GAP Insurance
Gap Insurance ensures that you aren't left out of pocket in the event of your car being written-off (even if it wasn't your fault!). When you take out a policy with Dynamo Cover, you're in safe hands because we are rated "great" by TrustPilot with over 10,000+ reviews and we also provide very competitive quotes.
What is GAP Insurance, why do I need it and why is it so important?
GAP Insurance, also known as Guaranteed Asset Protection, is a product that helps pay off your car finance if your car is declared a write-off. If you owe more than what your car is worth at the time, you could be left out of pocket. Therefore, GAP Insurance does what it says on the tin and that is to help pay the gap between the car’s value and what you owe.
GAP Cover For New & Used Cars
Although GAP insurance is primarily designed for new cars due to the rate they depreciate, our policy will also provide GAP cover for used cars too. Therefore, if you have an expensive used car that's only a few years old, Dynamo can help cover the "gap".
Do I Need GAP Insurance?
Although GAP insurance isn't a legal requirement, it provides peace of mind that you are covered to your car's true value if its written-off or stolen. Therefore, if you want the peace of mind GAP insurance provides, we would say that it's a worthwhile insurance product.
GAP Insurance Cover to the Rescue!
Whether you have an outstanding finance or return to invoice policy with Dynamo, we cover cars up to £80,000 in value and provide a range of additional benefits such as personal injury and even excess cover for further peace of mind.
Battling Your Car’s Depreciation With GAP Cover
Depreciation of a new car is unavoidable in the majority of cases and without a GAP insurance policy in place (such as return to invoice), you'll be set to lose the money it has depreciated in the case of a total-loss.
Don’t Be Left Out Of Pocket!
No one wants to be in the position where their car has been written off or stolen. However, if you aren't covered with GAP insurance, it only gets worse because you may be left out of pocket when you receive your insurer's pay-out.
Better Safe Than Sorry
Imagine how stressful it would be if you didn’t have GAP Insurance? It’s always better to be safe than sorry and at Dynamo Cover, our GAP insurance policies are tailored to you and we won’t be beaten on price!
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Read Our Policy Wording – GAP
Please take the time to familiarise yourself with our Policy Wording Document. Here you will find information relating to your GAP insurance policy.
Our GAP policy wordingOur GAP Insurance FAQ's
As well as paying any outstanding amount due to a lender or even paying you back the invoice price of the vehicle, our product also includes “Excess Protect”. This part of our GAP insurance policy makes a contribution towards the excess you have to pay to your motor insurer.
Whilst GAP insurance is not a legal requirement, it provides assurance that should your vehicle be involved in an accident or stolen, you are not left out of pocket or owing the finance company money for an asset you no longer have.
You can obtain GAP insurance for any vehicle no matter how you have paid. However; there are various different types of GAP insurance products so you will need to check which one is right for you. For example; ‘Outstanding Finance GAP’ would not be applicable if you bought the vehicle outright, as there is no finance in place.
GAP Insurance prices are based upon the value of the vehicle and the type of cover purchased. You can get a quote for GAP insurance directly with Dynamo Cover and you’ll receive a price within 30 seconds.
Not during the course of the policy, but the vehicle must be 8 years old or younger at the time of inception and have covered less than 80,000 miles.
