GAP: Frequently Asked Questions

Please find a list of frequently asked questions for GAP Insurance. If you do not find the information you need please Contact Us and we will be glad to assist


GAP insurance provides cover against the risk that if your car is stolen and unrecoverable or written off that your motor insurer’s settlement is less than either
● Your finance outstanding or lease termination charge
● The original purchase price
● The cost of an equivalent brand new vehicle
Depending on policy type chosen.
Buy a GAP Insurance here.

Your motor insurer will pay the current market value of your car if your car is a total loss.
This could be less than the finance outstanding on the vehicle and would almost certainly be less than the original price of the vehicle.
GAP insurance tops up your motor insurer’s settlement to give you enough to repay your finance or afford another car.

AutoeBid offers 3 policy types:
Lease GAP – for any cars on contract hire or lease agreement and want to receive an amount sufficient to repay your lease termination charge if your car is a total loss.
Return to Invoice with Finance GAP - for cars purchased using cash or finance (but not lease or contract hire) – and want to receive an amount up to the original purchase price of the car should your car be a total loss.
Vehicle Replacement Insurance – for brand new cars, where you are the first registered keeper and want to receive an amount up to the cost of an equivalent brand new car should your car be a total loss.
Try the GAP Insurance Calculator.

Insurance must be purchased within 30 days of receiving your vehicle for Vehicle Replacement Insurance or 60 days for Lease and Return to Invoice GAP.
You can also buy GAP up to 30 days in the future.
Buy GAP Insurance here.

You select the duration of your GAP policy. This can be 1, 2 or 3 years for Vehicle Replacement and Return to Invoice GAP or up to 5 years for Lease GAP.
GAP policies are not renewable, so you should consider for how long you would like to be covered in total.

No, in order to qualify for GAP Insurance the registered vehicle owner must have Full Comprehensive Insurance for the term of the policy.

A few seconds. Just enter your details on autoebid.com/gap to see prices and policy details.

It’s really easy we just need you to provide the Purchase Price, Purchase Method, Claim limit and Policy duration. There are drop down options for most fields to select.

Full payment amount is made immediately through our online checkout as a one off payment.

Once you have completed the application form there is a secure online checkout for payment by debit or credit card.

Yes, we currently do not offer GAP Insurance for vehicles in excess of £80,000, (or £50,000 for Vehicle Replacement Insurance).

No, the vehicle must have been purchased from a VAT registered supplier.

Guaranteed asset protection.

Yes, provided the modification is for mobility purposes only this is restricted to a maximum payment of £300.

The cost of your vehicle as confirmed in the net sales invoice, less any discount given for your vehicle. The net sales invoice will include factory fitted accessories, delivery for a new vehicle and up to a maximum of £1,500 for dealer fitted accessories, but excludes warranty charges, insurance premiums, new vehicle registration fees, number plates, fuel, paintwork protection applications, road fund licence, arrears or negative equity transferred from a previous finance agreement.
In respect of vehicles used for mobility we will cover up to an additional £300 towards the modification.

When applying for the GAP policy you must be the owner or registered keeper of the vehicle.

No, GAP insurance is also available independently of the dealership and your finance provider.
We offer GAP from autoebid.com/gap.

The same policies are available for cash or finance buyers, however if you have bought with finance, then AutoeBid Return to Invoice will additionally cover your finance settlement amount should this exceed the net invoice price at time of claim.

Negative equity carried forward from a previous vehicle is not covered.
However where negative equity has arisen solely in relation to your current vehicle during the GAP policy term, then this is covered by your GAP insurance in the event of total loss.

If you have a car on contract hire or lease agreement then Lease GAP would cover your termination charge for early termination of the agreement should your car be a total loss.
Buy Lease GAP Insurance here.

If you purchased your car in the last 60 days using finance or cash (but not contract hire or lease agreements) you can purchase Return to Invoice GAP Insurance (RTI).
AutoeBid Combined RTI pays the difference between your motor insurer’s settlement and the net invoice price of your car or your finance settlement if higher, should your car be stolen and unrecoverable or written off.

RTI: is available for cars up to 8 years purchased from a VAT registered supplier and the GAP insurance is bought within 60 days of car purchase.
The GAP payout covers the difference between the settlement from your motor insurer and the original net invoice price you paid for the vehicle or your outstanding finance settlement if greater. i.e. regain your original car purchase price. (subject to selected claim limit). If you have outstanding finance on the car, this would be settled from your payout.
VRI: Is only available for brand new cars where you are the first registered keeper and the GAP insurance is bought within 30 days of car purchase.
The GAP payout covers the difference between the settlement from your motor insurer and the price of an equivalent brand new vehicle. i.e. you regain the value of a brand new car (subject to selected claim limit). If you have outstanding finance on the car, this would be settled from your payout.

Buy GAP Insurance here.

Aston Martin, Bentley, BMW Alpina, BMW M1, M3, M4, M5 or M6,Cadillac, Corvette, Ferrari, Hummer, Lamborghini, Lotus, Maserati, Mercedes Brabus, Mitsubishi Evolution, Nissan GT-R, Noble, Rolls Royce, Subaru Impreza, TVR.
Commercial vehicles are also excluded.

This depends on the Claim Limit selected. The available claim limits depend on the value of your vehicle.
Vehicle Replacement Insurance Claim Limit Minimum £5,000 – Maximum £20,000.
Return to Invoice and Finance Shortfall Protection Minimum 35,000 – Maximum £25,000.
Lease GAP Minimum £5,000 - Maximum £25,000.

No. GAP Insurance is available for both new and used cars – as long as the used car is no older than 8 years at the start date of the policy.

Policy holders have the right to cancel within 14 days of receiving their policy documents. A full refund will be paid without reasons needed.
After 14 days a pro rata refund is available subject to £35 cancellation fee (this includes the £7.50 fee charged by the underwriter).
Instructions of how to cancel should be included on policy documentation. GAP insurance purchased from AutoeBid should be cancelled by emailing mail@motorpocket.com and including your policy reference.

Yes, you have 14 days from the date you received you policy documents to cancel the policy and get a full refund.
Instructions of how to cancel should be included on policy documentation. GAP insurance purchased from AutoeBid should be cancelled by emailing mail@motorpocket.com and including your policy reference.

If you need to make a claim, please phone 0330 111 3998 as soon as possible. Alternatively please send an email to info@notifyaclaim.co.uk or write to Virtual Insurance Products Ltd, The Estate Office, Shadrack, Berry Pomeroy, Totnes, Devon, TQ9 6LR.

Only if the comprehensive motor insurance policy for the vehicle covers the person who was driving the vehicle when it was written off.

We would like to keep you informed in relation to our other finance and insurance products and request feedback on your experience as well as input into our research and analysis.
If you would prefer we did not contact you or that we only contact you by specific methods eg email only, then please drop us an email at mail@motorpocket.com.

Lease Shortfall Protection GAP is available for vehicles under 8 years at the start of the policy.

The Insurance is underwritten by Ageas Insurance Limited Registered in England and Wales No 354568 Registered office address: Ageas House, Hampshire Corporate Park, Templars Way, Eastleigh Hampshire, SO53 3YA. Ageas Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.