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 to eliminate this worry in the form of GAP insurance.  We offer two types of GAP insurance for you to purchase at extremely 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 an 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 the outright purchased your vehicle due to vehicles current market value, then GAP Insurance protects you from financial loss by either paying the finance company the shortfall or paying 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.

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