Featured within the Which? Report on Gap Insurance.
Protected by the Financial Services Compensation Scheme.
We are often asked at Total Loss GAP, about different situations that can occur, and whether our Total Loss GAP Insurance products will provide cover.
One of the most popular ones is will our GAP Insurance cover if your vehicle is stolen using the keys for the car.
The simple answer is………., yes.
Now we would love to claim this as some exclusive feature that makes our GAP products better than everyone else. Now we do have some features that we think does set us apart. Except cover for theft with keys is not one of them.
There seems to be some ‘urban myth’ than emanates from the marketing departments of some GAP Insurance providers that mean they promote cover for ‘theft with keys’ as unique to them. In our experience, we cannot recall seeing a GAP Insurance policy that doesn’t provide this cover in the standard policy terms.
Indeed we have been told by one customer that a GAP Insurance provider has offered them ‘theft with keys’ cover at an extra premium on top of their standard policy!
Remember GAP Insurance is designed to work when your main motor insurer ‘writes off’ the vehicle following an incident. These incidents can include accident (fault or not), fire, flood and theft. The main point is that the motor insurer covers the incident in question, writes off the vehicle (instead of repairing or replacing it) and pays you the market value as a settlement.
Once this happens, then you can top up your motor insurers settlement with a claim on the GAP policy.
We think all of that is pretty much common sense.
So the next time a GAP Insurance provider says that their policy will cover you for theft with keys, and others do not ask them one question. Where are the GAP products they think won’t cover any vehicle theft with the use of keys? We would love to hear about it!
Your policy is fully FCA regulated and backed by the Financial Services Compensation Scheme.
We are here to help! Search our help centre for any questions you may have.