Gap Insurance

Gap Insurance

Anyone who has finance on their vehicle should consider Gap Insurance. What is Gap Insurance?

GAP Insurance or Motor Equity Insurance covers the shortfall in the event that your vehicle is written off or stolen and your Comprehensive Motor Vehicle Insurance is not sufficient to pay out the finance owing on the loan.

No one wants to owe money on something they no longer own. Gap Insurance is a great way to protect yourself from being in the red.

With a policy through CoverU’s providers you can even include extras benefit which covers you for items inside the car or those not covered by your comprehensive policy.

Benefits off GAP insurance through CoverU:

• Eliminates your financial exposure to a shortfall.
• Allows you to insure your car for market value potentially providing you with cheaper comprehensive insurance.
• Provides added protection for your credit rating.
• Let’s you get back into a new car straight away with no burden from the old one.
• The premium covers you for the full term of the loan and in most cases can be included in the finance of the vehicle.