Protect Your Car With GAP Insurance
Gap Insurance covers the difference between your insurance offer at the point your car is written off or declared a total loss and the value of your car when you bought it
What is GAP insurance?
GAP insurance stands for Guaranteed Asset Protection Insurance.
If your car is written off or stolen and your motor insurance settlement is less than what you paid for the vehicle (which is often the case), GAP insurance pays the difference between what you paid for the vehicle and what your motor insurer pays you.
Total Vehicle Cost: £30,000
Motor Insurer Settlement
Example purposes only
Gap Policy Payout
- Example purposes only
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Our cutting-edge technology allows us to compare gap insurance quotes swiftly and effortlessly, ensuring that you not only save money but also precious time, so you can focus on what truly matters.
Our Gap Insurance Services
Return to Invoice Insurance (RTI)
Pays the difference between the motor insurers settlement and either the invoice price or the amount outstanding on finance whichever is the highest.
Vehicle Replacement Insurance (VRI)
Pays the difference between the motor insurers settlement and the cost of a replacement vehicle matching the original specification, age, mileage or the amount outstanding on finance whichever is highest.
Combined Return To Invoice (Combined RTI)
Covers the gap between your insurance settlement and what you paid for your vehicle, or your outstanding finance balance.
Frequently Asked Questions
What is GAP Insurance?
GAP insurance stands for Guaranteed Asset Protection Insurance.
If your car is written off or stolen and your motor insurance settlement is less than what you paid for the vehicle (which is often the case), GAP insurance pays the difference between what you paid for the vehicle and what your motor insurer pays you.
What is the maximum vehicle value you cover?
Any vehicle that has a purchase price in excess of £75,000.
What is the maximum mileage you can cover?
There is an upper mileage limit of 80,000 miles at the time of GAP Insurance purchase.
Who are your policies underwritten by?
Our Gap policy is Underwritten by Financial and Legal Insurance Limited, 1 Lakeside, Cheadle Royal Business Park, Cheadle, Cheshire, SK8 3GW which is authorised by Prudential Regulation Authority and regulated by the Financial Conduct Authority (202915) and Prudential Regulation Authority for the conduct of UK business, Registered in England and Wales under company number 03034220
How do I cancel my policy?
You may cancel your insurance cover within 30 days of receiving this policy and schedule by contacting us and you will receive a full refund of the premium paid.
You may cancel your insurance cover at any time after 30 days and receive a pro-rata refund of the number of complete unexpired days remaining of your insurance cover. You will not be entitled to a pro-rata refund if a claim or an incident that may give rise to a claim has occurred.
The administrator will deduct a fee of £35 including IPT from any refund that may be due to you to cancel your insurance cover.
What types of vehicles can't you cover?
Minibuses, quadbikes, motorbikes, bicycles, emergency vehicles, taxi and minicabs, SUV’s, HGV’s, and vehicles not shown in Glass’s Guide.
What is maximum vehicle age that you can cover?
We cannot offer GAP Insurance to any vehicle over 8 years old.
How do I make a claim on the policy?
Should you need to claim please call 0114 321 9877 BEFORE accepting any offer from your motor insurer
What do I do if I'm not happy?
To make a general complaint about your policy or our service
Contact us with your policy number and contact details via 0330 057 3122 or hello@mycomparebuddy.com.
We’re available Monday – Friday between 9am and 5pm (Excluding Bank Holidays)
What if I’m not happy with your response to my complaint?
If you’re not satisfied with how we’ve resolved your complaint, you may be eligible to refer your case to the Financial Ombudsman Service for independent review.
You have six months from the date of our final response to refer your complaint to the Financial Ombudsman Service and this doesn’t affect your right to take legal action.
If we can’t resolve your complaint in the way that you wanted, you can refer to:
The Financial Ombudsman Service,
Exchange Tower,
London,
E14 9SR.
Tel: 0800 032 8000
Fax: 020 7964 1001