What is GAP Insurance?
GAP Insurance is a policy that protects you against financial loss if your car is declared a total loss.
GAP, or General Asset Protection, insurance covers the 'gap' between what your insurer will pay out (usually the market value of the car at the time it's written off), and how much is left on your finance agreement.
The market value can be considerably lower than the amount you still owe your funder, so you could be left out of pocket and without a way to purchase another vehicle. Taking out a GAP policy can protect you against this financial loss, and you might even be left with some cash to take out a new lease agreement.
Carparison's GAP Insurance offering is a mixture of two products - Lease GAP and Return to Invoice - and our provider will pay out whichever figure is higher.
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