What is GAP Insurance?

GAP Insurance is an insurance policy designed to cover the difference between the amount owed to the Finance company and the insurance payout received in the event of a vehicle being written off as a total loss or stolen, the standard cover is £5,000 although up to £10,000 is available. There is another form of GAP insurance which is RTI (Return to invoice) GAP Insurance. We will be happy to provide further detail on this but essentially in the event of a total loss, it will pay out the difference between the current market value and the original invoice price.