This policy is designed to get you back in the same make and model of vehicle that was stolen or written off. It helps to protect you against the risk that the car you want to replace is now more expensive to buy than it was when you made your original purchase, for example because you managed to get a great discount at the time which is unlikely to be possible to secure again.
Sometimes you manage to do a great deal on a new car and know it would be difficult to secure that level of discount again, so what happens if that vehicle is later written off or stolen? It could end up costing you much more to replace your vehicle on a like for like basis than you originally paid. On top of this, your comprehensive motor insurance policy is only likely to pay you the market value of the vehicle on the day of the claim settlement, not the day you bought it leaving you with a double gap in the event of a total loss. The Vehicle Replacement GAP Insurance policy is designed to InsuretheGap between the amount your comprehensive motor insurer pays in settlement, and the amount it would cost to buy an identical model, of the exact same age and specification as you originally purchased, even if the price has gone up!
Cost of vehicle £25,000
Insurance Pays £15,000
GAP Pays £10,000
"InsuretheGap.com" and “halo" are registered trademarks. InsuretheGap.com is a trading name of Halo Insurance Services Limited, a company registered in England and Wales Company No. 06929208. Halo Insurance Services Limited is authorised and regulated by the Financial Conduct Authority Register Number 504629
This insurance is underwritten by Fortegra Europe Insurance Company Ltd, Office 13, SOHO Office The Strand, Fawwara Building, Triq l-Imsida, Gzira, GZR 1401, bearing Malta company registration number C 84703. Fortegra Europe Insurance Company Ltd is authorised under the Insurance Business Act 1998 of the Laws of Malta to carry out general business, is regulated by the Malta Financial Services Authority, Triq Imdina, Zone 1, Central Business District, Birkirkara, CBD 1010, Malta, and is subject to limited regulation by the Financial Conduct Authority under reference number 805770.
You must be at least 18 years of age.
Any drivers of the vehicle must holds the appropriate licence to drive the insured vehicle.
The insured vehicle must be covered by a comprehensive motor insurance policy.
The vehicle must only be used for private or commercial use e.g. Not used as a taxi, courier or delivery services.
The insured vehicle must not be older than 10 years at the start of this policy