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Gap Insurance

If a total loss happens as a result of a collision, theft, or fire, GAP covers the difference between the newly purchased vehicle’s value and its market value on the day of the accident.

We offer a few different options for this insurance. GAP offers full protection against vehicle depreciation for up to five years and allows you to buy a new vehicle of the same class or to fulfill your remaining financial obligations.
GAP insurance protection is available for passenger cars, commercial vehicles, trucks, trailers, motorcycles, agriculture, and forestry vehicles.

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What is GAP?
GAP insurance offers protection against the depreciation of a vehicle’s value which is particularly severe in case of new vehicles during the first five years of operation.

Definition of GAP

GAP Insurance covers the difference between either an invoice value of a newly purchased vehicle (GAP Invoice) or a vehicle value provided on a Casco policy in case of a vehicle already in operation (GAP Casco) and a vehicle’s market value on a day of a total loss.

It is well known, that any vehicle’s value depreciates over time. GAP Insurance protects against a loss in value in case of total loss (a theft, fire, a traffic accident) for up to five years.

In case of a total loss, a GAP policyholder will receive two compensations: the first one from the primary insurer (be it their Casco Insurer or the perpetrator’s liability insurance) and the second one from GAP. Thanks to that the investment made in the lost vehicle is protected.

GAP Features
Original vehicle value is preserved
A high compensation limit.
Attractive insurance premium
It is possible to sign a GAP insurance policy for up to 90 days from the date of the vehicle purchase or when renewing a Casco policy
Natural persons, legal entities or self-employed persons can all sign GAP insurance
Vehicles purchased for cash, leased, or mortgaged can all be protected with GAP Insurance
The remaining payments on your lease or mortgage are ensured
Fixed insurance premium, regardless of any partial damages sustained during the GAP insurance period.
Freedom of choice of a primary insurer
Transferability of rights to a new vehicle owner
Possibility to insure up to either net or gross vehicle value
Przykład

Samochód o wartości fakturowej 60 000 лв. został skradziony w 3 roku użytkowania. Podstawowy ubezpieczyciel wypłacił właścicielowi odszkodowanie, stanowiące wartość rynkową auta z dnia szkody, w wysokości 40 000 лв.. „Brakujące” 20 000 лв. poszkodowany otrzymał z tytułu ubezpieczenia GAP, które pokrywa różnicę pomiędzy wartością zakupu pojazdu, a wartością rynkową pojazdu z dnia szkody całkowitej.

Dzięki ubezpieczeniu GAP spłata rat leasingowych również nie stanowi problemu, a nadwyżka wystarcza na uruchomienie kolejnego finansowania.

VAT invoice vehicle value
30 000 EUR
GAP compensation 10 000 EUR
Casco compensation 20 000 EUR
Advantages of GAP
An additional compensation equaling the difference between the original value and the primary insurer’s compensation
Financial security in case of a total loss for a period of up to 5 years
The remaining payments on your lease or mortgage are ensured
Fulfilling of the remaining liabilities is guaranteed if the vehicle is leased or mortgaged
Option to purchase a new vehicle of the same value/class as the lost one
No disputes between Casco / third party Insurers and the Insured as for the amount of the compensation to be paid
Swift and efficient claims handling
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Enrich your Casco policy with GAP

In response to GAP, some Insurance Companies have decided to enrich Casco policies with an optional guaranteed sum insured, which allows maintaining the vehicle value for a year in case of total loss.

The vehicle value taken for a Casco policy is adjusted to the current market value annually, so the original vehicle value is not maintained. Therefore Casco does not offer full protection if a total loss takes place in later years!

Vehicle market value depreciation over a five-year service life
For example, a brand new vehicle’s price is

30 000 EUR

The approximate market value of the vehicle in the 1st year
24 000 EUR

The approximate market value of the vehicle in the 3rd year
16 500 EUR

The approximate market value of the vehicle in the 5th year
10 500 EUR