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Is Ford GAP insurance worth it?

9 May 2024

Written by Simon England

|  5 Minutes

The American manufacturer Ford has taken the UK by storm since the 60s. Up until its discontinuation in June 2023, the Ford Fiesta was the most common car on UK roads. The affordable and efficient model is much-loved for its versatility, handling, comfort, stye and reliability. They also depreciate slower than average making the resale value attractive.

Regardless of how much value your car retains as you drive it, you’ll still lose money if you write it off. Your car insurance company only pays the market value, not the amount you paid for it. Any outstanding finance may not be covered either – leaving you in a predicament if you want to replace your Ford.

Ford Fiestas and Ford Focuses were the first and second-most stolen car models in 2023. Thefts are even more common that the Mercedes C-Class and Range Rover. If you have one of these sought after models, you’ll want to protect your investment if the worst happens.

How does Ford GAP insurance work?

GAP insurance works to protect your investment should the worst happen and your car is written off or stolen. We’ll top up your car insurance settlement so that you can afford to buy a replacement car if you lose your Ford. Only 17% of drivers can afford even a like-for-like replacement with their market value settlement – Vehicle Replacement GAP insurance offers the cost of replacing your car new for old (or the outstanding finance if this is higher).

Ford cars lined up

Four different types of GAP insurance policies are available to cover your Ford however you paid for it.

Back to Invoice or return to invoice GAP covers the difference between your market value settlement and the original purchase price of your car (or the outstanding finance if this is higher). This policy helps you buy a replacement new car and pay of any loans you may have taken out on the car.

Vehicle replacement GAP insurance, as explained, covers the difference between the market value settlement and the cost of replacing your Ford new-for-old (even if the replacement price is higher than when you bought yours). VR asset protection insurance also covers your outstanding finance if this is higher than the replacement cost. Since the cost of new and used cars has recently increased, this policy gives complete peace of mind over being able to afford a replacement after a total loss.

Contract Hire GAP insurance is available for leased vehicles and covers the potential insurance shortfall after a total loss, the leasing deposit (up to £3,000) and any outstanding payments, so you’re not left paying for a car you no longer use. Instead, with GAP coverage, you can put a deposit down for your next vehicle.

Agreed Value GAP insurance covers the vehicle depreciation from when you purchase a policy, so you’re not losing money as you drive.

How much could asset protection insurance save you?

Cars lose value quickly over the first three years with the steepest loss occurring from day one. So, if you buy a brand-new car, you could lose a significant amount to depreciation. If you get a lot of mileage out of your car or you write it off after you’ve owned it for a while, the market value may have dropped considerably.

After a total loss, your comprehensive motor insurance pays the market value of your car which means you can lose out. For example, if the car you bought a Ford Focus of £28,000 and after 4 years it depreciates to £21,000, you could lose £7,000. You may not be able to afford a replacement Ford vehicle with your total loss settlement alone, especially if you paid with a finance agreement.

The average payout from a Ford Asset Protection policy is £2,886.5. Many things influence the size of this payout such as the amount of depreciation, the outstanding loan balance, lease payments and more. Still, your GAP payment helps you to afford a replacement car that you actually want and one that suits your current needs.

Read more about GAP insurance calculations

How much does Ford GAP insurance cost?

GAP coverage might be more affordable than you think. The average policy for a Ford (across all policy lengths) costs just £202 for the entire policy term. 85%of customers take out a 3-year policy or longer.

GAP insurance quotes for Ford

A Ford worth £28,000, less than 1-year old and 1,500 miles generates the following quotes for a Back to Invoice policy (1-4 years)







Is Ford GAP insurance worth it?

A driver writes off a vehicle every 90 seconds in the UK, it’s important to have protection in place so you can afford a replacement vehicle if the worst happens. Guaranteed Asset Protection insurance allows you to get back on the road in no time after a total loss.

Considering the cost of a replacement car makes getting GAP cover a no-brainer. The potential savings could be significant so the reasonable cost for asset protection is worth it. For just £202 for a Ford GAP insurance policy, you could save around £2,886 – an overall saving of £2,684.

Get a quote here

Can you cancel Ford GAP insurance?

If your circumstances change and you need to cancel your GAP cover, you have options for cancelling your cover. If you cancel within the 30-day cooling-off period, you’ll receive a full refund. If you cancel after the cooling-off period, you’re entitled to a pro-rata refund of any unused premium, this includes a cancellation fee of £35.

What to read next

Why GAP insurance is a good idea?

GAP insurance quotes by policy type

How does Back to Invoice insurance work?

Types of GAP insurance

Is GAP insurance worth it for my car?

Quotes by manufacturer – Ford GAP insurance


Drivers warned most stolen car – Ford, BMW & Vauxhall.