COmbined Guaranteed Asset Protection/ RTI
What is GAP insurance?
GAP insurance stands for Guaranteed Asset Protection Insurance. It can also be referred to as RTI, Return To Invoice Insurance.
If your vehicle was written off as the result of an accident, fire or theft, most insurance companies would only pay the current market value of the vehicle, and not the market value when you purchased your car.
How Can This Help Me?
Having GAP insurance would help you fund your replacement vehicle if your car was unfortunately written off. For example, if a vehicle costing £10,000 was written off after 12 months, most insurance companies would pay out the current market value, which might only be £8,000. If you wanted to then replace your vehicle, you would have to find the difference if you paid cash. However, if you had taken out a finance agreement to pay for your vehicle, then you could find that the amount received from your insurance company was less than the amount you still owed on your finance agreement. In either event, you could be out of pocket - this is where GAP insurance may save you thousands of pounds.
If you would like to find out more about GAP insurance please contact our sales department at either branch for further information and our price. Policy exclusions and limitations may apply - please ask for details. TJ Vickers & Sons Limited is an Appointed Representative of AutoProtect (MBI) Limited which is authorised and regulated by the Financial Conduct Authority, (their reference number is 312143) and which is permitted to advise on and arrange general insurance contracts.