As we all know, once your new car is driven off of the garage forecourt, it can depreciate in value. Guaranteed Asset Protection (GAP) insurance, is designed to help protect against this by bridging the gap between the original amount paid for the car, and the amount your insurer pays out based on the value of your vehicle at the time you make a claim.
In the event of your BMW being written off, your motor insurer will usually settle your claim based on the current market value of your vehicle. This could be a lot less than its original value and therefore may leave you with an unexpected shortfall.
GAP Insurance helps to cover the gap left by this shortfall to get you back in a new BMW or help pay off any outstanding finance, lease or hire agreement.
What's more, with GAP Insurance you are able to replace your car with no hassle, no need to find additional funds, and exclusive benefits.
GAP Insurance comes with the additional advantage of having all these benefits included:
If you have any further questions about what is involved,
you can get in contact with a member of our team directly. You can register
your interest GAP Insurance for your vehicle today by getting in touch with
your nearest Snows BMW dealership below. Alternatively, you can also select
'Enquire Now' to receive further details on our Insurance packages and latest
Terms & Conditions
^Plus additional limited cover in months 37 to 48 if your vehicle is subject to a finance agreement with a term greater than 36 months.
*Net Invoice Price - the amount that you have paid for the vehicle itself, excluding non-dealer fitted options and extras such as the road fund licence, or negative equity.
† Market Value means the greater of: a) The value of the Insured Vehicle (excluding contents) at the Date of Loss as assessed by the insurers of the Motor Insurance; or b) The Market Value of the Insured Vehicle (excluding contents) as at the Date of Loss by reference to Glass’s Guide Retail Value.