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Vehicle-replacement Gap review

Find out how vehicle-replacement Gap can help with the cost of replacing your car, and how much it costs.

In this article
What is vehicle-replacement gap insurance? Vehicle-replacement Gap insurance reviewed

What is vehicle-replacement gap insurance?

Rather than helping you reach the amount you paid for your car, vehicle-replacement Gap bridges the difference between the amount you get form your car insurer and the cost of a new vehicle.

For example, if you bought a Honda Jazz for £15,095, but a year later had an accident and received only £10,000 from your car insurer AND the car had gone up in price to £20,000, your vehicle-replacement Gap insurance would cover the difference, minus your excess.

Many providers also offer finance Gap - which covers any loans you took out to pay for the car - as part of this product.

Vehicle-replacement Gap insurance reviewed

The table below shows the cost of vehicle-replacement Gap insurance for three different cars bought brand new, and the features of the different third-party Gap insurance policies. These include:

  • Excess - how much your Gap insurance policy will pay towards your car insurance excess
  • Maximum level of cover - how much cover you can take out
  • Cover availability - how long you can take out the Gap insurance for
  • Age of vehicle - the age limit of the vehicle that each Gap insurer will cover
  • Maximum value of vehicle that each Gap insurer will cover
  • Finance - whether the Gap will cover your outstanding payments for your car if you bought it on finance

The premiums quoted are for a brand new car, for three years of cover. All quotes were updated in October 2017.

How much does vehicle-replacement Gap insurance cost?
  COST OF GAP INSURANCE FOR 3 YEARS COVER DETAILS
  Fiat Punto
£9,537
Honda Jazz
£13,258
Audi Q3 TDI
£25,116
Amount towards your excess Maximum level cover Cover available for
(years)
Maximum age of vehicle
(years)
Maximum value of vehicle Covers finance on cara
THIRD-PARTY INSURERS
ala.co.uk £126 £173 £226 £250 £50,000 1 to 5 10 £125,000 Yes
car2cover.co.uk £119 £161 £209 £250 No limitb 1 to 5 10 £125,000 Yes
click4gap.co.uk £169 £187 £243 £0 £25,000 1 to 3 Up to 3 months at inception £50,000 Yes
directgap.co.uk £119 £149 £199 £250 No limitc 1 to 5 ns £75,000 Yes
gapinsurance.co.uk £126.17 £126.17 £178.58 £250 £100,000 1 to 5 10 £150,000 Yes
autoebid.com £128.17f £137.76g £161.07h £250 £20,000 1 to 3 8 £50,000 Yes
shortfall.co.uk £97.12 £97.89 £164.14 £750 £50,000 1 to 4 nsi £150,000e Yes
Totallossgap.co.uk j £89.99 £99.99 £156.42 £250 ns 2 to 5 8 £75,000 Yes
WarrantyDirect.co.uk £163.84 £163.84 £163.84 £500 £50,000 1 to 4 Under 3 months £125,000 Yesk

Table notes:
a Outstanding finance payments for the current car - not negative equity from finance on a previous car.
b No claim limits for vehicles costing up to £75,000, wide choice of claim limits available for vehicles costing £75,001 – £125,000.
c No claim limits for vehicles costing up to £50,000, claim limit of £30,000 for vehicles with an invoice price over this amount.
d For vehicles with an invoice price of more than £75,000 easygap have access to policies up to £150,000 and claim limits up to £50,000.
e Cover for more expensive cars can be arranged by phone
f Only available with a £5,000 claim limit
g Only available with a £10,000 claim limit
h Only available with a £15,000 claim limit
i Vehicle must have driven less than 80,000 miles
j Only offers "Total Loss Gap Insurance"
k Will cover PCP and Hire Purchase, does not cover Lease Purchase