GAP Insurance >  Financial Shortfall

If you become one of the unfortunate motorists to have their vehicle stolen or become involved in an accident where the vehicle is beyond economical repair, then you could find yourself with a financial dilemma.

Whether this is your only vehicle or one of many, you will have invested a substantial amount in your purchase.

It comes as quite a shock to our customers to learn that their insurers are not prepared to offer an amount in settlement from a total loss claim that will be sufficient to pay off the outstanding debt on their finance agreement.

The result of this is that the Motorist is in a difficult financial state, they will have to find the funds to pay off the remainder of the finance on the vehicle that has been written off, as well as having to find enough money to pay for the deposit on a replacement vehicle.

So the choice is:

• Use funds from hard earned savings to pay off the debt

• Go further into debt to obtain a replacement vehicle

• Be without transport until the finance is settled

OR...

Take advantage of the features and benefits of Financial Shortfall Insurance, this will bridge the shortfall between the payment from your motor insurance policy and your finance agreement.

At a time when you have all the problems of having no vehicle, Financial Shortfall Insurance will bridge the shortfall between the payment from your motor insurance policy and your finance agreement.

Financial Shortfall Insurance covers you for the difference between the amount your Motor Insurer pays out (or Glass’s Guide value – whichever is greater) and the outstanding finance on your agreement, up to the maximum shown on your policy schedule.

Other Benefits
This insurance also includes the following benefits:

Overseas Use
This policy covers overseas use for a maximum of 60 days continual use during the period of insurance.

Transfer of Cover to a Replacement Vehicle
If your motor insurance policy provides a replacement vehicle in the event of total loss, this policy will be transferred to your replacement vehicle for the remainder of the period of Insurance.

Take out Financial Shortfall Insurance today! contact us >>

The road to better motor insurance