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  • Available on All Platinum Gap Insurance Policies
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Gap Insurance is a depreciation insurance product for vehicles. It's designed to cover your car for the depreciation that starts to take place the moment it leaves the forecourt. If you are unlucky enough to have your car written off or stolen your insurer will offer you a settlement based on the value of the vehicle when it was declared a total loss. Depending on how long you've owned the car, this is likely to be substantially less than the amount you paid for it.

If you purchased the car using finance or contract hire, you will still be liable for the outstanding balance and for settling the hire agreement even if the car is declared a total loss. The insurers payout is rarely enough to cover these ongoing financial liabilities.

You can end up badly out of pocket, having to make ongoing payments for a vehicle that has been written off, reducing the amount you have to spend on a replacement.

750,000 cars are written off in the UK due to accidents and thousands more are stolen every year. Gap insurance removes the risk of being seriously out of pocket should your car be one of them. Gap insurance covers any shortfall between the motor vehicle insurance settlement figure and the outstanding amount needed.

If you paid £20,000 for a new car, and it is written off two years later in a no-fault accident your insurer may offer you a figure of around £13,000. A gap insurance policy for a premium a little over £100, would then pay out the remaining £7,000.

Platinum Gap are the gap insurance specialists. Our policies are completely tailored to your circumstances, whether you need a very simple policy that will ensure any ongoing financial obligations are met or one that enables you to replace your vehicle with something of a similar specification.

Unlike motor vehicle insurance, the premium for gap insurance is not influenced by the driver's age, experience, make of vehicle, no claims bonus or residential location.

Our affordable, premium products also come with a free key cover and car hire cover ensuring that you're always kept on the road.

Opting to go without gap insurance for your new or used car is a risk, and one that can prove costly. For a small premium amount, you can have complete peace of mind.

Why not contact our professional, no-hard sell UK based team today to discuss your requirements?