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GAP Insurance
Have you ever worried about how much your insurance company would pay out in the event of a vehicle write off or if your vehicle was stolen? What if it didn't cover the amount owed on finance or you had less paid out than expected due to a drop in market value, leaving you in a negative cash flow situation. At Sinclair Direct we have a solution that will overcome that worry with GAP insurance. There are two types of GAP insurance available to purchase at valuable rates - GAP Total Loss or GAP Finance.
What is GAP Insurance?
GAP insurance must not be mistaken for the replacement of Motor Insurance policies, it is infact a significant additional insurance to protect against financial loss if your vehicle is stolen or written off. If in these circumstances your Motor Insurer pays out less than you owe on finance or less than you outright purchased your vehicle due to vehicles' current market values, then GAP Insurance proects you from financial loss by either paying the finance company the shortfall or you the difference between what you receive from your Motor Insurer and the original purchase invoice price, subject to GAP insurance maximum payout limit.
When can GAP Insurance be bought?
GAP insurance policies; either GAP Finance if a vehicle is bought on a finance agreement or GAP Total Loss if a vehicle is bought outright can both be purchased any time prior or during purchase of your vehicle and up to 180 days after the vehicle invoice date. Cover of a GAP insurance policy then starts from the date of application.
What vehicles are exempt from GAP Insurance?
GAP insurance policies can not be taken out against any vehicle over seven years old and or over 80,000 miles. Plus any vehicle bought from a non-VAT registered motor dealer is exempt.
If you are interested in purchasing or require more information on either our GAP Total Loss Insurance cover or GAP Finance Insurance cover then contact us on 0845 124 6953 and ask to speak to our sales team or alternatively fill out the contact us form and we will be in touch within 48 hours.
