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Real-life Gap Insurance Claim Examples


Having a car written off is always something that happens to someone else. It is always someone else's car that is stolen.


So why, when we are all looking after our budgets, should you ensure that protecting yourself with a gap insurance policy is something that you remember?


The theory is simple: if your car is written off, you are not left out of pocket or even more catastrophically left paying for a vehicle you no longer have.


So, what happens in the real world? Is it black and white, and does it pay out as it should? 


Let's look at some real-life examples of gap insurance payouts.

(data and claims amount figures taken directly from our underwriter's data; the policyholder's names and identifying details have been removed for security) 


Mr B from Lancashire bought a Ssangyong Korando in 2018

  • He paid £17500
  • His car was written off in June 2023
  • The gap insurance settlement he received was £15770 


Mrs S from Doncaster bought a Kia Sportage in 2020

  • She paid £24980
  • Her car was written off in June 2023
  • The Gap Insurance settlement she received was £16900


Mr C from the Scottish Borders bought an Audi A6 in 2021 

  • He paid £ 29420
  • His car was written off in June 2023
  • The Gap Insurance settlement he received was £13240

Mr A from the West Midlands bought a BMW i4 in 2022 

  • He paid £71495
  • His car was written off in June 2023,
  • The Gap Insurance settlement he received was £12675


These are just three examples of the many claims our underwriters settled in June, and the list continues as there are many more.


So we now know that Gap insurance does perform the way it should, so what can you do to make sure if you need to claim that it is settled super quick?


  1. Remember that the claims team will need a lot of documents, which your motor insurance company will also need, so take copies of everything, for example, MOT and V5 certificates.
  2. Do not accept your motor insurance companies' settlement; this will add extra time if we need to return to them to negotiate their settlement.
  3. If your vehicle has been involved in an accident and has a private plate on it, start the process of removing it straight away. Unfortunately, if your car has been stolen, you may be unable to use your private plate for anything up to a year after the theft. 


To summarize, gap insurance does pay out as it says it will, and real-world gap insurance settlement examples illustrate this.

Also, in the event of a claim, there are practical things that you can do to make sure that you are paid at hyperspeed.