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Alloy Insurance

Damaging your Alloy Wheels can not only change the appearance of your car but can also effect the part exchange or re-sale value. With cover from as little as £149.00 do you really want to take the risk?

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Tyre Insurance

The introduction of puncture sealants and run flat Tyres has resulted in it becoming more and more expensive to repair a Tyre. With many modern Tyres now needing replacement after even just a slight puncture, Tyre insurance is becoming more and more important.

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Combined Wheel

Save money with a combined Tyre and Alloy Wheel Insurance policy. Please remember that while our policies can cover Run Flat and Standard Tyres as well as Diamond, Laser Cut and Painted Alloy Wheels we can not currently offer cover for split rimmed wheels.

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Scratch Insurance

Trolley dings, scuffs on the bumper and small dents from parking in a busy car park are all things that are somewhat unavoidable, however, with a Scratch & Dent policy you take away the annoyance of the cost to repair them.

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Smart Care

Smart Care Cosmetic Insurance combines three types of insurance in to one. Alloy Wheel Insurance to cover the costs of cosmetic repairs to your alloy wheels caused in everyday use.

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Gap Insurance

Take the risk out of Gap Insurance with a Total Loss Gap Insurance Policy. You don't need to worry about choosing the best level of cover or the best claim limit. This policy simply performs in the best way it can do.

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Alloy Insurance

Damaging your Alloy Wheels can not only change the appearance of your car but can also effect the part exchange or re-sale value. With cover from as little as £149.00 do you really want to take the risk?

Read More

Tyre Insurance

The introduction of puncture sealants and run flat Tyres has resulted in it becoming more and more expensive to repair a Tyre. With many modern Tyres now needing replacement after even just a slight puncture, Tyre insurance is becoming more and more important.

Read More

Combined Wheel

Save money with a combined Tyre and Alloy Wheel Insurance policy. Please remember that while our policies can cover Run Flat and Standard Tyres as well as Diamond, Laser Cut and Painted Alloy Wheels we can not currently offer cover for split rimmed wheels.

Read More

Scratch Insurance

Trolley dings, scuffs on the bumper and small dents from parking in a busy car park are all things that are somewhat unavoidable, however, with a Scratch & Dent policy you take away the annoyance of the cost to repair them.

Read More

Smart Care

Smart Care Cosmetic Insurance combines three types of insurance in to one. Alloy Wheel Insurance to cover the costs of cosmetic repairs to your alloy wheels caused in everyday use.

Read More
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What is GAP Insurance?  

 

GAP Insurance runs alongside your own fully comprehensive car insurance and protects you financially in the event that your vehicle is written off, following an accident, fire, flood or theft, by your car insurance provider.  

 

If your car is stolen or is written off then the difference between how much your car insurance policy will pay (normally the then, market value) and the price you originally paid for the car can be significant. You may also find a shortfall between the car insurance settlement and any outstanding lease or finance settlement. This is where a GAP Insurance policy can step in.      

 

In short, whichever type of GAP Insurance policy you buy is designed to cover potential shortfalls that can develop. These are caused by the depreciation of your vehicle over time. Effectively Gap Insurance policies can cover aspects a car insurance provider cannot.

 

In case you wondered, 'GAP' is short for Guaranteed Asset Protection. Many people believe GAP Insurance gets its name because it fills in a financial 'gap', but not so.

 

Why choose Total Loss Gap for Gap Insurance cover?

 

Total Loss Gap offers a range of GAP Insurance products that can suit a number of purchase styles and requirements for cover. The key with all GAP Insurance products is that you have fully comprehensive car insurance in place and that your car insurer covers and pays the current market value in the settlement, should they write off the vehicle following an accident, theft, fire or flood. 

 

You can buy GAP Insurance cover from your motor dealer when you buy a car, on many occasions. However, you do not have to buy GAP Insurance from the motor dealer who sells you the car. Indeed there are a number of reasons why consumers buy GAP Insurance protection away from the motor dealer. These reasons include cost (it can be far more expensive in buying GAP Insurance from the motor dealer), choice and flexibility of cover. 

 

Get a Gap Insurance quote from Total Loss Gap today to see how much you can save.

 

Types of GAP Insurance

 

There are a number of types of GAP Insurance policies available in the marketplace. These include:

 

Vehicle Replacement GAP Insurance 

Looks at the future replacement costs of the vehicle, not just the original invoice price you paid. Generally, the costs of buying cars increase over time with inflation, increased manufacturing costs etc. This means if you buy a brand new car today the equivalent brand new car in three years' could be 30% more. If you take a Vehicle Replacement Gap Insurance type of cover then this can cover you from the car insurers' current market value settlement, if the car is written off or stolen, to the cost of the current equivalent replacement new car. 

This is generally considered the most comprehensive type of GAP Insurance policy available.             Total Loss Gap and Gap Insurance

 

Return to Invoice GAP Insurance

 

Return to Invoice GAP Insurance can cover the difference between the motor insurance current market value settlement, following the car being written off or stolen, and the original invoice price you paid for the vehicle. This will mean you can recover the entire original purchase price of your car. Back to Invoice GAP cover will not take into account any increased costs with the replacement vehicle (unlike VRI GAP) but getting back your purchase price instead.

 

If you have been offered GAP Insurance protection by your motor dealer then it will normally be an RTI GAP Insurance offered.

 

Lease & Contract Hire GAP Insurance

 

This style of GAP Insurance is exclusively used for lease arrangements where you have no option to own the car, like a Contract Hire agreement. As you cannot own the vehicle then your only liability is to pay off the lease, if the car or van is written off during the term. Contract Hire & Lease GAP Insurance cover can cover any difference between the car insurance's current market value settlement, if the car is written off or stolen, and the outstanding lease settlement.

 

As part of your lease arrangement, you may have also placed an advanced rental down at the beginning. This is normally a multiple of the monthly rentals upfront. With Lease & Contract Hire GAP Insurance you can look to protect some, or all of this advanced rental by taking optional 'Deposit Protection'.

 

Finance GAP Insurance

 

Finance GAP Insurance is the most basic form of GAP Insurance cover, and comes with some significant limitations. This type of GAP Insurance cover is designed to bridge any difference between the car insurance market value settlement, should the car be written off or stolen, and the outstanding finance settlement required to pay off a hire purchase or PCP agreement, for example.     Car accident GAP Insurance

 

This can often be the cheapest GAP Insurance cost, which can seem attractive. However, there are a couple of issues that you should be aware of.

 

  • Not everyone can benefit from Finance GAP protection. For Finance GAP cover to benefit you must be in a position whereby there is a shortfall between your car insurance market value settlement and the outstanding finance settlement for the car. If you have put in a large deposit, or you are near the end of your agreement, you may find that no shortfall exists. If your car was written off or stolen then you may not see any claim paid on this type of GAP Insurance policy.

 

  • Because Finance GAP Insurance policies only cover a shortfall between the motor insurance settlement and the outstanding finance balance it cannot provide you with any of the money you have paid into your agreement back. That is to say, your deposit or any of the equity you have paid off cannot be recovered with Finance GAP Insurance cover. You would need either RTI or VRI versions of Guaranteed Asset Protection cover in order to get some money back.