01252 837014 vectura.uk.com
INDEPENDENT MANAGEMENT EXPERTISE
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01252 837014 vectura.uk.com |
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INDEPENDENT MANAGEMENT EXPERTISE |
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GAP INSURANCE |
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When a car is written off or stolen and not recovered, Return-to-Invoice GAP insurance covers the shortfall between a standard motor insurance settlement and the original invoice price of the car. This insurance is offered by Vectura to ensure the Client can always replace the car, like for like or fully settle any outstanding finance on the car. The premiums are very reasonable commencing at £269 for £10,000 worth of shortfall cover for a vehicle with an invoice value up to £20,000. The total 3-year cover for a car with a value of £30k would be a one-off premium of £319 for £15k worth of shortfall cover or £331 for £25k worth of cover. |
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GAP EXAMPLE |
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q Original Invoice Price of car is £30,000 |
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q Car stolen and not recovered 12 months later |
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q Motor insurance trade value payout £22,000 |
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q Shortfall to replace car £8k. Shortfall covered by RTI GAP settlement £8k |
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q Covered by a one-off premium of £319 for £15,000 worth of shortfall cover. |
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