Guaranteed Asset Protection, more commonly known as GAP insurance or Shortfall insurance is additional cover which protects your BMW finances should your car be written off due to an accident, fire, floor or theft. In short, BMW GAP insurance or BMW Shortfall insurance helps to bridge the gap between the settlement amount from your motor insurer and the price your car was worth before the incident occurred. BMW GAP insurance helps
If you do not have GAP insurance and your insurer declares your vehicle as a write-off, as repairing your BMW isn't possible, you could be left with significantly less money than what your vehicle was worth before the incident. Or you could be left with less money than you need to clear off any applicable finance. Having GAP insurance for your BMW, will protect you from this financial shortfall by “topping up” the insurance companies’ settlement to make up the market value of your vehicle or the cost of replacing it with a similar model. Thus, BMW GAP Insurance covers you against losing out in these unsettling situations.
John Clark BMW, is a proud GAP insurance provider, meaning our teams in Aberdeen and Tayside, Dundee, are happy to generate a quote tailored to your needs. If you are interested in GAP insurance, or want to know more about GAP insurance, why not contact our specialist teams now. We look forward to speaking with you.