GAP Insurance – Claims Examples
Have you just purchased a new car? Have you bought GAP insurance?
In the event of a motor claim, GAP Insurance will pay the shortfall between the insurance settlement and any outstanding finance.
For more information, please visit our dedicated GAP Insurance page.
Claims Examples
The best way to see the benefits of a GAP Insurance policy is by looking at some real life claim examples:
Example 1 – Purchase Price Protection
| Vehicle | Vauxhall Antara |
| Date of Purchase | October 2013 |
| Purchase Price | £11,599 |
| Date of Total Loss | May 2016 |
| Total Loss Valuation | £8,250 |
| GAP Claim Payment | £3,349 |
Example 2 – Finance GAP
| Vehicle | Volkswagen Crafter |
| Date of Purchase | October 2014 |
| Purchase Price | £21,000 |
| Date of Total Loss | June 2016 |
| Total Loss Valuation | £14,050 |
| Finance Outstanding | £16,173.40 |
| GAP Claim Payment | £2,123.40 |
Example 3 – Total Loss Top Up
| Vehicle | BMW 318 |
| Date of Total Loss | June 2016 |
| Total Loss Valuation | £17,100 |
| 25% of Total Loss Valuation | £4,275 |
| GAP Claim Payment | £4,275 |
Example 4 – Top Up Fleet GAP
| Vehicle | Vauxhall Vivaro |
| Date of Purchase | September 2014 |
| Date of Total Loss | July 2016 |
| Total Loss Valuation | £10,500 |
| Finance Outstanding | £9,518.19 |
| 25% of Total Loss Valuation | £2,625 |
| GAP Claim Payment* | £2,625 |
* (pays the greater of the difference between the finance outstanding and the total loss valuation or 25% of the total loss valuation)
