Important information about our GAP insurance

  • GAP insurance can be purchased from other providers.
  • Should you purchase a MotoNovo Finance insurance policy, we will receive a commission from the insurance provider.
  • If you choose to purchase an insurance policy from us, you have the right to cancel the policy and gain a full refund within 30 days of the insurance start date.

Exclusions and limitations

If you decide to take out a GAP or RTI policy with us, we will send you full details of the exclusions and limitations.  Some of the key exclusions and limitations are:

  • The policy will not pay out if your motor insurance policy does not pay out, or if they provide you with a new/replacement vehicle.*1
  • The policy will not pay out if you choose to modify the vehicle or use it for commercial/sporting purposes.*2
  • The policy will not pay out if you or anyone else driving the vehicle is intoxicated by alcohol or under the influence of drugs’ or if someone is driving the vehicle without your permission or a valid driving licence.*3
  • The excess under your comprehensive motor insurance policy is not covered if higher than £500 for Shortfall GAP. For RTI GAP, excess under your comprehensive motor insurance policy is not covered if higher than £250 for motorcycles, and £1,000 for cars and vans.*4
  • Any negative equity carried forward from the vehicle purchase or from a previous finance agreement will not be covered.*5

If you take out a policy you can find out more in the policy document.

Shortfall GAP policy reference: *1 3.2.8/3.2.2 *2 3.1 *3 3.2.9 *4 3.3.2 *5 4.2.   

RTI GAP policy reference: *1 3.2.2/3.2.8 *2 3.1 *3 3.2.10 *4 3.3.1 *5 2.1.