Ideal for those with brand new or nearly new cars
It's common knowledge that brand new cars, once driven off the forecourt of a dealership usually depreciate rapidly. The amount a car depreciates depends on a number of factors including the make, type of car, mileage covered, its age and condition.
GAP insurance through Wesleyan is to give you peace of mind. It is designed to protect the value of your vehicle and to ensure that you are not left out of pocket if you have an insurance loss by covering any shortfall between your insurance pay out and the amount outstanding on the finance agreement.The cover includes:
- Unique Benefit- Hire vehicle supplied for up to 28 days whilst you await the settlement for your standard motor insurance
- Maximum invoice value up to £150k where you have not agreed the value of your car with the insurer
- Cover for cars valued over £150,000 on an agreed value basis (agreeing a value with the insurer)
- Maximum benefit £50,000
- Contract hire & lease included
- Transferrable to replacement vehicle
- 90 Days cover in European Union (subject to main policy cover being unaffected)
What is not covered:
- Cars over the value of £150,000 without agreed value
- You will not be paid out more than the short fall
- The vehicle must have less than 80,000 miles on the clock at purchase
Limits and exclusions do apply. For full terms and conditions of the policy and cover, including the policy benefits and exclusions, will be contained in the Policy Wording and Policy Summary.