Guaranteed Asset Protection or ‘gap’ car insurance is a type of policy designed to be used in conjunction with your standard car insurance. Gap insurance was first conceived to cover the potential financial losses of car owners if their vehicle experiences certain unfortunate circumstances. For example, if a car is so badly damaged in a road accident that it can’t be repaired and must be written off, or if you are a victim of theft and your car is stolen, a gap insurance policy can assist the owner in reclaiming the full financial investment they made when they first purchased it.

How does gap insurance work?

Gap insurance covers you for the ‘gap’ between the maximum value of your vehicle and the amount your car insurance company will pay you if your car were stolen or had to be written off.

What car gap insurance should I buy?

Gap insurance is designed to work alongside your standard car insurance. It’s additional cover that can assist you financially if something unfortunate should happen to your car. If your new, or even second hand, vehicle is stolen or involved in a traffic accident, resulting in it being written off, then gap car insurance will ensure you don’t face a loss.

Is gap insurance worth it?

Stephen’s a lifelong car fanatic with an ownership record that includes Porsches, Alfas, a Mini, and a very large Cadillac

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