What Is It And Who Can Buy It?
Gap Insurance policies don’t come much better than this.
Replacement Gap Insurance pays the difference between your Motor Insurance payout and the cost of replacing the vehicle with a new one, at the time of claim – even if the new vehicle costs more than you paid for your original vehicle!
It’s available for vehicles that (at the time of purchasing the policy) are less than 105 days old, that were bought 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 to defer the start date of by up to 12 months from the date the vehicle was first registered if you have New for Old cover during the first year of your Motor Insurance policy.
To be eligible for Replacement 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.