GAP INSURANCE

If your vehicle is written off or stolen before you finish paying the finance on it, your car insurance payouts may not be enough to repay what you still owe and replace your vehicle with another vehicle of equivalent value. Guaranteed Asset Protection (GAP) is designed to cover this financial gap.

Financial peace of mind in case your car is written off or stolen.

If you become one of the unfortunate motorists to have their vehicle stolen where the vehicle is not recovered or becomes involved in an accident where the vehicle is beyond economical repair, then you could find yourself in a dilemma.

GAP Insurance protects you in the event of a total loss due to:

• Accidental Damage
• Fire
• Theft

A standard GAP insurance policy is sold for three hundred and forty nine euros, for a three year insurance policy, included in the price of this policy is insurer costs of fifty nine euros, government tax of sixteen euros, Dealer commission of one hundred and sixty five euros and Mobilize Financial Services income of one hundred and eight euros inclusive of any administrative costs. the price of the GAP product and the associated costs will increase due to increasing levels of cover.

The administration costs noted above includes (but not limited too) the following areas of cost: Customer Service, Account management, Website Maintenance, Training Costs, Distribution Costs, Product Information Documents, Qualifications Cost, legal Costs & Documentation Fees.

What does GAP insurance cover?

This insurance product will complement your motor insurance by covering the gap between the value of your car and the pay-out made by your insurer.

GAP Insurance Return to Invoice (RTI) : bridges the financial gap between the total loss payment that you receive from your motor insurers and the amount you originally paid for your vehicle. Return to Invoice Insurance covers your Motor Insurer pays out and the Net Invoice Price you paid for your vehicle, up to the maximum shown on your policy schedule.

COSMETIC REPAIR INSURANCE - CRI

Unfortunately, scuffs and chips are a part of everyday driving. Someone carelessly opening a door in a car park can dent your pristine bodywork. But is it worth losing your motor insurance policy no-claims bonus for a small repair?

Even the smallest dent or scrape can cost a lot to repair, and can have a significant impact on the resale value of a car. If you make a claim against your insurance for the damage, this can also affect your No Claims Bonus.

Cosmetic repair insurance (CRI) can take care of restoring any eligible area of a car back to its original state – this means that your client won’t have to worry about potentially expensive repair costs, and their car will remain in showroom condition. Cosmetic repair insurance is available for new and used cars up to five years old.

Key Features & Benefits

• CRI provides a small body repair system that will keep your vehicle in showroom condition, without compromising your no-claims bonus.
• It ensures your vehicle remains free from chips, minor dents, light scratches and scuffs.
• If your claim is outside the parameters for Cosmetic Repair Insurance and cannot be fixed under these guidelines, there is a €250 contribution towards the cost of any individual body shop repair.

What damage is covered?

• Chips - Not exceeding 1.5mm diameter
• Dents - Not excedding 15cm in diameter
• Scuffs - Scuffed bumpers not exceeding 15cm in diameter
• Scracthes - Not exceeding 15cm in length