GAP Claim examples

Total Loss Top Up - Example:

Stephen left his vehicle overnight at his local garage awaiting its service the following day. Overnight the garage was involved in an Arson attack and Stephen's vehicle caught fire and was destroyed and subsequently written off by the motor insurer.

Vehicle: VW Golf GT

Vehicle purchased for: £18,000

Date of fire: January 2016 (2 years after Stephen had purchased the Golf)

Motor Insurers market value payout: £12,000

Total Loss Top Up paid Stephen an additional, £3,000 (25% increase on the £12,000 that was paid by the motor insurer)