A Franchised Dealer is a new car dealership for a specific make of vehicle. Franchised dealers sell new and used vehicles.
A non Franchised Dealer is a used vehicle retailer that does not sell new vehicles.
A Leasing company can also be a broker who arranges leasing via a Leasing company.
A private seller is not a motor dealer but an individual selling his/her own motor vehicle or where a vehicle is purchased at an auction.
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These insurances cannot be renewed or extended upon their expiry and because they are only available to buy within 90 days after vehicle purchase - they will not be available to purchase upon your policy expiry.
It is important to choose a sufficient "period" of cover. These insurances do provide a monetary benefit upon cancellation if you change your vehicle earlier than anticipated, provided no claims have been made. Please read the policy terms and conditions prior to purchase.
The premiums quoted online are one-off premiums for the full period of cover chosen.
This is the recorded mileage your vehicle has travelled at the point of purchasing these insurances. Sometimes referred to as "speedometer or speedo reading", "odometer reading" or "miles on the clock".
At the time of purchasing cover, the vehicle mileage must have travelled;
Less than 10,000 miles for both the Contract Hire Gap and Vehicle Replacement Gap Insurance,
Less than 100,000 miles for Return To Invoice Gap, Finance Gap, and Tyre Insurance,
Less than 70,000 miles for Scratch & Dent and Alloy Wheel Insurance
We do not need to know your estimated annual mileage.
This means the vehicle was not financed in any way and was wholly paid for by cash.
Contract Hire or Finance Lease
A Contract Hire is an agreement under which you lease the vehicle for an agreed period and mileage and simply hand the vehicle back at the end with no pre-agreed option to purchase. These schemes can be identified by the monthly payments being subject to vat.
A Finance Lease does not have a hand back option. The vehicle must be sold to a third party. These schemes can be identified by the monthly payments being subject to vat.
PCP (Personal Contract Plan), HP (Hire Purchase)
A PCP (Personal Contract Purchase) is a finance agreement for all or part of the vehicle price at the end of which you have the option to, 1. Hand the vehicle back, 2. Purchase the vehicle, 3. Part exchange the vehicle. Payments under these schemes are not subject to vat.
A Hire Purchase is a finance agreement for all or part of the vehicle price that repays the lender in full and ownership passes to you. Payments under these schemes are not subject to vat.
Self arranged personal loan - (a loan not secured upon the vehicle)
This is a loan that is not secured against the vehicle, ie the vehicle details do not appear on the loan agreement. These are often bank or building society or other third party loans.
It is important to answer this question accurately. Unfortunately, this is not something we can advise upon. We recommend you contact your finance provider to establish which type of finance they have arranged for you. Choosing the wrong finance type could lead to you purchasing the wrong type of Gap Insurance and this could invalidate your claim.
This is the price you have agreed to pay for your vehicle, including all factory fitted options, dealer fitted accessories and services listed on the vehicle invoice. It is the "on the road" price after discount but BEFORE any part exchange allowance is deducted.. This figure should not include finance interest or deposits deductions.
If you are leasing your vehicle under a scheme in which you must hand the vehicle back at the end and have no option to purchase, this figure should be the manufacturer's recommended retail price including factory fitted options and a dealer fitted accessories.
Please remember, Gap Insurance 'tops up' what your motor insurer agrees to pay for your write off. The level of cover shown is the maximum this Gap Insurance will pay, additional to your motor insurers payout, to settle your 'gap'.
The above is a simple overview. Please refer to the full Terms and Conditions for a more detailed explanation.
This is either the date of your vehicle suppliers invoice or, if delivery was taken later, the date on the delivery/handover paperwork signed by you and your supplier, or the date you expect to take delivery.
Our Contract Hire & Leasing Gap Insurance policy will pay up to three of the original advance rentals to a maximum of £3,000.00 including VAT. This is paid when you enter into a new agreement for your replacement vehicle.
This additional benefit is provided at no extra cost!
Call to Buy Agreed Value Gap Insurance Now
If you wish to proceed and purchase an Agreed Value Gap Insurance policy, please call us on 01438 870615.
Our telephone lines are open Monday - Friday 9.00am to 5.30pm and Saturdays 10.00am - 2.00pm.
Why do we need to assist you?
To arrange an Agreed Value Gap Insurance, we need to establish the current Glass's Guide Retail Value of your vehicle based on the current mileage. Please ensure you have your vehicle registration number and current vehicle mileage available when calling us.
The Agreed Value Gap is a different type of Gap Insurance and is suitable for those who have either purchased their vehicle from a private seller (ie not from a motor dealer) or for those who have owned their vehicle for more than 180 days and are no longer eligible for the other types of Gap Insurance.
Using Your Credit
To enable us to apply your credit to a new policy, you must first cancel your unwanted cover and then return here to create your quote and complete your purchase.
Any credit due will then appear as a part payment toward the cost of your next policy at Step 5 on the final payment page.
To receive a credit for a cancelled unwanted policy, you MUST log in at Step 4 where we ask for the policyholders details. Once logged in you can complete your purchase and your credit value will be deducted at Step 5.
Now that you've agreed the eligibility statements you can now add this policy to your quote and consider other products if you wish or simply proceed to purchase.