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The world of insurance has a lot to offer. Whether you are looking for comprehensive cover or want to insure your expensive sports car, there is an insurer out there to suit your needs. However, one area where insurers can differ massively is Gap cover - how much they charge and what they provide in terms of protection against the cost of repairs following an accident.


Total Loss Gap has been providing gap insurance products since 2015, and here we break down why we believe it offers the best service when it comes to this vital aspect of motor insurance.


What makes an excellent Gap Insurance policy?     who provides the best gap insurance policy?


In our years of experience in the Gap Insurance world, we firmly believe that Gap Insurance cover can be determined by a balance of two aspects, namely:


Gap product features


These are the individual aspects of cover that can differ, depending on where you are buying your Gap cover. They are essential to compare as many seemingly 'comparable' products can vary in features. Come time to make a claim this can mean a difference of thousands of pounds to your settlement.


Gap Policy premium


This is possibly less important than policy features. However, when you consider the vast difference between motor dealer premiums for Gap and those you can find independently, then the price can stand out.


Critically though, you must not be drawn to the automatic conclusion that motor dealer Gap products must be better because they are more expensive than the likes of Total Loss Gap. Quite often, the opposite is true.


Gap Insurance Value = Policy Features/Policy Premium Price


The actual test of the 'value' of Gap Insurance cover is by considering both the policy terms and the premium price.


You can have a Gap policy with all the best features but ten times the market average premium. You could also have the lowest premium in the market but poor terms, meaning you get a much lower or no payout at all. Neither case means you have good value for money.


What makes Total Loss Gap better than the rest?


Let's start with the policy features. Examples of terms that you will find with Total Loss Gap that you may not find elsewhere include:


With all Gap policies, we make cash settlements. Total Loss Gap do not provide you with a replacement vehicle. We think this is important because you may not want the same type of car again.


You may have been involved in an incident that brings back bad memories of that vehicle. You may find that the car no longer suits your needs. There are many reasons you may not want the exact vehicle again.


As Total Loss Gap pays cash settlements, this provides you with flexibility on replacing the vehicle you have lost.


Unlimited Gap Insurance 'claim limits.'


Many Gap products cap the maximum you can claim on them. Most of the time, these caps can be adequate. However, sometimes they are not. For example, a £10,000 maximum claim on a £25,000 vehicle over four years may not be enough on a Return to Invoice Gap.


With nearly all Total Loss Gap cover, there is no maximum claim limit on the policy—except for Contract Hire cover, where the monthly rentals are about £750. Then we have a maximum of £25,000 which should still be more than enough in most cases.


Unique Vehicle Replacement Gap options


Total Loss Gap was one of the first in the market to adopt Vehicle Replacement settlements based on the highest, at time of claim, of:


  • the outstanding finance settlement
  • the original invoice price paid
  • the cost of the equivalent replacement vehicle


This means you get the best outcome of a combined product of the three traditional types of Gap cover; Finance Gap, Return to Invoice Gap and Vehicle Replacement Gap.


This means that people buying Combined Invoice and Replacement Gap do not have to decide which type of Gap cover is best for them. The policy does that time when someone has to claim.



Replacement Vehicle feature with a difference


The replacement vehicle must be a similar make and model to the original. However, this is not always possible. For example, what happens if the manufacturer stops making the model you have bought in the future? There may be no equivalent vehicle to value the replacement.


Some VRI Gap products in the market will then only pay to the original invoice price you paid for the vehicle. This outcome may seem fair on the face of it, as it is the only price available for the car.


However, you may have selected a Vehicle Replacement Gap above a Return to Invoice Gap as you believed that the car was heavily discounted. Your invoice price could be relatively low and not enable you to replace an equivalent vehicle with another manufacturer.


At Total Loss Gap, we have what we think is a better and fairer solution. If the vehicle you have does not have a direct equivalent in the market, our insurers will pay the original invoice price plus 10% as a settlement. 


The impact of this is that you get an extra £2,000 on a £20,000 car purchase, £3,000 on a £30,000 purchase etc. We think this is a significant advantage. We also believe it becomes a more and more likely situation as manufacturers revamp their product range with the advent of hybrid and electric vehicles.


We are not the only ones who think Total Loss Gap provides the best value Gap Insurance in the UK.


As we recently announced, the Total Loss Gap brand has been crowned 'Best buy' status by Auto Express in the UK. The best buy award is given as part of comparing Gap providers and motor dealers selling the product in the market currently. Auto Express best buy Gap Insurance 2021 


Total Loss Gap was the only Gap provider to attain the full 5 out of 5 Star rating and gain the superior 'Best Buy' status in this year's review. It is always nice to have independent recognition of the quality of the Total Loss Gap products also.


We firmly believe that Total Loss Gap offers the best Gap Insurance products in the UK today. We provide a comprehensive list of products to choose from that cover your needs and helpful advice on how to get started and what types of policies are available for various situations. Our team is always here if you have any questions about our coverage or want assistance getting set up with one of these fantastic insurance plans.


If you are looking for Gap Insurance, let Total Loss Gap show you the best Gap Insurance options you will ever need.