GAP Cover – Loan Equity Insurance
An Autosure GAP policy covers some of the difference (the gap) between a total loss payout on your vehicle by your comprehensive insurer and the balance owing under your credit contract. This is called a loan equity shortfall.
GAP can only be purchased in conjunction with a credit contract and in the event of a total loss that credit contract must still be active.
The contract is for a maximum of 60 months or the length of the original credit contact.
Can only be taken out at the time of vehicle sale.