“Demand is outweighing supply, so it’s never been more important to protect the original purchase price of your vehicle.
“GAP Insurance covers the difference between what your comprehensive insurer pays and what you paid for the vehicle originally – looking at our GAP Insurance claims data for last year, this average ‘gap’ was £5,596.”
Despite thefts and write-offs increasing year-on-year, 59 percent of drivers have never heard of GAP Insurance, and only nine percent have it, meaning its benefits are largely still unknown.
It is estimated that the total loss to UK motorists in the valuation difference over the last five years is £8.4 billion.
