Can Classic Cars Be Covered by GAP Insurance?

No, classic cars are generally not eligible for GAP Insurance. GAP policies are designed to protect against depreciation on newer vehicles, while classic cars often hold or increase in value. For this reason, GAP cover is not relevant to classic car ownership.

Why classics aren’t eligible · How values differ · Alternatives · Related links

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Why classics aren’t eligible

Different risk profile: Classic cars are not bought to cover finance shortfalls or depreciation.
Value trends: Many classics increase in value over time, which is the opposite of cars GAP is designed for.
Specialist cover: Classic cars usually require tailored insurance policies.
Classic cars do not appear in the standard valuation guides, like Glass's Guide, so are not eligible for GAP cover.

How values differ

Modern cars depreciate quickly, creating the gap that GAP Insurance protects against.
Classic cars may hold or rise in value, meaning there’s no gap to cover.
Valuations for classics are subjective and based on condition, rarity, and market demand.

Alternatives to GAP

Agreed value car insurance: Specialist insurers agree a set payout in case of total loss, with a classic car motor insurance policy.
Comprehensive classic policies: Cover tailored for older, collectible vehicles.
Specialist brokers: Some offer restoration cover and cover for rare parts.

Tip: If you own both a classic and a modern car, GAP may protect your daily driver while specialist agreed value cover protects your classic.