If your car is written off or stolen, your comprehensive insurance typically covers only the current market value, which is often much less than what you paid for the vehicle. This payout is rarely enough to buy the same car again, especially with depreciation, therefore meaning the ‘replacement’ value is based on the equivalent vehicle you first bought – new or used.
Vehicle Replacement GAP Insurance covers the difference between your insurer’s payout and the cost of replacing your car with a brand-new equivalent (same make, model, and spec) — even if the price has increased since you bought it.
It’s the best option if you want to replace your car like-for-like, without the financial strain of depreciation. This cover ensures that you’re not stuck with a used or lower-spec vehicle, giving you peace of mind that you can get back in the same new car.
Vehicle Replacement GAP Insurance covers the new, higher price — not just what you originally paid.
This type of policy is typically only available for brand-new vehicles, purchased within the last 90 days. Check with us for eligibility.
Cover is available for up to 5 years, starting from the date of purchase.
We’ll cover the cost of the nearest equivalent replacement model at current price.
Don’t settle for less. With Veerkle Vehicle Replacement GAP Insurance, you can get back behind the wheel of the same new car — no compromises, no financial surprises.
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