What is GAP Insurance?
In the event of your vehicle being declared a ‘total loss’, Guaranteed Asset Protection (GAP) Insurance Plus will pay the difference between your motor insures settlement and the greater of either the outstanding finance, or the invoice price of the vehicle. For either 36 or 48 months, you will be covered for fire, theft, or damage sustained as a result of an accident, malicious damage, or flood occurring after the start date and before the end date of your policy.
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GAP Insurance Plus
In the event your vehicle is written off, this a Combined RTI GAP policy will cover the difference between your motor insurer’s settlement and the greater of either the outstanding finance or the invoice price of the vehicle.
All drivers must be at least 18 years old and be a UK resident. You are also required to maintain under your name a comprehensive vehicle insurance policy. Please note that Motor Trader’s Insurance Policies are excluded.
Please refer to your policy wording for a full list of what is covered and exclusions.
Mechanical Breakdown & General Insurance ServicesLtd (MB&G). Registered in England and Wales,Company Registration Number: 01478159. Firm Reference Number: 306978. VAT Number: 686557967. Registered Office: Cobalt Business Exchange, Cobalt Park Way, Newcastle Upon Tyne, NE28 9NZ.
Is my vehicle eligible for GAP Insurance?
A GAP Insurance policy must be purchased within 180 days from the date you took ownership of the vehicle. It may also be eligible for this insurance if it meets all of the following requirements:
Maximum Age
10 years old at Start Date
Maximum Mileage
100,000 miles at Start Date
Maximum Value
£125,000
Minimum Value
£5,000
What benefits are included?
No GAP to claim? No worries!
In the event that your vehicle is declared a Total Loss, and there is no GAP to claim under your policy, GAP Plus means we will pay you a one-off payment based on your vehicle’s value.
Motor Insurance Excess Coverage
If your GAP Insurance claim is accepted, we will even cover the cost of your Motor Insurance Excess up to £1,000 per claim!
Travel Expenses or Temporary Vehicle
You’ll also either receive contribution towards your travel expenses or be provided with a temporary replacement vehicle for up to 28 days.
Where will I be covered?
You will be covered within the UK, the Channel Islands, and the Isle of Man. You’ll also be covered in the EU for up to 90 days in any 12 months of cover.
How do I make a claim?
In the event of a total loss, simply complete an easy online claims form at: www.mbginsurance.co.uk
This form must be completed within 60 days of the incident and should provide us all the information we need to process your claim quickly and efficiently. Please note that it is a condition of this insurance that you must not accept any settlement offer or valuation from a motor Insurer without first contacting us, your policy administrator.