GAP Insurance

Guaranteed Asset Protection (GAP) protects you against losses that can occur in the event of your vehicle being written off or stolen.

Your vehicle insurer will pay out what the vehicle is worth at the time, but it is likely to be less than the amount you bought it for. 

You will need the funds to pay the ‘gap’ between what the insurer paid out and the full cost of the finance agreement, including interest and charges, not just the value of the vehicle. This deficit is what GAP insurance covers.

Types of GAP Insurance

MotoNovo Finance provides two types of GAP insurance to help you avoid a potential shortfall.

·        Finance GAP Insurance – to cover the shortfall of your outstanding finance agreement and the settlement you receive from your comprehensive motor insurance policy, less any excess over £500 for cars and vans, or £250 for motorcycles.

·        RTI (Return to Invoice) GAP Insurance – to cover the difference between the amount you paid for the vehicle and the amount your insurance company will give you as compensation for the loss, less any negative equity.

Want to find out more about the GAP insurance we provide or get a quote? 

                          Finance Gap                                        RTI Gap

MotoNovo Care

How short-term protection can help you cover financial commitments

MotoNovo Care can help you cover your financial commitments by maintaining payments on the vehicle in the event of accident, illness, unemployment, disability, terminal illness, or death.

With MotoNovo Care, you can choose the level of cover that suits your circumstances.

·        Unemployment protection – to help keep up your finance repayments in the event of unemployment or should you choose to give up your job to look after a close relative as a carer; if you do not already have income protection.

·        Accident and sickness protection – to help you continue to pay your finance repayments in the event of long-term sickness and accident until you can return to work.

·        Life and terminal illness cover – to help you settle your finance agreement in the event of death or terminal illness, if you do not already have existing income and life cover.

Want to find out more about MotoNovo Care click here.

Already have a motor finance agreement with us?

Give us a call to find out more about the insurance products we offer and how they can be built into your current agreement. You can even request a quote over the phone.

02922 250338

Opening hours:

Monday to Thursday: 9:00am to 7.00pm
Friday: 9:00am to 5:00pm
Saturday & Sunday: Closed