GAP Insurance (Guaranteed Asset Protection)

Protect your interests with comprehensive GAP vehicle insurance.

Vehicle Replacement

If your vehicle is stolen or written off you may only receive the market value of your vehicle as determined by your motor insurer. Last year there were over 1,073,000 thefts involving a vehicle* so it makes sense to protect yourself, protect your expensive asset with GAP insurance.
*Home Office statistical bulletin released on April 2013


About Vehicle Asset Protection (GAP Insurance)

This is a summary of the cover provided under the Vehicle Asset Protection scheme. The insurer, London General Insurance Company Limited (we/us/ our). A copy of the full terms and conditions is available upon request.


You are eligible to take out protection if on the Policy start date:

- if are an individual; you are over 18 years old; and

- the insured vehicle is less than ten years old and is the sole vehicle listed in the finance agreement (if any) and

- the insured vehicle is covered by comprehensive motor insurance and will remain so during the term of the Policy and

- you are resident, or if you are a company are registered, in the United Kingdom, Channel Islands or the Isle of Man.

The following vehicles are NOT eligible: Parallel imports, Grey Imports, emergency vehicles, taxis, courier vehicles, buses, trucks, motor homes, trailers, heavy goods vehicles, vehicles used for driving schools/ driving instruction, licensed private hire vehicles, daily rental vehicles and invalid carriers or vehicles used for hire and reward, road racing, rallying, pace-making, speed testing or any other competitive event or any vehicle which has been modified other than in accordance with the manufacturer’s specifications.


In the event of a motor insurer declaring the insured vehicle a total loss due to fire, an accident or theft of the insured vehicle, the policy will pay the greater of:

- Vehicle Replacement: the difference between the comprehensive road risks motor policy settlement at the date of loss and the purchase price*, up to the claim limit as shown on the policy schedule.


- Financial Shortfall: the difference between the comprehensive road risks motor policy settlement at the date of loss and the balance outstanding on your finance agreement (excluding arrears), up to the claim limit as shown on the policy schedule.

The purchase price is the amount paid to purchase the insured vehicle *excluding road fund licence, delivery charges, cherished number plate transfers, dealer fitted accessories, any amount over £1,000 in respect of motorcycle accessories, and any other administration fees, insurance premiums or subscription charges.

Please note:
No amount will be payable in respect of any credit provided under the agreement which exceeds the purchase price of the insured vehicle.

You should not accept any offer from your comprehensive road risk insurer until we have given you authority to do so.

If you receive a reduced payment from your motor insurer because you have not serviced the vehicle properly we reserve the right to reduce our claim payment accordingly.

Benefit is conditional upon you receiving a total loss payment under your comprehensive motor insurance.

The vehicle is covered in the U.K., Isle of Man and the Channel Islands.

For further details please refer to section 4 of the Policy terms and conditions.


No benefit will be paid:

- If the insured vehicle is not covered by fully comprehensive motor insurance at all times.

- If the total loss occurs outside United Kingdom, Channel Islands or Isle of Man. Please note: cover is extended whilst the insured vehicle is in any country of the EU or EFTA for a period of not more than 30 days in any 12 month period, but only subject to your insurer extending your comprehensive motor insurance during such period.

- If the driver of the insured vehicle at the time of the total loss was driving illegally (including but not limited to driving without a valid licence or whilst driving under the influence of alcohol or drugs) except in the event of theft.

- If you are offered a replacement vehicle under the terms of your comprehensive motor insurance, whether you accept the offer or not. • For any finance due on or carried across to your insured vehicle from previous finance agreements.

- For any motorcycle accessories which are not damaged at the time of the total loss of the insured vehicle.

- For any motor insurance excess above £250.

- A full list of exclusions is contained within section 4 of the Policy terms and conditions.



Law Applicable: Unless agreed to the contrary prior to Policy inception, this Policy shall be subject to English Law.

Compensation: You may be entitled to compensation under the Financial Services Compensation Scheme in the event that we are unable to meet our liabilities in full.

Claims and complaints: If you have any queries associated with this product including those relating to claims or complaints you may contact us on 0844 871 8033 or write to, TWG Services Limited, The Aspen Building, Floor 2, Vantage Point Business Village, Mitcheldean, Gloucestershire, GL17 0AF. For complaints relating to the sale of the Policy you may refer to your Status Disclosure document provided to you at point of sale. If your complaint is not resolved to your satisfaction you may contact the Financial Ombudsman Service at Exchange Tower, Harbour Exchange Square, London E14 9SR, Telephone 0845 080 1800. None of the above affects any right of action you may have.

Cancellation: You have the right to cancel Your policy at any time. If You wish to cancel within 30 days of the Starting Date or receipt of the Policy terms and conditions, whichever is the later, please notify the Supplying Dealer. If You are paying by Direct Debit please contact TWG Services on 0844 871 8033 Or write to TWG Services Limited, The Aspen Building, Floor 2, Vantage Point Business Village, Mitcheldean, Gloucestershire, GL17 0AF. If You cancel within 30 days and have not made a claim on the Policy any insurance premium paid by You will be refunded in full. If You wish to cancel at any time after 30 days and have not made a claim on the Policy, please notify the Administrator on 0844 871 8033 or write to them at the address above. You will be entitled to a pro rata refund, based on the number of full unexpired months remaining on Your Policy minus a fixed amount of £50 to cover Our costs incurred in relation to the cancelled Policy.

Language: This Policy is written in English and all correspondence entered into shall be in English.

Policy term: The cover period chosen by you will be detailed on your cover schedule. Cover is available for 12, 24 or 36 months. Financial shortfall cover will be limited to the term of your finance agreement.

Insurer: The insurer is London General Insurance Company Limited registered number 1865673, whose head and registered offices are at Integra House, Floor 2, Vicarage Road, Egham, Surrey TW20 9JZ. The insurer is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority FRN202689

Additional requirements: For large print, audio and Braille you can call us on 0844 871 8061 or text telephone 0844 871 8211.

Important Information: This document is for summary purposes only and intended as a quick reference guide.

Full terms and conditions are detailed in the Policy Documentation.


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