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GAP Insurance

When you buy a new car, it begins to depreciate and lose value from the minute you drive it off the forecourt.

If you are unfortunate enough to be involved in an accident, crash, or have your vehicle stolen, leading to your vehicle being written-off by the insurer, many only return to you the price the vehicle was worth at the time of the incident, not the amount you need to get an equivalent replacement.


If today you bought a new vehicle for £15,000, within 3 years that vehicle will be worth roughly 40% of its original value*. If your vehicle is involved in an accident or stolen and declared written-off in its third year, your insurer could value it at as little as £6,000. Guaranteed Asset Protection (GAP) Insurance pays the difference, meaning a payment straight to you of £9,000 on top of your motor insurance settlement, giving you enough cash to purchase a new equivalent vehicle and get back on the road.

The Detail

  • Works in tandem with your standard comprehensive motor insurance policy
  • Policy term of 36 months
  • Pays the difference between your insurer's settlement, and the amount you paid for the vehicle, or the amount required to settle your finance agreement, whichever is greater
  • Asset Secure GAP Plus will pay you back up to the purchase price of your vehicle (subject to a maximum claim limit of £25,000)
  • It also covers your motor insurance excess up to £250.00

You can find out more about GAP insurance at:

*Source: The AA