One of the more difficult choices you’ll have to make when taking out an Invoice Gap Insurance policy is the Claim Limit you wish for your policy to have.
The Claim Limit refers to the maximum amount – on top of your motor insurance payout – that the Invoice Gap Insurance policy will pay in covering some or all of the difference between your Motor Insurance payout and the original purchase price you paid for your vehicle.
However, we’ve done the hard work for you. If your vehicle invoice price is £50,000 or less, the claim limit of the Invoice GAP insurance policy will match the invoice price of your car (some companies refer to this approach as being an “unlimited” claim limit, due to the fact that it should be more of a claim limit than you would ever need). If your vehicle invoice price is more than £50,000, the claim limit of the policy is set at £50,000.