Yes. It is best to check the policy wording for a detailed list but exclusions of this nature would be things such as VAT if you are VAT registered, delivery cost, first registration fee, extended warranty charges, insurance products, service plans, arrears negative equity, administration fees, fuel, road fund licence and dealer fitted options (although factory delivery and fitted options are covered).

No. You can still purchase the GAP insurance immediately using the original registration. Once your private plate is fitted to the vehicle please advise us of the new details and we will update your records free of charge.

GAP policies cannot be renewed or extended yearly or at the end of the policy; therefore, it makes sense to effect a policy for as long as you plan to keep your motorbike.

If, having purchased a policy, and then subsequently change your motorbike before the policy expires, we will provide you with a monthly pro rata rebate of the original premium (subject full outstanding months and a £35 administration fee) which can be used in one of two ways:

1. It can be used by you as part of the premium for a new policy for your new vehicle, or
2. You can simply keep the rebate and use it as you wish.

GAP policies cannot be renewed or extended; therefore, it makes sense to effect a policy for the term of your agreement.

If, having purchased a policy, you subsequently cancel it mid-term before the policy expires (circumstances when the policy is transferable are contained in Can I change my vehicle and cover it with my existing GAP policy?) you will be provided with a monthly pro rata rebate of the original premium (subject to a £35 administration fee and whole unexpired months) which can be used in one of two ways:
1. It can be used by you as part of the premium for a new policy for your new vehicle, or
2. You can simply keep the rebate and use it as you wish.

The territorial Limits covered are:

1. The UK, the Isle of Man and the Channel Islands.
2. Up to a maximum of 90 days in any 12 month cover period in the The European Union, Andorra, Croatia, Iceland, Liechtenstein, Norway and Switzerland, provided that the cover provided by your motor insurer is an equivalent level of cover as you would have enjoyed in The UK, the Isle of Man and the Channel Islands.

No but the eligibility criteria and policy conditions must be met.

Yes if Total Loss occurs outside the United Kingdom, the Channel Islands or the Isle of Man where the vehicle has been driven for not more than 30 days outside the United Kingdom, the Channel Islands or the Isle of Man in the 12 months immediately preceding the total loss.

Not all comprehensive insurance policies provide cover if insured vehicles are hit by an uninsured driver, so it is best to check your policy.

Our GAP insurance is conditional on your main motor insurer settling your claim in the event that the vehicle is written-off. Provided they do, and you follow our claims procedure, then we will also make a settlement.

The insurers are covered by the Financial Services Compensation Scheme (FSCS) established under the Financial Services and Markets Act 2000. You may be entitled to compensation of up to 90% of the cost of your claim in the unlikely event that the insurer cannot meet its obligations. Further information about compensation scheme arrangements is available at www.fscs.org.uk

No; there is no need for it to do so because it would be refundable pro-rata by the DVLA if your vehicle is written off. If your vehicle is declared a total loss by your insurer, you send section 9 of the vehicle logbook to the DVLA. You will then receive an automatic refund in the form of a cheque within 4 weeks.

No.

Contract Hire and Lease agreements vary and things like maintenance charges may be included in your settlement figure from the finance company at the time of a total loss, but these would not be covered by your GAP policy. We recommend that you check your agreement for specific details.

Other costs which are not covered include:

• Road Fund Licence
• Excess mileage charges
• Late payments or arrears
• Initial deposits

Policies apply to a private individual or a sole trader who fulfils the eligibility requirements and whose name appears as the insured on the Policy Schedule, or

A partnership which, in the name of at least one partner, appears as the insured on the Policy Schedule, providing the partner is at least 18 years of age at the start date, and the partnership fulfils the eligibility requirements, or A limited company or other legal entity which fulfils the eligibility requirements and whose name appears as the insured on the Policy Schedule.

You may not require GAP Insurance because your vehicle may be fully protected with the insurance provided under the Motability scheme. Please check with the provider for confirmation.

In addition to the conditions mentioned in When can I buy a GAP Insurance policy? and the full list contained in the policy wording, a brief summary would be:

• Vehicles not registered and principally used in the UK
• Vehicles which have been modified in any way from the manufacturer’s specification.
• Vehicles not covered by comprehensive motor insurance.
• Vehicles used; as a goods Vehicle, as an emergency service Vehicle, for self- drive hire, public or private hire (unless included in definitions above) or is designed to carry more than 8 people including the driver.
• Lefthand drive vehicles.
• The following Vehicles; Bentley, Bristol, Cosworth, De Tomaso, Dorchester, Ferrari, Ginetta, Lamborghini, Lancia Thema, Maserati and Rolls Royce
• Any Commercial Vehicle over 3500kg.

GAP claim settlement is always conditional on your main vehicle insurer settling your total loss claim.

You must have in place for your vehicle a fully comprehensive vehicle insurance policy, issued by an authorised UK vehicle insurer, and which is maintained in force in your name throughout the period for which you are insured under your GAP policy.

In addition, cover extends to all named drives on that policy provided they have your consent to drive and they hold a valid driving licence and are not in breach of the conditions of that driving licence.

No; there is no need for it to do so because it would be refundable pro-rata by the DVLA if your vehicle is written off. If your vehicle is declared a total loss by your insurer, you send section 9 of the vehicle logbook to the DVLA. You will then receive an automatic refund in the form of a cheque within 4 weeks.

No; but to be clear, negative equity in this context means a finance balance for a previous vehicle which has then been added to a new finance agreement for a new vehicle. Only finance relating to the new motorbike is covered.

GAP Insurance is designed to protect you against financial loss if your motorbike has been declared a total loss or write off by your main vehicle insurer; however, the maximum amount paid out is restricted to the claim limit chosen by you, which is shown in your policy schedule.

If your motorbike is deemed a total loss by your main vehicle insurer, it will only pay you market value for your vehicle at the time of the incident, which considers age, mileage and general condition e.g. in the case of cars, a new car’s value after 2 years may only be 65% of its original value, which means that you may not be in a position to purchase an equivalent replacement vehicle. It is also important to note that the outstanding contract hire, lease or finance amount owed could exceed this figure, meaning that you may still have an uninsured liability that you still owe.

Total Loss covered by these FAQs occurs when your main vehicle insurer has declared your vehicle beyond economic repair and made settlement following fire, theft, or damage sustained as a result of an accident, malicious damage or flood occurring after the start date and before the end date of your GAP policy, irrespective of fault. The policy covers the difference between your insurance settlement at the point your vehicle is written off or declared a total loss and the amount outstanding on your contract hire, lease or finance agreement (restricted to the benefit cover level selected by you and shown on your policy schedule).

In all cases, the maximum amount paid is restricted to the claim limit you choose and is shown in your Policy Schedule.

Cover will also include up to a maximum of £250 of your main vehicle insurance excess.

This policy is, therefore, suitable if you have taken your vehicle on contract hire, lease or purchased it using any of the standard financing agreements or if you purchased it for cash.

You are able to select both the term of your policy to match your agreement term and the maximum amount of benefit that you would like to cover for in the event of a total loss.

The following questions and answers (which you should read) represent brief summaries; therefore, you should also check the policy wording thoroughly, to ensure that the policy suits your needs.

Claims should be reported to the claims administrator as soon as possible but within 60 days of the incident giving rise to the claim.

You must contact the claims administrator before accepting a vehicle settlement from your main vehicle insurer or your GAP claim may be affected.

The full claims conditions can be found in the policy wording, but you will need to provide the following supporting documents:

• Proof of the amount of payment of your total loss claim and the terms on which the vehicle insurance settlement was made.
• A copy of your vehicle insurance policy schedule,
• The original sales invoice relating to the vehicle,
• Details of your finance agreement/early settlement amount

Finance GAP:
Designed to cover the ‘gap’ between the Current Value of the Insured Vehicle and the Finance Early Settlement Balance payable to the Finance Company at the date of Total Loss if the Insured Vehicle is declared a Total Loss within the Period of Cover. The policy runs for a term of 60 months and includes a maximum contribution of £250 to the excess on the main motor insurance policy.

Combined GAP:
For 0 to 48 month period, this policy provides the difference between the settlement from your motor insurance or Glass’s valuation whichever is greater and the purchase price of the vehicle; or if the early settlement figure is greater on your finance agreement; however, for 49 to 60 month period, it provides the difference between the settlement from your motor insurance and the early settlement figure of your finance agreement (this is because all of our policies cover finance agreements up to 60 months). The policy also provides a motor insurance policy excess contribution up to £250.

Contract Hire and Leasing GAP:
This product is suitable for customers who are renting or have a contract hire agreement on the vehicle. In the event of a total loss it will protect against the outstanding hire/lease agreement settlement up to the chosen benefit limit. The policy runs for a term of 60 months but will end if the Hire agreement ends sooner. You have the option to also cover advance rentals or lease deposit up to a maximum of £3000. The policy also provides an excess contribution up to £250.00

All of the above types are available but different specifications/qualifications apply. The following represent brief summary answers; therefore, you should check the relevant Insurance Policy Information Document (IPID) and policy wording thoroughly, to ensure that you select the correct policy for your needs

A claim will be disallowed when an insured motorbike is left unattended, unless it has been locked, and keys removed from it and all security devices and immobilisers have been activated and are in full working order.

If it is new, the price you paid for it net of any VAT. It is within 180 days of purchase (as per the eligibility criteria), an estimate of its value now.

The level of cover or claim benefit is selected by you and set on your GAP policy at the time of purchase and is the maximum amount that will be paid in the event of a claim. You will also need to choose the period you wish cover to last.

The insurers are covered by the Financial Services Compensation Scheme (FSCS) established under the Financial Services and Markets Act 2000. You may be entitled to compensation of up to 90% of the cost of your claim in the unlikely event that the insurer cannot meet its obligations. Further information about compensation scheme arrangements is available at www.fscs.org.uk

Yes. Where you have a motor traders insurance policy, and have not purchased the vehicle at trade value, Glass’s Guide will be used to calculate the value of your vehicle at the time of the loss and will use this to determine the value of the claim to be paid.

GAP claim settlement is always conditional on your main vehicle insurer settling your total loss claim.

You must have in place for your vehicle a fully comprehensive vehicle insurance policy, issued by an authorised UK vehicle insurer, and which is maintained in force in your name throughout the period for which you are insured under your GAP policy.

In addition, cover extends to all named drives on that policy provided they have your consent to drive and they hold a valid driving licence and are not in breach of the conditions of that driving licence.

In addition to the conditions mentioned in When can I buy a GAP Insurance policy? and the full list contained in the policy wording, a brief summary would be:

• Vehicles not registered and principally used in the UK.
• Vehicles which have been modified in any way from the manufacturer’s specification.
• Vehicles not covered by a fully comprehensive vehicle insurance policy issued by an authorised UK vehicle insurer in your name.
• Vehicles used, as a goods Vehicle, as an emergency or military service vehicle, for self-drive hire, public or private hire, as a taxi, as a courier or delivery vehicle, as invalid carrier or driving instruction vehicle, for road racing, rallying, pace-making, speed testing or any other competitive event.
• Non-UK specification vehicles or not built primarily for sale in the UK, or is classed as a grey import, kit car, bus, coach, commercial vehicle weighing more than 3.5 tonnes, truck, heavy goods vehicle or static caravan.
• Vehicles modified other than in accordance with the manufacturer’s specifications.
• Vehicles stolen by any person who has access to the vehicle’s keys.
• The following Vehicles: All Fiat Abarth’s, BMW M models, Competition editions and Alpina, VW R models, Subaru Impreza/WRX, Nissan GTR, Mercedes Brabus, AMG 45 & AMG 63 models, Ferrari, Bentley, McLaren, Lamborghini, Rolls Royce, Noble, Aston Martin, Cadillac, Corvette, Hummer, Lotus, Maserati, Mitsubishi Evolution, Nissan GT-R and TVR.
• For electric or hybrid vehicles, where the battery is on lease, this policy would not cover any costs associated with the battery.

GAP Insurance is designed to protect you against financial loss if your vehicle has been declared a total loss or write off by your main vehicle insurer; however, the maximum amount paid out is restricted to the claim limit chosen by you, which is shown in your policy schedule.

It is available for personal or business cars, motorhomes and tourers, and small vans not exceeding a Gross Vehicle Weight of 3,500kg.

If your vehicle is deemed a total loss by your main vehicle insurer, it will only pay you market value for your vehicle at the time of the incident, which considers age, mileage and general condition e.g. a new car’s value after 2 years may only be 65% of its original value, which means that you may not be in a position to purchase an equivalent replacement vehicle. It is also important to note that the outstanding contract hire, lease or finance amount owed could exceed this figure, meaning that you may still have an uninsured liability that you still owe.

Total Loss for Contract Hire/Lease Finance GAP covered by these FAQs occurs when your main vehicle insurer has declared your vehicle beyond economic repair and made settlement following fire, theft, or damage sustained as a result of an accident, malicious damage or flood occurring after the start date and before the end date of your GAP policy. The policy covers the difference between your insurance settlement at the point your vehicle is written off or declared a total loss and the amount outstanding on your contract hire, lease or finance agreement (restricted to the benefit cover level selected by you and shown on your policy schedule).

In all cases, the maximum amount paid is restricted to the claim limit you choose and is shown in your Policy Schedule.

Cover will also include up to a maximum of £250 of your main vehicle insurance excess.

This policy is, therefore, suitable if you have taken your vehicle on contract hire, lease or purchased it using any of the standard financing agreements.

You are able to select both the term of your policy to match your agreement term and the maximum amount of benefit that you would like to cover for in the event of a total loss.

The following questions and answers (which you should read) represent brief summaries; therefore, you should also check the policy wording thoroughly, to ensure that the policy suits your needs.

You may purchase a policy provided you do so within 180 days of purchasing your motorbike from a VAT registered dealer, that it is less than 8 years old at the time of purchase and has done less than 120,000 miles.

All of the options are shown when you obtain a quote.

If you sell your insured vehicle, provided that no claim has been made under this insurance, you may transfer the remaining cover to the eligible replacement insured vehicle, subject to the insurer’s agreement and also subject to the eligibility requirements.

Where the Net Invoice Selling Price of the replacement insured vehicle is greater than the Net Invoice Selling Price of the original insured vehicle, an additional premium may be required. A new policy schedule will be issued confirming the replacement vehicle details. Cover will not include any refinancing.

In the event of bereavement, the remaining benefits of this insurance may be transferred to your spouse or partner.

If you would like to transfer this insurance, you must contact the broker who supplied this policy to you who will arrange for the transfer on your behalf.

The policy exclusions around negligence are clear. The policy will not pay out if the total loss was caused by a theft when your vehicle was left unoccupied (that is, nobody is inside it) and was left unlocked, with the windows or roof open or with the keys inside or on it.

Yes provided the modifications or accessories are itemised on the sales invoice from the VAT registered dealer at the time of purchase of the motorbike, and non-standard fittings will be covered provided that they are not considered to have a detrimental effect on retail prospects and/or value.

In the event of a possible claim under this policy, initially you should ensure that you have made a claim on your main motorbike insurance policy , then please follow the claims procedure set out below with written notice of the facts on which the claim is based, to be provided to the GAP Claims Administrator within 30 days of the date of the Total Loss. If such notice should not be given within such period or any extension agreed by the Insurer, no payment under this policy will be granted.

Claims Procedure:

Contact the Claims Administrator, Bankstone Ltd, Holroyds Mill, Old Lane, Halifax, HX3 5WQ or by telephoning 0330 2020 660 or emailing claims@bankstone.co.uk with the following additional information:-

• Your name, address and postcode
• a daytime contact telephone number
• the Policy reference number
• the Scheme reference number – LPGBTE217
• details of the vehicle

All named drivers on your main comprehensive motor insurance policy; however, GAP claim settlement is always conditional on your main motor insurer settling your total loss claim.

Anyone driving your vehicle under their own motor insurance or on a temporary/short term motor insurance policy will not be covered

Average figures suggest that a 2-year-old car would be worth about 65% of its original value, a 3-year-old vehicle 45% - 50% and for 4 years its value could drop to 35%-45%.

However, this is not an exact science because rates can be affected by such things as make/class of vehicle, mileage, condition, and general marketability at the time of a total loss.

Also, lease and contract hire companies vary greatly on their policy reclaims with regard to a total loss; therefore, you should check your agreement in order to determine a realistic level of cover.

GAP policies cannot be renewed or extended yearly or at the end of the policy; therefore, it makes sense to effect a policy for as long as you plan to keep your car. The Finance GAP and Contract Hire & Leasing policies automatically run for 60 months.

If, having purchased a policy, and then subsequently change your car before the policy expires, we will provide you with a daily pro rata rebate of the original premium (subject to a £35 administration fee) which can be used in one of two ways:

1. It can be used by you as part of the premium for a new policy for your new vehicle, or
2. You can simply keep the rebate and use it as you wish

You may purchase a policy provided you do so within 185 days of purchasing your vehicle from a VAT registered dealer, that it is less than 10 years old at the time of purchase and the vehicle has done less than 100,000 miles.

All of the options are shown when you obtain a quote.

No, because in the event of a total loss, your main vehicle insurer will pay a settlement of market value and the GAP insurance is designed to “top-up” their settlement. Your GAP policy should only be required to match the difference between your insurer’s settlement and the outstanding finance balance on your financing agreement.

You may purchase a policy provided you do so within 180 days of “purchasing” your vehicle, provided that, at the time of “purchase”, it is less than 8 years old, has completed less than 80,000 miles, its value is no greater than £150,000 and it has been “purchased” from a VAT registered dealership or internet broker.

No. You can still purchase the GAP insurance immediately using the original registration. Once your private plate is fitted to the vehicle please advise us of the new details and we will update your records free of charge.

• Any vehicle sourced from outside of the UK will only be covered with the express agreement of the Administrator.
• Quad bikes, trikes, scooters, driving school vehicles or courier vehicles.

Motorbikes used for:

• Competitions or rallies, track days, racing, pace making, speed testing, reliability trials or off-road use.
• Solely for delivery or courier purposes.
• Driving tuition.

Yes, you must be at least 18 years of age.

Yes; the policy wording explains in detail all exclusions; however, the most common reasons a GAP policy will not pay out are:

• If your main motor insurance policy insurer refuses your claim.
• If a fraudulent claim is made.
• If you decline an offer of a replacement Vehicle under the terms of your Motor Insurance Policy, then your GAP insurance will settle your claim based on the value of the replacement vehicle and not the settlement figure offered under your Motor Insurance Policy

Average figures suggest that a 2-year-old car would be worth about 65% of its original value, a 3-year-old vehicle 45% - 50% and for 4 years its value could drop to 35%-45%.

However, this is not an exact science because rates can be affected by such things as make/class of vehicle, mileage, condition, and general marketability at the time of a total loss.

Also, lease and contract hire companies vary greatly on their policy reclaims with regard to a total loss; therefore, you should check your agreement in order to determine a realistic level of cover.

No; but to be clear, negative equity in this context means a finance balance for a previous car which has then been added to a new finance agreement for a new car. Only finance relating to the new car is covered.

Yes; the policy wording explains in detail all exclusions; however, the most common reasons a GAP policy will not pay out are:

• If your main motor insurance policy insurer refuses your claim.
• If a fraudulent claim is made.
• If you decline an offer of a replacement Vehicle under the terms of your Motor Insurance Policy, then your GAP insurance will settle your claim based on the value of the replacement vehicle and not the settlement figure offered under your Motor Insurance Policy

It would be wise to consider the possibility that there may be instances where your insurer reduces your settlement to market value only. This can be for a variety of reasons, which include things like exceeding the annual mileage limit pro rata, adverse condition of the vehicle, because the vehicle has been stolen rather than being involved in an accident or if a replacement vehicle cannot be sourced within a certain number of weeks of the incident. In addition, it should be noted that you will not be able to effect one of our GAP policies after 180 days have passed since you purchased your vehicle. If you do not have GAP insurance, you could be left with a shortfall.<.p>

Either by one payment via bank debit or credit card or by 12 equal monthly instalments of a finance agreement with an interest rate of 11.5% (24.85% APR). Comprehensive details of the finance agreement are provided before you agree to it. .

These amounts include Insurance Premium Tax (IPT) which is a government introduced tax on insurance policies including car, home, travel, and pet insurance which every insurance provider has to charge and pass on to the Inland Revenue. .

The person named in the Policy Schedule must be the owner or registered keeper of the Insured Vehicle or must be financing the Vehicle on behalf of the owner or registered keeper.

Yes and no, in that delivery and factory fitted options are covered but dealer fitted options are not. Other exclusions would be things such as, insurance premiums, road tax, warranties.

It would be wise to consider the possibility that there may be instances where your insurer reduces your settlement to market value only. This can be for a variety of reasons, which include things like exceeding the annual mileage limit pro rata, adverse condition of the vehicle, because the vehicle has been stolen rather than being involved in an accident or if a replacement vehicle cannot be sourced within a certain number of weeks of the incident. In addition, it should be noted that you won’t be able to effect a GAP policy after 180 days have passed since you “purchased” your vehicle. If you do not have GAP insurance, you could be left with a shortfall.

Yes. It is best to check the policy wording for a detailed list but exclusions of this nature would be things such as VAT if you are VAT registered, delivery cost, first registration fee, extended warranty charges, insurance products, service plans, arrears negative equity, administration fees, fuel, road fund licence and dealer fitted options (although factory delivery and fitted options are covered).

GAP Insurance is designed to protect you against financial loss if your vehicle has been declared a total loss or write off by your main motor insurer.

It is available for cars, motorcycles, taxis (including black cabs), including small vans and motorhomes not exceeding a Gross Vehicle Weight of 3,500kg.

If your vehicle is deemed a total loss by your main motor insurer (typically because of an accident or theft), it will only pay you market value for your vehicle at the time of the incident e.g. a car’s value, 2 years after purchase, may only be 65% of its original value; however, the outstanding finance owed is likely to exceed this figure, meaning that you still have an uninsured labiality and no vehicle. Various types of GAP insurance have been developed to protect vehicle owners from losses incurred as a result of a total loss.

We rely on your main motor insurer to settle a claim and, as long as they do, so do we. For example, your insurer may not settle or may significantly reduce your settlement if your vehicle is stolen with the keys left inside because they may conclude that it is negligence e.g. if the keys are left inside whilst de-icing or paying for fuel. If this is the case, your GAP insurance cannot settle.

If your keys are stolen from your house or bag, your insurer would most probably settle your claim, in which case, so would your GAP insurance.

Not all comprehensive vehicle insurance policies provide cover if insured vehicles are hit by an uninsured driver, so it is best to check your main policy.

GAP insurance is conditional on your main vehicle insurer settling your claim in the event that the vehicle is written-off. Provided they do, and you follow the claims procedure, then the GAP insurer will also make a settlement.

Your policy is transferable in the following circumstances:

• If, in the event of a total loss your vehicle insurer replaces your vehicle with one of the same make, model and specification, you will be provided with a new policy for this vehicle for the remainder of the period of, and providing the same cover as was provided under, your original policy, free of charge. There is no administration or transfer fee, or
• In the event of your death within the period of this policy the remaining benefit of this insurance may be transferred to your spouse or partner, or
• If you sell or change your vehicle, provided that no claim has been made under this insurance, you may transfer this policy to an eligible replacement vehicle, as long as the new vehicle purchase price is not greater than the original vehicle purchase price, subject to the insurer’s agreement. There is no administration or transfer fee.

Not all comprehensive insurance policies provide cover if insured vehicles are hit by an uninsured driver, so it is best to check your policy.

Our GAP insurance is conditional on your main motor insurer settling your claim in the event that the vehicle is written-off. Provided they do, and you follow our claims procedure, then we will also make a settlement.

In 2019, UK Government statistics show the following numbers of reported road traffic accidents:

• Those involving cars exceeded 150,000, which equates to more than 410 per day through the whole year.
• Those involving light commercial vehicles exceeded 12,500 which equates to more than 34 per day through the whole year.

The level of cover or claim benefit is selected by you and set on your GAP policy at the time of purchase and is the maximum amount that will be paid in the event of a claim. You will also need to choose the period you wish cover to last.

The estimated list price of the vehicle and you will need to select the term of cover you wish to take.