If your vehicle is written off, fully comprehensive insurers will only pay the depreciated value at the time of the write off.
Gap Insurance will pay the difference between;
a) the motor insurers claim settlement
b) what the owner originally paid for the vehicle
With this protection, the motorist will have the same amount of money to spend on a replacement as he or she originally spent.
Gap insurance must be purchased within 60 days of taking ownership of the vehicle.