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It’s a given that most cars go down in value, and that finance repayments add up to more than the cash value of your vehicle.
With this in mind, GAP Insurance can be a sensible addition to your private motor insurance policy, as it covers the difference in your vehicle’s current value – what you’d expect to receive from you insurance provider if it’s written off or stolen – and what you have left to pay.
The team at EIC have different GAP Insurance options for a range of scenarios, so that your insurance policy is relevant to the vehicle you own, and the payment structure of any financial arrangements you’ve made on it.
This is important as the make and model of one car might go down in value much quicker than another, and certain policy wordings, such as New Car Gap Insurance is obviously only going to be valid on a new purchase.
Depending on your needs, we can arrange a variety of GAP insurance covers including;
- Return to Invoice Cover
- Agreed Value Cover
- Contract Hire GAP
- Vehicle Replacement
The team at EIC can help you make sense of the extended financial protection available through GAP Insurance.