GAP (guaranteed asset protection) insurance is a product designed to protect your financial position in the event that your car is written off or declared a total loss through an accident or theft. Cars are designed to protect the occupants, and include crumple zones and air bags. This means cars are declared as a total loss, or beyond economic repair, by insurers with increasing frequency.
Importantly, Assurity Solutions GAP insurance will pay the difference between the current insured (usually market) value of your car and the original invoice price (return to invoice GAP), or between the current insured value and the outstanding finance amount (finance shortfall Gap). Assurity Solutions also provide GAP insurance for contract or lease hire, which may include cover for advance rentals that have been made.