- A combination of Finance, Invoice and Replacement GAP Insurance – Covering up to the higher of either the outstanding finance at the time of claim or the original invoice price you paid for the vehicle or what it would cost to replace the vehicle with a brand-new equivalent.
- Available for eligible brand-new cars, where you are the first and only registered keeper, bought from a VAT registered motor dealer.
- Depending on the underwriter/provider available for your vehicle, Replacement 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.
- 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.
- NO right to revalue the purchase price of your vehicle at the time you bought it.
- Policy durations of up to 4 years available, subject to eligibility and the policy/provider selected.
- Claim Limits of up to £50,000 available, subject to vehicle value, eligibility and the policy/provider selected.
- FREE policy amendments.
Not sure about Replacement GAP insurance?
If you’re not entirely sure what Replacement GAP insurance is, please see our other blog articles: “What is Replacement GAP insurance?” and “How Does Replacement GAP insurance Work?“