GAP Insurance from Tempest 4 Cars

We offer Guaranteed Asset Protection (GAP) Insurance to protect you when signing up for a finance agreement to pay for your next car. Two types are available – Financial Shortfall and Return to Invoice, which we explain below.


Financial Shortfall

If you are involved in an accident and the vehicle is written off by your insurance provider, Financial Shortfall GAP can pay the difference between the insurance settlement figure and any outstanding finance payments.

For example, if your car cost £18,500 to purchase, was valued at £12,000 at the time of the accident and you owed £15,000 in finance, Financial Shortfall would pay out £3,000.

Why choose Financial Shortfall

  • It protects your investment in the vehicle
  • Depreciation is refunded
  • There is no mileage restriction when the policy is purchased
  • You can replace your vehicle with one of similar value to its cash price.

Financial Shortfall covers cars up to a value of £50,000 and those registered up to ten years before the start of the policy. There is also no maximum mileage limit.

Return to Invoice (RTI)

RTI differs from Financial Shortfall as it covers the difference between the insurance settlement and the vehicle’s original price or the outstanding finance amount, whichever is greater. This means that if you need to make a claim, you can purchase a car of similar value to the one that was written off.

Using a similar example to the above, if you paid £18,500 for your car which is written off when valued at £12,000, RTI will pay out £6,500.

Why choose RTI

  • It pays out the largest amount possible
  • It provides cover for three years
  • It protects you from depreciation if you need to make a claim.

RTI covers vehicles up to nine years old, with a maximum mileage of 90,000, and to a value of £50,000 at the start of the cover.
GAP Insurance is a worthwhile purchase if you plan on financing your next vehicle purchase. Talk to us today for help in deciding which option is right for you.