If your vehicle is written off or stolen before you finish paying the finance on it, your car insurance payouts may not be enough to repay what you still owe and replace your vehicle with another vehicle of equivalent value. Guaranteed Asset Protection (GAP) is designed to cover this financial gap.
Financial peace of mind in case your car is written off or stolen.
If you become one of the unfortunate motorists to have their vehicle stolen where the vehicle is not recovered or becomes involved in an accident where the vehicle is beyond economical repair, then you could find yourself in a dilemma.
- Accidental damage
- Fire
- Theft
GAP Insurance
A standard GAP Insurance policy is sold for three hundred and forty nine euros, for a three year insurance policy. Included in the price of this policy are insurer costs of fifty nine euros, government tax of sixteen euros, dealer commission of one hundred and sixty five euros and Mobilize Financial Services income of one hundred and eight euros inclusive of any administrative costs. The price of the GAP product and the associated costs will increase due to increasing levels of cover.
The administration costs noted above includes (but not limited to) the following areas of cost: Customer service, Account management, Website maintenance, Training costs, Distribution costs, Product information documents, Qualifications cost, Legal costs & Documentation fees.
