Why Is GAP Insurance Important?

For bespoke Universal GAP insurance, it has to be Higos.

At Higos we know there’s not another vehicle owner like you out there. Should the unexpected happen and your vehicle is written off or stolen, your insurance will only pay up to the current market value at the time of a claim. You could be at risk of losing money compared to what you initially paid and exposed to further termination charges or face other additional shortfalls.

So, whether you’re on a finance agreement, lease, contract hire, or own your vehicle outright, our bespoke Universal Gap insurance is exceptionally competitive against any dealership’s prices. As well as any savings we expect to identify, our aim is to provide you with the full protection you need without leaving you underinsured.

What is Guaranteed Asset Protection?

GAP insurance is designed to cover you for the defect between what you paid for your car and what your standard insurance policy will pay out in the event of a total loss incident. As a rule, the newer the vehicle you buy, the more benefit there is in taking out a GAP car insurance policy. This is because newer cars depreciate far quicker than older vehicles.

What types of GAP insurance are there?

One of the most popular types of cover we provide is finance GAP insurance. Financing new cars is becoming increasingly popular. However, it is important not to be left with a potential shortfall on your insurance policy in the event of a total loss incident. If your insurance policy does not cover the full cost of what you paid in your finance agreement, you can be left paying for it out of your own pocket. Finance GAP insurance will cover any outstanding finance payments of a vehicle that is written off.

Negative equity guaranteed asset protection is a more comprehensive form of cover. If your loan amount is higher than the cost of the car then there is a risk, you will be left with outstanding debt if your car is written off.

Return to invoice GAP insurance is designed to cover the amount between your insurance settlement and what you paid for the car in the first place.

How our Universal GAP insurance can benefit you:

  • Up to £75,000 maximum benefit cover.
  • Annually renewable.
  • No need to pay a lump sum upfront for 3-year policy and runs in line with current insurance.
  • Competitive prices against dealerships.
  • Change your vehicle without having to cancel your policy.
  • Cover for Purchase Price Protection (PPP), Combined Purchase Price Protection, Lease, covers Top Up.
  • Clears the termination charge and in addition covers the deposit on lease agreements up to 6 months.
  • Returns you back to the invoice price up to a 3-year period, clear finance/termination charges or ‘Top Up’.
  • New cars depreciate in value very quickly, GAP car insurance will recuperate the price you purchased your vehicle at.
  • Covered no matter how and when the vehicle is purchased.
  • Covers up to £250 excess in the event of a fault claim.

Our motor experts are car enthusiasts like you, and we pride ourselves on getting to know you and your vehicle before finding personal insurance cover that’s 100% tailored to you. Should you need to make a GAP insurance claim, we've built a friendly in-house team to provide you with a prompt, personal service giving you complete peace of mind when you need it most.

For more information on our GAP insurance offering and other personal insurance products, contact our team today.

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