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1 Gap Insurance Gap Insurance gives you protection if your car is written off or stolen. It basically provides cover for any shortfall received from your motor insurer and the amount required to settle your finance agreement, up to the policy maximum.

2 Types of Gap Insurance:- Contract Hire GAP Insurance Cover features: Example: Pays off Outstanding Rentals Maximum term 5 years Pays up to 250 of your insurance excess All named drivers on the Fully Comprehensive insurance policy including Provisional Licence holders Maximum level of GAP cover available is 25,000 Doesn t cover arrears or maintenance shortfall Available for cars and vans up to 3.5 tons (unladen) Personal Contract Hire and Business Contract Hire agreements Free transfer for the remaining balance of the GAP policy if you change your vehicle before the insurance end date If your primary insurer replaces your vehicle new for old in the first and or second year, we will transfer the whole policy to your replacement vehicle FREE of charge Any amendment you wish to make to your existing policy, for example; change of address or registration number can also be made, again FREE of charge. If your Fully Comprehensive Insurance provider accepts your Total Loss claim, your GAP Insurance policy will pay out We cover for theft of keys A vehicle leased on a 36 month contract paying 3 months in advance leaving 35 rentals to pay at a monthly rental of VAT. Assume the vehicle is declared a Total Loss in month 4 leaving 31 rentals due. Total rentals due: 9,300 Leasing companies can charge up to 100% of outstanding rentals, without GAP Insurance this may well be payable by you as it is unlikely to be covered under your Fully Comprehensive policy.

3 Fleet GAP Insurance When buying Fleet Insurance for your company cars and commercial vehicles, have you considered Fleet GAP Insurance? - WHY YOU SHOULD. Please read on: If you unfortunately suffer a vehicle insurance loss, without Fleet GAP Insurance it is extremely likely that you will suffer financial loss when settling the car or commercial vehicle finance off - this can potentially be substantial. A Fleet GAP Insurance policy offers substantial discounts on multiple purchases and is available either as an annually renewable fleet policy or single policy: Free transfer for the remaining balance of the GAP policy if you change your vehicle before the insurance end date We cover under 18's with a Provisional Driving Licence If your primary insurer replaces your vehicle new for old in the first and or second year, we will transfer the whole policy to your replacement vehicle FREE of charge Any amendment you wish to make to your existing policy, for example; change of address or registration number can also be made, again FREE of charge If your Fully Comprehensive Insurance provider accepts your Total Loss claim, your GAP Insurance policy will pay out We cover for theft of keys

4 Motor Home GAP Insurance Eligibility Hire Purchase, Lease Purchase, Personal Contract Purchase (PCP), Outright Purchase, Personal Loan Back to Invoice is available to a company or private individual whether the car is on finance (except Contract Hire), owned outright or on a personal loan. We can supply cover for cars up to 10 years old with four years of cover. When the vehicle is purchased outright or placed on finance, the motor dealer will supply you with an invoice stating the invoice price you have paid for the car. In the event of an insurance write-off including theft of keys, your motor insurance policy will pay to you what they believe is the market value of the car probably substantially less than you paid for it. By having a Back to Invoice Insurance policy the policy will pay to you the difference between the insurance settlement and your original invoice price. If the car is on finance, you should still benefit from a considerable contribution towards the purchase of a replacement car of your choice when settled off. Free transfer for the remaining balance of the GAP policy if you change your vehicle before the insurance end date We cover under 18's with a Provisional Driving Licence If your primary insurer replaces your vehicle new for old in the first and or second year, we will transfer the whole policy to your replacement vehicle FREE of charge Any amendment you wish to make to your existing policy, for example; change of address or registration number can also be made, again FREE of charge If your Fully Comprehensive Insurance provider accepts your Total Loss claim, your GAP Insurance policy will pay out We cover for theft of keys

5 Motorcycle GAP Insurance Available for up to 3 years Available with Fully Comprehensive or 3rd party insurance* Pays up to 250 of your insurance excess Pays back to your original invoice price before any deposit deductions Doesn't cover for any arrears or negative equity shown on purchase invoice Motorcycle can be owned outright or on finance FREE transfer of any remaining premium on your GAP policy if you change your car before the insurance end date We cover under 18s with a Provisional Licence if covered on a Fully comprehensive policy If your primary insurer replaces your vehicle on a new for old basis in the first year, we will, in the event of a claim in the first year, transfer the whole policy to your replacement vehicle, FREE of charge Any amendments can be made to the policy, again FREE of charge If your Fully Comprehensive Insurance provider accepts your Total Loss claim, your GAP Insurance policy will pay out We cover for theft of keys Our policies DO NOT carry a % Glass Guide value rule. We will underwrite what ever the value you paid for your vehicle except for negative equity Example: Purchase price of: 12,500 After 27 months - write off value: 7,800 Shortfall: 4,700 GAP Insurance payment: 4,700

6 Am I eligible for cover? Eligibility for cover with a Motor Bike Gap Insurance Back to Invoice Price Protection Policy is shown below: The motor cycle is under 10 years old and registered in the UK The purchase price of your motor bike does not exceed 20,000 The motor cycle must be covered by a UK comprehensive insurance policy The motor bike has been purchased from an authorised UK distributor The motor cycle is not on contract hire or leased The motor bike will not be used as a taxi; for self drive hire and reward; for motor bike courier work, for motor cycle delivery, as a service motor bike or used in any motor cycle competitions; motor bike speed testing; motor cycle road racing; pace making or motor bike rallies Your motor cycle is not a trike If your motor bike fulfills the criteria above then you should cover your investment with a Motor Cycle Gap Insurance Back to Invoice policy. Why risk losing money on your investment if your motor bike is subject to an insurance write off? Protect yourself and your investment against any shortfall with a Motor Cycle Gap Insurance Back to Invoice Policy now. We have varying levels of cover to ensure that you are able to purchase the right Motor Cycle Gap Insurance Back to Invoice policy to suit your needs. Example: Original Cost of your car: 20,000 Deposit: 2,000 Amount of loan: 18, Months later the car is stolen or is in an accident and declared a total loss. Amount still owing to your finance company: 12,000 The insurance company pays you only: 9,000 Without a GAP policy, what will you have to do? Simple! The Vehicle owner has to pay the GAP With a GAP policy, what will you have to do? Simple! The Vehicle owner pays nothing

7 Back to Invoice Plus+ GAP Insurance Cover features: Available for 1 to 4 years Pays up to 250 of your insurance excess All named drivers on the Fully Comprehensive insurance policy including Provisional Licence holders Maximum level of GAP cover available is 25,000 Pays back to your original invoice price before any deposit deduction Doesn t cover arrears or negative equity shown on purchase invoice Available for cars and vans up to 3.5 tons (unladen) Vehicles owned outright Vehicles on finance - Hire Purchase, Personal Contract Purchase (PCP), Lease Purchase agreements or Personal Loan Free transfer for the remaining balance of the GAP policy if you change your vehicle before the insurance end date We cover under 18's with a Provisional Driving Licence If your primary insurer replaces your vehicle new for old in the first and or second year, we will transfer the whole policy to your replacement vehicle FREE of charge Any amendment you wish to make to your existing policy, for example; change of address or registration number can also be made, again FREE of charge If your Fully Comprehensive Insurance provider accepts your Total Loss claim, your GAP Insurance policy will pay out We cover for theft of keys Our policies DO NOT carry a % Glass Guide value rule. We will underwrite what ever the value you paid for your vehicle except for negative equity Example: Original Cost of your vehicle: 20,000 Deposit: 2,000 Amount of loan: 18, Months later the car is stolen or is in an accident and declared a total loss. Amount still owing to your finance company: 12,000 The insurance company pays you only: 9,000 Without a GAP policy, you will owe: 3,000

8 So what will you have to do? Simple! The Vehicle owner has to pay the GAP. Original cost of your vehicle: 20,000 Deposit: 2,000 Amount of loan: 18, Months later the car is stolen or is in an accident and declared a total loss. Amount still owing to your finance company: 12,000 The insurance company pays you only: 9,000 With GAP Insurance, you will receive: 11,000 So what will you have to do? Simple! You receive the difference of 11,000, 3000 pays off the finance house, and the remaining 8000 is yours. If the finance owing is greater than the original invoice price, this policy will revert to Finance GAP and clear the gap between the balance outstanding and the Insurers settlement.

9 Agreed Value GAP Insurance Cover features: Available for cars only Valuation based on Glass's Motoring Guide Retail Value at the policy start date Bought through a dealer or private individual or auction Up to 7 years old at the start of the policy Available if car owned outright, on finance or personal loan A new car delivered more than 180 days ago Free transfer for the remaining balance of the GAP policy if you change your vehicle before the insurance end date We cover under 18s with a Provisional Driving Licence covered under a fully comprehensive policy If your primary insurer replaces your vehicle new for old in the first and or second year, we will transfer the whole policy to your replacement vehicle FREE of charge Any amendment you wish to make to your existing policy, for example; change of address or registration number can also be made, again FREE of charge If your Fully Comprehensive Insurance provider accepts your Total Loss claim, your GAP Insurance policy will pay out We cover for theft of keys

10 Vehicle Replacement Protector Cover features: Available for 1 to 4 years Pays up to 250 of your insurance excess All named drivers on the Fully Comprehensive insurance policy including Provisional Licence holders Maximum level of GAP cover available is 25,000 Available for cars and vans up to 3.5 tons (unladen) Available for new and used vehicles up to 7 years old Not available if bought from a private original Vehicles owned outright Vehicles on finance - Hire Purchase, Personal Contract Purchase (PCP), Lease Purchase agreements or personal loan Free transfer for the remaining balance of the GAP policy if you change your vehicle before the insurance end date If your primary insurer replaces your vehicle new for old in the first and or second year, we will transfer the whole policy to your replacement vehicle FREE of charge. Any amendment you wish to make to your existing policy, for example; change of address or registration number can also be made, again FREE of charge If your Fully Comprehensive Insurance provider accepts your Total Loss claim, your GAP Insurance policy will pay out We cover for theft of keys Will replace with a new vehicle or one of a similar age when the GAP policy started If we are unable to source a suitable replacement vehicle, we will pay you the equivalent replacement value (not the invoice value) Our policies DO NOT carry a % Glass Guide value rule. We will underwrite what ever the value you paid for your vehicle except for negative equity

11 Example: Original Cost of your car: 20,000 Deposit: 2,000 Amount of loan: 18, months later the car is stolen or is in an accident and declared a total loss. Amount still owing to your finance company: 12,000 The insurance company pays you only: 9,000 Without a GAP policy, you will owe 3,000 With Vehicle Replacement GAP A new vehicle Please note Your car insurer may be offering you a new for old Comprehensive policy in the first year, you may, therefore, be considering deferring the start of your GAP policy for 12 months. However, your insurer will have exclusions built into the new for old element of their policy, e.g. the car must not exceed 12,000 miles in the first year. If you suffer a total loss in the first year and your claim for new for old is rejected because your claim is affected by an exclusion clause, you need to ask yourself; will your GAP provider who has deferred the start for 12 months payout within this 12 month deferred period? If they don t, you could well find yourself without any GAP Insurance for 12 months is it worth the risk?

12 Why buy VRP/GAP? How often do you hear of people who have their vehicle written off only to find that the Market Value offered by their insurer is not enough to replace the vehicle with a similar one or pay off any outstanding finance. Taking out a VRP/GAP policy will avoid this. Every 2 minutes a vehicle is stolen 60% of vehicles stolen in the UK are either never recovered or are damaged and written off.

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