GAP Insurance – otherwise known as Financial Shortfall Insurance – is your protection if your vehicle is written off or stolen. It’s aptly named to ‘bridge the gap’ between the original cost of your model and its value at the time of the write-off or theft.
Every make and model depreciates in value from the moment it’s driven away from the showroom. With standard motor insurance, only the value at the time of the claim will be provided, potentially leaving drivers out of pocket. If you choose GAP Insurance, the pay-out you’d receive would be enough to buy a new like-for-like car.
When you select a Chrysler or Jeep with GAP Insurance from Thames, the standard policy lasts for a fixed term of three years. It can be applied to all new cars, as well as approved used cars that are seven years old or less at the start of the policy. You’ll need to have fully comprehensive car insurance to qualify for GAP Insurance, and every driver who uses your vehicle must also be covered.
To learn more about GAP Insurance and how it could benefit you and your Chrysler or Jeep, please get in touch with Thames Motor Group in Tunbridge Wells.