One Call GAP Insurance

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Choosing GAP insurance with One Call could ensure you get the cover you want at a competitive price, with a range of benefits.

If your vehicle is stolen, written off, or destroyed in a fire, GAP insurance can be used to top up your car insurance pay-out and ease the financial burden at a very stressful time.

Depending on the kind of GAP insurance you choose, it can help to recover the original price you paid for your car or settle outstanding payments on a lease or finance vehicle. Owners of new cars, or those with financed or leased vehicles, can benefit from having GAP insurance alongside their regular car insurance. It could potentially save you thousands of pounds and make it easier to replace your vehicle after an accident.

One Call's GAP Insurance could also cover up to £500 towards your car insurance excess, as well as any factory-fitted extras on your vehicle. Start your quote below and see how much our GAP insurance could cover you for.

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The total invoice purchase price for your vehicle. This includes ALL factory fitted optional extras and dealer fitted optional extras but excludes any vehicle discount, interest charges and road fund licence.

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Loading.. What your comprehensive insurance will pay Price based on depreciation statistics for a Car after
Loading.. Potential amount left to pay without gap insurance No claim limit Max claim limit 25,000
  • Combined GAP cover (Premium Cover)
  • We will pay the vehicle's invoice price or the outstanding finance- - Whichever is higher
  • £500 Insurance excess covered
  • No excess payable to make a claim on this GAP insurance
  • Cover as standard for dealer fitted accessories
  • Unlimited claim limit on vehicles valued under £75,000

Choosing GAP insurance with One Call could ensure you get the cover you want at a competitive price, with a range of benefits.

If your vehicle is stolen, written off, or destroyed in a fire, GAP insurance can be used to top up your car insurance pay-out and ease the financial burden at a very stressful time.

Depending on the kind of GAP insurance you choose, it can help to recover the original price you paid for your car or settle outstanding payments on a lease or finance vehicle. Owners of new cars, or those with financed or leased vehicles, can benefit from having GAP insurance alongside their regular car insurance. It could potentially save you thousands of pounds and make it easier to replace your vehicle after an accident.

One Call's GAP Insurance could also cover up to £500 towards your car insurance excess, as well as any factory-fitted extras on your vehicle. Start your quote below and see how much our GAP insurance could cover you for.

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Why choose One Call's GAP Insurance?

By taking out insurance with us you'll receive these great Features and Benefits:

  • Over 20 years of knowledge
  • 5* rated customer service
  • 24 hour claims service
  • UK call centres

What is GAP Insurance?

GAP insurance, more formally known as Guaranteed Asset Protection, runs alongside a standard car insurance policy and covers you for the difference between the amount you paid for your car when new and the amount an insurer would pay you in the event of it being written off, stolen or destroyed in a fire.

The difference between the two figures is what's known as depreciation. For example, if you bought a brand new car today and had it written off in 14 months' time, your insurer would pay you a sum of money based on its value at the time of the accident. They'd effectively only pay you the second-hand value.

According to the AA new cars depreciate in value by up to 40% in year one and up to 60% by the end of year three.

So, for a £20,000 car you could be out of pocket by £8,000 in year one and by £12,000 by the end of year three. However, with GAP insurance, you'd accumulatively receive the full £20,000 and subsequently be in a position to go out and buy the same car, in factory fresh condition. The exception to this is when your car is under 12 months old, within which most insurers will automatically provide a like-for-like, brand new replacement as standard.

Read our guide for more information about What GAP insurance Is.

As standard our GAP Insurance includes...

GAP insurance cover for factory fitted options

Cover for factory fitted options

Ensures you don't end up with a lower spec car or out of pocket

GAP insurance cover with no excess to pay out

No excess to pay out

Our GAP insurance cover gives £500 towards your car insurance excess

£500 towards your car insurance excess

As a general rule of thumb, GAP Insurance is suitable for...

  • Vehicle ownership - GAP insurance is suitable for cars that are owned outright, financed and leased. As your insurer would only pay out to the tune of your car's current value, without GAP insurance, the latter two could result in you having to make the same monthly payments, but for a much lower spec or older car than the one you started out with.
  • Vehicle age - GAP insurance is most suitable for cars aged 12 - 60 months. Most insurers will replace a car with a like-for like, brand new one if it is written off, stolen or destroyed by fire within the first 12 months meaning there is little to no benefit in having GAP insurance. Similarly, GAP insurance isn't as suited to 5+ year old cars as the rate of depreciation is much lower and any deficit is likely to be in the hundreds of pounds rather than the thousands. That said you may wish to look at Top Up GAP Insurance for used cars.
  • Vehicle type - Here at One Call Insurance we can only offer GAP Insurance on cars and vans only. Check out our guide for more information about if you need GAP insurance.

GAP Insurance for used cars

Used cars simply don't depreciate at the same rate as new cars and therefore gap insurance isn't as useful.

Instead, you should look at Top Up GAP Insurance. Not only can it help ensure you don't have a deficit between the amount you paid for your car and the amount your insurer would pay you in the event of it being written off, stolen or destroyed in a fire, but as it pays you a guaranteed 25% on top of the amount your insurer pay, you could end up with a surplus i.e., more money than you paid for your car in the first place. Similarly you theoretically receive less.

If you would like a quote on Top Up GAP Insurance please call us on 01302 554265.

Is GAP Insurance worth having?

If you are considering whether this type of cover is right for you, read our guide about the pros and cons of GAP insurance.

The Cheapest way to buy GAP Insurance

Don't buy GAP Insurance from the dealership!

If you think that GAP insurance could be helpful to you, then make sure you have a look at different offerings to work out the cheapest option for your needs.

Take a look at our guides on the different types of GAP insurance and the best ways to compare GAP insurance for help with this.

There are countless reasons why you shouldn't buy GAP insurance from the dealership at the time of purchasing a new car. Firstly, GAP insurance is often seen as a commission booster by car salesmen and can be up to 70% more expensive than other providers.

On top of that, car salesmen will often attempt to work the cost into your car finance payments, making it appear insignificant, but in reality it means you could be paying out for GAP insurance even after the cover has expired.

For example, if you have a five-year finance agreement and add the cost of GAP insurance onto it, but only opt for one years' worth of GAP insurance, you will still be paying out for that GAP insurance in the fifth year, even though it no longer applies to your car.

It's also worth noting that, in order to combat this, the Financial Conduct Authority (FCA) introduced a set of strict new GAP insurance rules that all car dealerships must abide by.

Under the new rules, sales staff are not permitted to complete the sale of GAP insurance with the purchase of a new car. Instead, information may be supplied at this point, allowing you to go away and consider other options. Following on from this, the sale may be completed after two full days have lapsed.

Take it over a longer period of time in order to unlock discounts

Unlike car insurance, you can purchase GAP insurance for up to 4 years at a time. Doing so through online brokers such as One Call will enable you to get a more competitive price. Furthermore, rather than paying out for 4 years' worth of cover on day one, you can pay for your GAP insurance via monthly payments.

Use an online broker

Online brokers not only have substantially lower operating expenses than offline GAP insurance providers (such as car dealers), but given the plethora of online competition and the need to compete in order to win business, they tend to be much more focused on price and customer service – which is exactly the way we approach GAP insurance at One Call!

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