Typically a new car may lose up to 60% of its value over 3 years, even used cars lose their value. We all love buying a new car but we also know that they lose value so quick especially in their first few years.
If you are unfortunate enough to be involved in a fire, theft or accident claim and your vehicle is declared a total loss, the Gap Insurance will pay the difference between your Insurance Companies Settlement and the purchase price of your vehicle or the amount outstanding on your finance agreement.
Purchase price of vehicle: €25,000
After a while (say 2 years) your car is declared a total loss – your insurance policy pays the market value of the vehicle €15,000
The Gap Insurance will pay €10,000
- • Cover lasts up to 3 years
- • Covers vehicles up to 8 years old
- • Covers vehicles with less than 120k mileage
- • Covers excess up to €250
If you are interested in getting a quotation please leave your name and number or email and we will call you back.
Talk to Joe
Not quite sure? We’re here to help with advice on your insurance needs. Call Joe on (01)5331820 or fill in the form and Joe will be in touch shortly by phone or email.