Insurance – this will cover between the vehicle market value, and the amount required to settle a finance agreement tied to the vehicle. Other forms of ‘Finance Gap Insurance’ would be Negative Equity Finance Gap Insurance and Contract Hire Gap Insurance.

Return to Invoice Car Gap Insurance – will cover between the vehicle market value and the original invoice price you paid for the car.

Vehicle Replacement Car Gap Insurance – will cover between the vehicle market value and the cost of the equivalent replacement vehicle, even if this is higher than you original price you paid.

Agreed Value Car Gap Insurance – will cover between the vehicle market value and the value of the vehicle on the day you bought the policy.

Differences in Car Gap Insurance

As we have pointed out previously, there are differences between the car gap insurance policies offered by EasyGap and GapInsurance123.

The policies are underwritten by different insurers, who offer slightly different terms and conditions.

EasyGap Car Gap Insurance policies feature policy claim limits of up to £50,000, for vehicles up to £240,000 in value. Also, vehicles such as Aston Martin and Bentley can be covered, which are not normally allowed elsewhere.

GapInsurance123 Car Gap Insurance policies feature Return to Invoice and Vehicle Replacement Insurance for up to five years. Indeed Aequitas Automotive Ltd were the first UK company to announce the launch of these products for this length of time.

Car Gap Insurance as Easy as 1-2-3!

 

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