Which gap insurance policy do I need?

As a specialist provider of gap insurance, direct gap offers various policies for your individual circumstances. Sometimes it can be hard to know which type of cover is best for you and your vehicle, which is why we’ve put together this handy guide.

Next, we’ll walk you through the four different types of gap insurance. We’ll explain how they work and the benefits each policy offers, to help you make a decision about which form of cover will be right for you.

Reading: What gap insurance do i need

financing/lease/rent gap insurance contract

what is finance/lease/contract rent gap insurance?

If your vehicle is financially irreparably damaged, written off or, as your insurer would say, ‘declared a total loss,’ financing/lease/rental gap insurance will pay the difference between your insurer’s payment and any outstanding financing .

why do I need it?

If your vehicle is declared a total loss, your insurer will pay you its value at the time of the accident. this is the used value and will not be the price you paid for the car when it was new.

If this amount is not enough to pay off the outstanding vehicle financing, you will need to cover the difference with your own funds. financing/lease/rental gap insurance will cover that shortfall between your insurer’s offer and the pending financial settlement payment.

Learn more about Financing/Leasing/Rent Gap Insurance.

What are the benefits of the policy?

  • covers finance and settlement charges
  • Deposit protection up to £2000
  • 30 day money back guarantee
  • covers insurance excess up to £250
  • applicable in rental contract, hp, pcp and leases
  • policy terms from 1 to 5 years
  • unlimited claim limits on vehicles up to £50k
  • all drivers on your insurance policy are covered
  • Get a Quote for Financing/Leasing/Rent Gap Insurance

    back to bill gap insurance

    what is bill return gap insurance?

    Return to Bill Gap Insurance (RTI) covers the value of your vehicle when you bought it. ensures that if your car is declared a total loss, the difference between your insurer’s payment and the purchase price of your vehicle is covered. this includes any pending financing.

    why do i need rti gap insurance?

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    If your vehicle is declared a total loss, your insurer will offer compensation based on its value at the time of the accident. this won’t be the price you paid for the car when it was new, and often isn’t enough to cover the outstanding amount if you used financing to purchase the vehicle.

    Our return-to-bill gap insurance policy will pay the difference between your insurer’s settlement and the value of the vehicle when purchased. this includes settling any outstanding financial balance.

    If you paid cash for your vehicle, your policy will cover the difference between the insurer’s final settlement and the original purchase price, allowing you to replace it with one of similar value.

    learn more about bill return insurance.

    What are the benefits of the policy?

    • establish financial agreements
    • covers new and used cars and vans
    • 30 day money back guarantee
    • excess covered up to £250
    • free transferable coverage
    • policy terms from 1 to 5 years
    • covers all drivers named on your insurance
    • unlimited claim limits on vehicles up to £50k
    • get a quote for bill return gap insurance

      vehicle replacement insurance

      what is vehicle replacement gap insurance?

      Vehicle replacement gap insurance pays the difference between your insurer’s final settlement and the cost to replace your car with the same specs it had when you bought it.

      why do I need it?

      If your vehicle is written off, your insurer will pay you based on its current value, not the amount needed to replace the vehicle with a new one of similar quality. this is also usually not enough to pay the pending financial arrangements.

      Vehicle replacement gap insurance will cover the difference between your insurer’s settlement and the cost of replacing the vehicle with one with the same specifications as when you bought it. any pending financing will be paid.

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      learn more about vehicle replacement gap insurance.

      What are the benefits of the policy?

      • covers new and used cars
      • considers increases in the list price of cars
      • unlimited claim limits on vehicles up to £50k
      • covers dealer discounts
      • free transferable coverage
      • policies from 1 to 5 years
      • covers insurance excess up to £250
      • protects all drivers named on your insurance policy
      • Get a quote for vehicle replacement gap insurance

        Agreed Value Gap Insurance

        what is agreed value gap insurance?

        Agreed Value Gap Insurance pays the difference between the insurer’s final settlement and 100% of the retail price of the glass guide on the day you purchased the policy. It is suitable for vehicles purchased individually or with more than 180 days of ownership.

        why do I need it?

        If your car is declared a total loss, your insurer will offer you an amount based on the car’s value at the time. it’s likely to be less than the value of your car when you bought the policy, and the difference could be thousands of pounds. a direct gap agreed value policy will cover that difference, so you won’t be broke.

        learn more about agreed value gap insurance.

        What are the benefits of the policy?

        • covers new and used cars
        • 30 day money back guarantee
        • covers loss due to theft of keys
        • policies from 1 to 4 years
        • all factory installed optional extras are covered
        • free transferable coverage
        • covers insurance excess up to £250
        • all drivers named on your insurance are covered
        • Get an Agreed Value Gap Insurance Quote

          why choose direct gap for your gap insurance?

          We are one of the UK’s leading providers of gap insurance and there are many reasons to choose us, as well as our selection of policies:

          • Knowledge: Our team is made up of fully trained professionals who specialize in gap insurance, and all claims are handled in-house, so you never have to reach a call center.
          • flexibility: we are fully committed to helping you find a policy that perfectly suits your requirements.
          • responsibility: we are fully regulated by the financial conduct authority and adhere to the highest ethical standards.
          • integrity: our team does not charge any commission for the sale of gap insurance, so you can be sure that they always have your best interests in mind.
          • Service: We always put our customers first, and our 5-star feefo rating shows that it’s a worthwhile approach.
          • If you would like more information about gap insurance or which type of policy is best for you, you can contact us by email at [email protected] or by phone on 01422 756100.

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