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Gap Insurance
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Upto 75% cheaper than competitors

Upto 75% cheaper than competitors

Based on 10,911 Genuine Testimonials

Based on 10,911 Genuine Testimonials

Five Year Gap Insurance

If you are thinking about keeping you new vehicle for a number of years, then you may want to consider getting a Gap Insurance policy for the longest period possible.

Your motor dealer normally will offer you cover for a maximum of three years on a return to invoice basis, other online providers may offer you RTI or Vehicle Replacement cover for a maximum of 4 years. However, there are very few that offer you 5-year protection for your vehicle, and even then we think that a GapInsurance123 policy will have added flexibility that will make it stand out from the rest.

Five Year Gap Insurance

Perhaps it is inevitable in today's uncertain economic times that consumers look to protect their financial investment in a vehicle with Gap Insurance. It is also possibly inevitable that car buyers are now looking to keep their vehicle for a longer period of ownership. Vehicles are generally more reliable, as well as coming with longer warranty periods backed by manufacturers.

It has been suggested that consumers will keep a new vehicle, in average, for 63 months.

This had led to a shift in insurance requirements also. As we always do at GapInsurance123, we listen to the feedback and concerns of our customers. It was mentioned time after time that consumers now wanted Gap cover for as long as possible.

In late 2011 we were the first to announce that we could offer Return to Invoice and Vehicle Replacement Insurance for 5 years in the UK. Since the launch of our new policies in the last quarter of 2011, we have seen the amount of customers opting for 5-year gap insurance increase.

However, as rare as it is to find five-year cover, we are not now the only insurance brand who can offer a return to invoice and vehicle replacement for 60 months. However, there are product features we provide that you may not find elsewhere, regardless that we feel our policy stands out from the rest.

Why 5 year Gap Insurance from GapInsurance123 is better than the rest

A GapInsurance123 policy can offer a range of features simply not found in combination anywhere else. The most important of these would be the fact you can cancel, defer and transfer your return to invoice or vehicle replacement cover. Let's explain:


Cancellation - 5 years is a long time to commit to owning a vehicle, yet you may buy it with every intention to do so. What would happen with your Gap Insurance policy if you bought it for 5 years and then sold the vehicle after 2? Many Gap Insurance policies will offer you a refund within the 'cooling off' period of the policy (typically 14 days). If you cancel after this time then, unfortunately, you would not be due any refund at all.

A GapInsurance123 policy is slightly different (to say the least!). Your 'cooling off' period is 30 days, giving you slightly longer to consider your cover. If you cancel within that time, providing you have not attempted to make a claim, then we will issue a full refund to you.

After the 30 day period is up, you can cancel your gap insurance at any point, and you can apply for a 'pro rata' refund from the insurance policy administrators (less a £35 admin fee).

This means that is circumstances do change, and you simply sell your vehicle, then you only use a proportional amount of your premium.

Do not assume that all gap insurance policies will act the same as a GapInsurance123 policy on this, as many simply do not. Even ones that do offer cancellation and pro rata refunds will have a much high admin fee to do so.

Transfer - If you do sell your vehicle but actually as a part exchange for another vehicle then it is possible to transfer the remainder of your Gap Insurance policy onto your new vehicle. Your GapInsurance123 policy is able to do this for Return to Invoice, Vehicle Replacement, and Agreed Value Gap.

It is far more common for Gap Insurance to have a transfer option, however, we do offer a word of warning if it is offered elsewhere. At GapInsurance123 we ensure the ability to transfer the policy is written into the policy terms and conditions, it is in black and white. We understand that many brokers offer to transfer the policy if you return to them, however, it does not appear to be a term of the policy they promote. This may be fine if you return to them, but if you buy a policy for an extended period (say 5 years), what would happen if the broker was not around anymore? Without it written into the policy terms would the insurer still allow you to transfer?

Deferred start date - If you have replacement cover on your new vehicle from your motor insurer, then you may want to avoid having 'double cover' for the first year. With a GapInsurance123 Return to Invoice or Vehicle Replacement policy, you could take a 4 year policy and defer the start date for the end of the first year.

With GapInsurance123 you are not charged extra for this facility, so you get the full benefit of five-year replacement cover by only using four years from our policy.
Absolutely amazing. Simple, straightforward and easy to get a quote. I wish I used this provider for my last car, I would have saved over £200.
5 out of 5
Mr Stephen Mackay
Excellent - good choice of cover - great price - clear English and documents sent straight to my email address. I tried 3 quote engines or at least what I thought were quote engines and was told I'd get a call back with the quote -- it never happened. Very pleased.
5 out of 5
Mrs Tracey Collen
After researching various different outlets I chose GAP Insurance 123 as it appears to give the best value for money, just hope I never have to claim on the cover I have taken out.
5 out of 5
Mr Frank Wilson
I was nervous about finding GAP insurance for my self but when the dealer I bought my used car from wanted over £350 for GAP I looked around and got cover from gapinsurance123 for less than half the price. Great website with explanations of what the different types of GAP cover helying you to decide which is the most suitable product for you.
5 out of 5
Mr Nicholas Joel Hancock
Very simple process, terms and conditions clear and easy to understand. Saved 60% of the premium Dealer was offering. Well Recommended
5 out of 5
Mr david shuttleworth
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