Gap Insurance

As many really unpredicted and unexpected things may happen in a life of every driver and their car, gap insurance offers many subcategories of the asset protection. Our main asset - so the car in this case – can be protected by means of Back to Invoice (in short BTI) GAP insurance. It is available to both a company and an individual if the car is on finance (with the exception of Contract Hire), owned outright or simply on a personal loan. The insurance provider is usually able to supply cover for any vehicles that are up to five years old and the cover period is usually 3 to 4 years.

Follow up:

When the vehicle is purchased or placed on finance, the car dealer is supposed to supply the buyer with an invoice which states the invoice price paid for the car. In case of any insurance write-off, the car insurance company will pay the car purchaser what they believe can be the market value of the vehicle. The amount they are going to pay is probably significantly less than the driver paid for the car. It is here then that is the place for the Back to Invoice gap insurance. It will pay to the vehicle holder the difference between the insurance settlement and the original invoice price. If the car is on finance, the car owner should still benefit from a BTI GAP insurance considerable contribution towards the purchase of a replacement car.