GAP Insurance
Protecting Against Financial Shortfalls Following a Write-off
Global were at the forefront of the market when GAP first launched in the UK. Over the years, we have become renowned as one of the leading suppliers of GAP Insurance policies to the motor industry. Today, we supply a range of Guaranteed Asset Protection (GAP) Insurance policies, with different features and benefits to meet individual dealer and customer requirements.
We understand the market, product requirements, and how customers expect Guaranteed Asset Protection policies to operate. When a customer's vehicle is declared written off by their insurer, we know they deserve to get back the most for it, and that the potential shortfall between their settlement and the cost of buying a new vehicle could be large.
Our compliant products are professionally administred by our claims handling team in Coventry, and our in-house underwriting team are constantly checking our coverage to ensure it continues to lead the market, in terms of product offering and compliance to FCA regulation and guidelines.
We offer 5 types of cover to the motor, affinity and banking markets:
- Return to Invoice GAP Insurance: Designed to pay the customer back to the invoice value of their vehicle
- Financial Shortfall GAP Insurance: Designed to pay off the customer's finance agreement in the event of a write-off
- Return to Invoice Advanced GAP Insurance: A merged product providing both of the above options
- Contract Hire Financial Shortfall GAP Insurance: Protection for contract hire agreements, designed to pay off the balance
- Return to Invoice GAP Insurance for Private Hire: Comprehensive protection for private hire vehicles