Gap insurance – otherwise known as Guaranteed Asset Protection Insurance – will guard against the depreciation in value of your vehicle.
It’s no secret that new car depreciation is quick, and this can have financial implications beyond your comprehensive car insurance cover if your car is written off or stolen.
Gap Insurance from Gibbs Denley will cover the difference between your payout from a standard car policy and either what you paid for the car, what you still owe on the car, or what it would cost you to buy a new replacement car. This provides a cost effective way of enabling you to buy a replacement car without having to cover the difference yourself.
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