Total Loss Protection Cover
What is Total Loss Protect GAP?
In the event of a vehicle being stolen and not recovered or in an accident and declared a total loss, Total Loss Protect GAP Insurance is designed to protect you against financial loss in the event that your vehicle is declared a write off by your motor insurer. It has no restrictions on the length of time you have owned the vehicle, the age of the vehicle or the recorded mileage of the vehicle. This insurance will pay 25% of the motor insurers settlement amount, up to a maximum of £10,000. *
It is a form of GAP insurance designed to protect you against financial loss in the event that your vehicle is written off by your motor insurer. This insurance will pay 25% of the motor insurers settlement amount, up to a maximum of £10,000. *
Example 1:
If your motor insurer’s settlement is £7,000, Total loss Protect will pay out £1,750, which is equivalent to 25% of the insurer’s settlement
Example 2:
If your motor insurer’s settlement is £48,000 Total loss Protect will pay out £10,000, which is equivalent to the maximum benefit allowable.
Vehicles Covered
Most vehicles can be covered, other than vehicles that; are over 3,500kg GVW or have a purchase price in excess of £50,000 that are not fitted with a manufacturer approved tracking device, or are insured under a motor traders’ policy*.
*Full eligibility and exclusion details are contained within the Total Loss Protect Policy wording.
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