Mind the gap with GAP insurance

No-one likes to think about the possibility of an accident, and the idea of a write-off is even worse. But things happen in life, and being prepared is a great way to alleviate some of the stress and anxiety. With our GAP and Combined GAP and RTI insurance policies, you can rest assured that you’ll be protected when you need to be.


GAP is an acronym for Guaranteed Asset Protection, and the basic GAP insurance covers you if you buy a vehicle on finance or a lease agreement. It’s an insurance policy that sits atop your standard vehicle insurance to ensure that you have a better level of protection should a write-off occur. If you buy outright, don’t worry; there’s a policy for you too: Combined GAP and RTI insurance. Both of these policies could cover the gap left between what you need and what your insurer pays out after a write-off from an accident, fire, or theft, either to help make sure that you get the money to pay off what you owe or to get moving again.

Frequently Asked Questions

Your standard vehicle insurance will pay out in the event of a write-off, but insurers never give you what you actually paid for the vehicle. Depreciation — that is, the vehicle losing value — begins more or less immediately as soon as you drive your first mile, and it only continues after that. Insurers will only ever give you the current market value of the vehicle; that is inevitably far less than you expect. If you bought on finance, you could end up owing more than you get back. GAP insurance could help to cover the difference between what you receive from your regular insurer and what you still owe on your finance agreement.

Say you buy a van on finance for £30,000, and it gets written off. Your regular insurer will give you £15,000. That’s helpful, but you still have £25,000 left to pay on your finance agreement: that’s a gap of £10,000. GAP insurance could pay up to that £10,000 so that you can pay off your finance and not be left owing money on a van that you don’t even have anymore.

In that case, or if you buy outright and don’t have a finance agreement, you’d want to consider Combined GAP and RTI insurance. RTI stands for Return to Invoice Cover, and it’s a policy that will pay up to the van’s original purchase price, whether you bought outright or on finance. Combined GAP and RTI insurance could pay the greater of the GAP or RTI amount.
So, a Combined GAP and RTI policy means that, if you’ve bought outright, the RTI element of the policy could cover the difference up to your sales price when your standard insurer gives you less than you originally paid. If you’ve bought on finance, the Combined policy means that you could receive whichever is the greater amount: either the GAP payment for what you still owe on your finance or the RTI payment for the vehicle’s original price.
No worries, the policy is transferable.

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Usually, yes. Our policies are available on most vehicles whether they’re new or used.

Of course!
The Association of British Insurers. Don’t worry, it’s not the sort of thing you would probably normally know.

GAP Insurance from Swiss Vans

Planning for an accident is just not something anyone likes to do. But if your van is your livelihood or an essential part of your day-to-day family life, a write-off could be catastrophic even if no-one is hurt. Think about the pros and cons of a GAP policy for your situation. If you think it might be a good idea for you, ask us about our policies, and we’ll tell you everything we can to help you make your decision.

Take care, drive safe, and don’t worry; we’ll do what we can to ensure your peace of mind. And that, of course, involves selling you a great van!

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