- A combination of Finance and Invoice GAP Insurance in a single policy – This means that in the event your car is written off, the policy aims to cover the difference (the “gap”) between your motor insurer’s total loss valuation of your vehicle and the higher of either your finance agreement settlement figure at the time of claim or, the original invoice price that you bought your vehicle for, when you first bought it.
- Available for eligible new and used cars up to 10 years old, bought from a VAT registered motor dealer.
- Depending on the underwriter/provider available for your vehicle, Invoice GAP insurance may be available for vehicles purchased/taken delivery of within the last 180 days, although Arch-underwritten policies have a stricter 90-day limit.
- NO Market Value clauses.
- Ability to cancel the policy at any time and receive a daily pro-rata refund of unused premium (a cancellation fee may apply).
- CASH payout to you rather than to a nominated dealer, leaving you free to choose the provider of your replacement vehicle.
- All named drivers on your Motor Insurance policy, covered.
- Available for eligible cars bought for up to £100,000, subject to underwriter/provider criteria.
- OPTION to include cover for prior-vehicle negative equity, where available. Availability and limits depend on the policy/provider selected.
- OPTION to include Total Loss Courtesy Car cover (TLCc), where available. Availability, duration and terms depend on the policy/provider selected.
- Underwritten by Arch Insurance (UK) Limited or Helvetia Global Solutions Ltd UK Branch, depending on the policy/provider selected and eligibility criteria.
- May pay a contribution towards the excess on your Comprehensive Motor Insurance policy. The amount available depends on the policy/provider selected.
- FREE transfer of any unused premium on to a new policy on a replacement vehicle, subject to eligibility.
- Policy durations of up to 4 years available, subject to eligibility and the policy/provider selected.
- Claim Limits of up to £75,000 available, subject to vehicle value, eligibility and the policy/provider selected.
- FREE policy amendments.
Not sure about Invoice GAP insurance?
If you’re not entirely sure what Invoice GAP insurance is, please see our other blog articles: “What is Invoice GAP insurance?” and “How Does Invoice GAP insurance Work?“