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Retail Price Protection Insurance

Cover features:

• Available for 1 to 4 years
• Pays the first £250 of your insurance excess
• All named drives on the Fully Comprehensive insurance policy ·
• Maximum payout 105% of Glass’s Guide retail price
• Maximum level of GAP cover available is £25,000
• Pays back to your original invoice price before any deposit deduction
• Doesn’t cover arrears or negative equity shown on purchase invoice
• Available for cars and vans up to 3.5 tons (unladden) Example:

Example:

So what will you have to do?
Simple! The Vehicle owner has to pay the GAP.

Original cost of your vehicle:	£20,000
Deposit:	£2,000
Amount of loan:	£18,000
18 Months later the car is stolen or is in an accident and declared a total loss.
Amount still owing to your finance company:	£12,000
The insurance company pays you only:	£9,000
With GAP Insurance, you will receive:	£11,000

So what will you have to do?
Simple! You receive the difference of £11,000, £3000 pays off the finance house, the remaining £9000 is yours.

If the finance owing is greater than the original invoice price, this policy will revert to Finance GAP and clear the gap between the balance outstanding and the Insurers settlement.

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