Gap Insurance Info

Guaranteed Asset Protection (GAP) car insurance is typically sold when people buy a new vehicle. Its purpose is to help owners in the unfortunate event that their brand-new car must be written off due to an accident or is stolen. In such cases, a GAP insurance policy will make up any difference between the car's present value and how much it cost to purchase initially or cover any repayments that are outstanding if it was bought using a finance agreement.…

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If you only have standard motor insurance and your car needs to be written off or is stolen, you may be disappointed after receiving your payout if you were hoping to buy a new car. This is because most insurers will only pay you the current market value of your totalled vehicle and unfortunately, a car’s value decreases at an astonishing rate.…

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