What Is It And Who Can Buy It?
Covering the difference between your Motor Insurance payout and the greater of either the original purchase price paid for the vehicle OR the amount outstanding on finance, Invoice Gap insurance is the most popular type of Gap Insurance policy purchased today.
It’s available for vehicles that (at the time of purchasing the policy) are less than 6 years old, that were bought from a VAT Registered Motor Dealer, within the last 105 days, for a purchase price of up to £100,000.
Claim Limits range from £5,000 to £Unlimited and durations from 1 to 4 years are available with the option (for a vehicle less than 105 days old at the time of purchasing the policy) to defer the start date by up to 12 months.
To be eligible for Invoice GAP Insurance you must have bought your Car or Light Van from a VAT registered UK Motor dealer or finance house.
You must also be the Registered Keeper and/or the main insured driver under the Comprehensive Motor Insurance policy.