At Ping Insure, we believe in making things simple. That includes insurance. GAP insurance might not be something you think about often, but if your car is ever written off or stolen, it can make a major difference to your finances. Let’s break it down.

GAP Insurance Explained

GAP stands for Guaranteed Asset Protection. It is an extra layer of cover that pays the difference between your car insurer’s payout and either the amount you still owe on your finance or the price you originally paid for the vehicle — whichever is higher.

Your motor insurance covers the current market value of your car. But cars depreciate quickly. If your vehicle is declared a total loss, your insurer’s payout may fall short of what you need to clear your finance or replace the car with a similar one.

That is where Ping Insure GAP insurance comes in. We fill the gap so you are not left out of pocket when things go wrong.

Who Does GAP Insurance Help?

GAP insurance is for anyone who wants to protect themselves financially in the event of a serious loss. It is especially useful for:

• Drivers who buy on finance- If your car is financed, you might owe more than it is worth. If it is written off, standard insurance will not cover the outstanding balance. GAP insurance makes sure the remaining finance is paid so you are not stuck paying for a car you no longer own.
• New or nearly new car owners- New cars lose value fast. In the first year alone, your car could drop by 30 percent or more. If it is stolen or written off, your payout might be far less than what you paid. GAP insurance bridges that shortfall.
• Anyone who cannot afford a financial hit- Not everyone can afford to suddenly replace a car out of pocket. GAP insurance ensures you are not left scrambling for cash when you need a replacement vehicle.

Why Choose Ping Insure for GAP Insurance?

At Ping Insure, we keep our GAP insurance clear, reliable and packed with value. Here is what makes us stand out:

• We pay the difference between your motor insurer’s settlement and either your outstanding finance or your original invoice price, whichever is greater
• We pay up to £1,000 towards your motor excess
• Unlimited claims limit up to £50,000
• Cover applies to all named drivers over the age of 21 on your policy
• You can transfer your policy to a new vehicle on our Return to Invoice (RTI) and Vehicle Replacement Insurance (VRI) products
• Temporary replacement vehicle cover for up to 14 days if your vehicle is written off
• Our policies are backed by top-rated insurers. That means you get quality cover with dependable support when you need it most.

When Does GAP Insurance Kick In?

Let us say you buy a car for £26,000. A year later, it is written off in an accident. Your motor insurer values the car at £19,000 and pays that amount. But you still owe £23,000 on your finance agreement. That leaves a £4,000 shortfall.

With Ping Insure GAP insurance, we pay that £4,000 directly. You do not owe anything further. If you owned the car outright, we would cover the difference between the original purchase price and the market value — in this case, £7,000.

The Benefits Go Beyond the Basics

Some providers sell basic GAP insurance that sounds cheap on paper but comes with limits, exclusions or caps. At Ping Insure, we focus on providing real protection with real benefits, including cheap GAP insurance that does not cut corners.

We believe good value does not mean less cover. With us, cheap GAP insurance means smart pricing and strong protection.

Why Buy Now?

Car values fluctuate. Accidents happen. And finance agreements do not wait. The sooner you take out GAP insurance, the sooner you are protected from major financial exposure.

If you have just bought a new or nearly new vehicle, especially on finance or lease, now is the time to get GAP insurance in place. The longer you wait, the more you risk.

Ping Insure GAP Insurance: Peace of Mind Without the Price Tag

At Ping Insure, we do not believe in hard sells. We believe in smart cover that speaks for itself. Our GAP insurance is affordable, reliable and ready for real life. If your vehicle is written off or stolen, we are here to make sure your finances stay on track.

Get a quote today and protect your car with Ping Insure — the smarter way to buy cheap GAP insurance that actually delivers.