Award Winning GAP insurance
Protect Your Vehicle with GAP Insurance from Driven Finance
GAP Insurance, or Guaranteed Asset Protection, helps cover the difference between your car’s insurance payout and its actual value in the event of an accident, theft, or damage from incidents like floods or fires.
Driven Finance’s GAP Insurance is designed to cover a wide range of vehicles, making it an ideal choice for many drivers. If your car is under 8 years old, has fewer than 100,000 miles on the clock, and weighs less than 3,500 kg, it’s likely eligible—provided its insured value is below £75,000. Additionally, the vehicle must meet UK specifications, be listed in Glass’s Guide, and remain unmodified.
Whether your car is new or used, purchased outright, leased, or financed in the past six months, Driven Finance’s GAP Insurance offers the peace of mind you need, ensuring you’re fully protected should the unexpected happen.
Gap Insurance
How does a GAP Insurance Policy Work?
Understanding Your GAP Insurance Policy with Driven Finance
The specifics of your GAP Insurance policy will depend on the cover you select, but the core idea remains the same: it covers the difference between your insurer’s payout for a write-off or total loss and the original value of your vehicle.
For example, let’s say you purchase a new car for £30,000. A few years later, if it’s written off or stolen, its value may have decreased to around £10,000. That’s the amount your insurance company would pay out, leaving a substantial gap. If you’re still paying off finance, dealing with a lease, or looking to replace your car with the same model, you could face significant financial loss without GAP Insurance to bridge the difference.
You can find your GAP Insurance claim limit in your quote or schedule document. If you think your car might be written off, it’s important to review the claims process in your Policy Document, which is accessible through your account. Make sure to do this before agreeing to any settlement offer from your motor insurer.
Finance to suit you
Looking to finance a new car?
PCP
PCP finance is a flexible way to drive a new or nearly-new car with lower monthly payments. You pay a deposit, followed by fixed monthly payments — and at the end, you can choose to keep the car (by paying a final balloon payment), hand it back, or part-exchange it. It’s ideal if you like to change cars every few years.
Lease purchase
Lease purchase is similar to hire purchase but includes a larger final payment at the end. It’s a great option for buyers who want lower monthly payments and plan to own the car long-term. Unlike PCP, there’s no option to return the vehicle — so it’s perfect if you’re committed to keeping the car.
Are there any exclusions?
The coverage details of GAP Insurance depend on the type of policy you select, but there are a few common exclusions that apply across all GAP policies. Here’s what to keep in mind:
- Before you buy GAP Insurance, double-check that you have the right kind of car insurance in place. GAP coverage requires a comprehensive car insurance policy to work effectively.
- GAP Insurance only covers you if your vehicle is declared a write-off or total loss. If it’s not, you won’t be covered.
- GAP Insurance covers your car when it’s being used for regular road driving, as long as it hasn’t been modified. However, if you’re involved in competitive driving or have made modifications to your car, there may be exceptions to your coverage.
