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How Our GAP Insurance Works

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How Does it Work?

Our insurance pays 25% of the market value of your vehicle in addition to the settlement paid by your insurance company. We also reimburse the first £250 of your policy excess. So as you can see from the illustration below, you end up with a much better insurance settlement if your car is written off.


The maximum we pay out is £10,000 (including the £250 refund for your excess). If you were comparing us to a traditional GAP insurance policy, this would be our "maximum level of cover" and it is the same for every policy we sell.


Will QDOS Total Loss Protector Pay Off My Finance?

We are a little different to traditional GAP insurance. You don’t need finance to take out our policy. You can simply protect against the depreciating value of your car from one year to the next so if your car is written off, you have extra money to buy a suitable replacement.

As you will see from our examples below, the majority of our customers with finance can normally expect our 25% payment to clear any outstanding finance and be left with extra to put towards a deposit on a new car. In circumstances where there is a large amount of negative equity a 25% payment may not quite clear the whole outstanding balance, but our customers will be significantly better off with our cover than without.

That is one of the reasons we think our cover is a great alternative to traditional finance GAP (for more reasons read, “Why We Are Different?”).

We’ll show you how our cover works with some examples.  However, it’s worth looking at how your insurance settlement can be worth less than your outstanding finance (a situation called negative equity).

Positive and Negative Factors


All cars depreciate at a different rates and depreciation can be effected by how well you look after your car and how many miles you travel per year (amongst other things). However, cars generally depreciate most in the first three years.

Vehicle Depreciation Value

You can check how much your car might depreciate using this calculator*.

We used that calculator to look at the depreciation of an Audi A5, a Ford Fiesta, a Vauxhall Insignia, a BMW 320 and a Volkswagen Golf. This gave an average depreciation of 34% in year one, 18% in year two, 18% in year three and 14% in year four and we used these averages for our calculations below.

This AA Article* suggests that cars lose about 60% of their value in the first three years, but after five years most of the depreciation is over.

*We cannot take any responsibility for the accuracy of the content or information on other people’s sites.

Here are a few examples.....


Example 2


Example 3


Example 4



Why Are We Different?

Our GAP insurance is a little different to other products and there are a few good reasons we think people might prefer our cover to the traditional polices.

Our Prices Can Be Very Competitive

Our prices are some of the lowest in the marketplace. However, you might also benefit from the way we calculate our premiums. Rather than look at the cost of your vehicle, we determine your GAP premium from the cost of your motor insurance (whether comprehensive or Third Party Fire and Theft). Accordingly, if you are a careful driver with lower cost motor insurance the cost of our policy can be less regardless of the purchase price or value of your vehicle.

Our Policies Are More Flexible

Normally you would buy a GAP product when you have just purchased a new vehicle to pay off the finance or to cover the difference between the purchase price and the settlement from your insurer (which is often less because cars depreciate in value so quickly). However, you are normally required to commit to a number of years (usually between one and five), and you have to pay your premium up front.

  • With our Total Loss Protector you buy cover for a year and then you can choose to renew it or not at the end of the term. You can do that as long as your car is less than ten years old, so you don't have to commit to such a big initial outlay and can chose how long you want the cover to run for from one year to the next. You can even allow your policy to lapse and then come back to us at any time.
  • You can also start the policy at any time as long as your car is less than 10 years old.

Our Policies are Renewable / Available at Anytime

We insure cars that are less than ten years old and our policies last for 12 months. So if you have a policy with us and it lapses, or you have had GAP insurance with someone else, you can renew or take out QDOS Total Loss Protector to ensure your car continues to be protected.

You Can be Insured Third Party Fire and Theft

You can buy our GAP Insurance with a third party fire and theft policy, so if your car is a write off as a result of fire or theft you will have cover.

You Can Offset The Cost of Depreciation

The Automobile Associate published an article which confirms that, at least for the first three years of your cars life, it loses approximately 20% of its value each year (sixty percent in total). The actual depreciation will vary from car to car, deepening on the make and model of the vehicle, how well it is looked after, and the mileage it covers.

Our policy pays 25% of the market value of your vehicle at the point in time when it is written off. It is an annual policy, so in most cases it will cover the depreciation of your vehicle in the previous year or more.

Available After Your Existing Gap Has Expired

If you have had a GAP policy previously through a different insurer and it has expired, or you have had QDOS Total Loss Protection, you can always protect against future depreciation in the value of your vehicle by purchasing another annual policy from us.

You Are Not Tied Into A Long Contract

Our policies last for 12 months and you can renew them after that if you chose to do so. We do not need to agree how many years you want to be tied in for in advance. It’s your choice to renew your policy each year.

No Time Limit After Purchase of Car

You do not have to buy your policy within a certain period after you buy your car, your car just has to be less than 10 years old.

We refund £250 of Your Excess

Quite a few GAP insurers do this now, but not everyone does. We will reimburse up to £250 of your insurance excess as well as paying 25% of the market value of your vehicle (up to £10,000).

Our Policy is Transferrable

If you decide to sell your car, you can transfer the insurance onto your new car.

Please note that once you have made a claim on the policy it comes to an end, so you cannot transfer it once you have made a claim under it.


Who is Eligible to Buy a Policy?

If you own a private car or you are a driving instructor, which is less than 10 years old we can cover you.

There are a few vehicles we cannot cover and full details are included in the policy terms and conditions and the key fact document. To summarise the main point, however; we only cover cars (so no vans, whether they are used privately or not) and we cannot cover modified vehicles, vehicles that have been a previous total loss, vehicles insured under on motor trade policy, grey imports or vehicles not valued in Glasses Guide, and rental or commercial vehicles.


What We Don't Cover

If your insurance will replace your car, our cover will not apply. We believe that GAP insurance may be unnecessary if you have suitable cover with your insurer, so it is worth checking before incurring additional expense. Also if your car is deemed repairable by your insurer but you choose to have it written off, our insurance will not cover you.

We do require you to claim against either your own insurance, or if you were not at fault using an accident management company, against the insurer of the negligent motorist. If you are the innocent victim of a road accident, please contact us and we will help you.

For the cover to apply, your vehicle must be driven by someone with a valid license, who is insured to drive the vehicle and who is driving it with your consent. Please ensure that anyone driving the vehicle is not under the influence of alcohol or non-prescription drugs, as that could also invalidate the insurance.

Please don’t leave your car unlocked and unattended as that may invalidate the insurance. If your vehicle is stolen or a write off as a result of vandalism or malicious damage please be sure to report it to the police and obtain a valid crime reference number otherwise we may not pay your claim.

These are not a full list of exclusions. Please refer to the Policy terms and conditions and the KeyFacts document.

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