What is Replacement GAP insurance?
If your car is written off through accident, fire, theft or flood, Replacement GAP insurance (commonly referred to as “Vehicle Replacement Insurance (VRI)” cover) aims to pay the difference between your Motor Insurer’s Total Loss valuation of your vehicle and the higher of either:
- The amount you owe the finance company at the time of claim, OR
- The original invoice price that you paid for the vehicle, OR
- The cost of replacing your vehicle with a brand-new version of the same (or nearest equivalent) vehicle, at the time of claim
Subject to eligibility, Replacement GAP insurance may be available for brand-new vehicles where you are the first registered keeper, the vehicle was bought from a VAT registered motor dealer, and the vehicle is within the permitted purchase/delivery window for the underwriter/provider available for your vehicle.
As a guide, Replacement GAP insurance may currently be available for vehicles bought/taken delivery of up to 180 days ago, although Arch-underwritten policies have a stricter 90-day limit. Vehicle value, claim limit, optional extras and other acceptance criteria also vary by underwriter and policy.
See “How Does Replacement GAP Insurance Work?” for more information, or click below to get a quote.
If Replacement GAP insurance is not available for your vehicle, we may still be able to offer an alternative GAP insurance product, such as Invoice GAP insurance or Top-Up GAP insurance, depending on the vehicle, how and when it was bought, and the insurer/provider eligibility criteria.
See “What Is Invoice GAP insurance?” and “What is Top-Up GAP insurance?” for more information.