Write off insurance

[Jean]

I have been asked by a member if I can find out if there is an insurance company that insures against loss when an accident writes a car off, and the value is less than what is owed on the car loan.

[glossop-lad]

is this the sort of thing you are after?

https://www.directgap.co.uk/products_finance_gap.aspx

allot of companys offer it, you normally buy it as a separate policy, new car companys sometimes offer it as an extra when you buy the car.

[Jean]

Thanks GL.  I'll print that and pass it to him.

[Patrick]

not sure if this would cover our profession most gap policies don't need to check the small print can be the same as ppi a waste of paper

[barrykenward]

Hi Patrick,

That was the case - however, now I understand that ADI's who purchase vehicles can utilise GAP insurance to fill the gap between book value and full value of replacement.

Regards,