GAP Cover

Protect your investment against loss of value with comprehensive GAP Cover from Mastercover.

GAP Cover from just £120

Your vehicle is perhaps the most valuable asset you own. Make sure that your investment is protected with GAP Cover from Mastercover which will protect your vehicle from losing value due to theft or accident. If your vehicle is written off or stolen, many insurers will only pay you the market value of your car at the time of loss, leaving you with inadequate funds for buying a new car.

GAP Cover allows you to cover your vehicle from 1-4 years, depending on the coverage you choose.

Did you know?

  • Our GAP products are available for new and used vehicles
  • You can take GAP insurance out within 90 days of vehicle purchase
  • “New for old” offered by the motor insurer doesn’t always apply
  • Many people have a Contract Hire Agreement and don’t realise the potential penalties associated with writing off a leased vehicle

What is GAP Cover Insurance?

GAP insurance represents the difference between the value of your vehicle and the balance that is still outstanding on financing or loans. It is most commonly taken out for small vehicles but many driving schools will require you to take out a GAP insurance policy on your car.

Purchase Price Protection

In the event of a total loss, this policy will pay the difference between the insurer’s settlement and the original net invoice price paid for the vehicle.

Combined Purchase Protection & Finance

This will pay the difference between the insurer’s payment and the original net invoice price paid for the vehicle. Alternatively, if the vehicle is on finance, this policy will pay the outstanding finance on the vehicle, if this is higher.

Lease GAP

This will pay the difference between the insurer’s settlement and the balance owing to the lease company.