GAP

Covers both new and second hand cars
Covers up to £250 policy excess in the event of a claim
Change your car and transfer your GAP policy

Bridging
the gap

GAP Insurance

If following a claim under your motor policy, your vehicle is written off or if it’s stolen and not recovered, your motor insurer may only pay the current market value. This amount will typically be less than what you paid for it and could be less than what you still owe the finance company.

Whether you’ve purchased your vehicle outright or using finance or even if it’s leased, we have an option for you that will help bridge the gap between your insurance payout and the value of your vehicle.

The Detail

Total loss valuations may be subject to a deduction due to contributory negligence, condition of the vehicle or recoverable VAT.
Transfer of the policy between vehicles is subject to acceptance.
Cover is subject to policy qualifying criteria. Click HERE for full details.

Combined Finance & Purchase Price Protection GAP

In the event of a total loss, this option can pay the difference between, your motor insurer’s settlement and the original net price paid for the vehicle. Alternatively, if the vehicle is financed, this GAP option will pay for the outstanding finance if this is higher.

Example Pay Out:

Purchase Price: £6,495 (100% financed)
Motor Insurer’s settlement: £5,980 (market value)
GAP policy payment: £515 back to invoice price, £334 to clear finance and £250 towards motor policy excess
Total GAP payment: £6,829

Return to Invoice GAP

In the event of a total loss, this can pay the difference between your motor insurer’s settlement and the original net invoice price paid for the vehicle. This is a single premium policy that provides cover for up to 3 years.

Example Pay Out:

Purchase price: £18,325
Motor Insurer’s settlement: £8,410 (market value)
GAP policy payment: £9,915 plus £250 towards motor policy excess
Total GAP payment: £10,165

Top Up GAP

If your vehicle is a total loss, Top Up GAP can pay you an additional 25% on top your the total loss valuation provided by your motor insurer. This annually renewable policy allows for a transfer of vehicle.

Example Pay Out:

Motor Insurer’s settlement: £10,000 (market value)
GAP policy payment: £2,500 plus £250 towards motor policy excess
Total GAP payment: £2,750

Universal Purchase Price & Finance GAP

This option is an annually renewable policy and is for customers who have purchase their vehicle outright or using finance from a dealer in the last 180 days (approximately 6 months).

If your vehicle is declared a total loss and you have owned it for less than 4 years at the date of the incident, this GAP option will pay the difference between the motor insurer’s valuation and the purchase price (or the amount owed on finance, if greater).

Once the vehicle reaches 4 years old, the policy will change to Top Up GAP, which will increase your motor insurer’s total loss valuation by 25% (or the amount owed on finance, if greater).

I have been very impressed with your customer service. The policy covers were explained simply and paperwork arrived promptly and was easily read and understood. I am confident that in the event of a claim this high level of service will make things easy.

Emily, Crumlin

I would have no hesitation in recommending Caulfield Insurance. Courteous, professional and all round great customer service.

Patrick, Belfast