GAP Insurance with AMA
Why Consider GAP Insurance?
Whether you own a car, light commercial vehicle, or motorhome, depreciation begins from the moment it leaves the forecourt. New vehicles can lose a significant proportion of their value within the first few years. If your vehicle is written off following an accident, theft, fire, or flood, your insurer will typically pay its market value at the time of the loss. This amount may be substantially lower than the price you originally paid or the amount required to replace it. GAP Insurance helps protect against this shortfall, reducing the financial burden of replacing your vehicle.
Protection Against Vehicle Depreciation
Vehicle depreciation is one of the largest costs associated with owning a new car. Even well-maintained vehicles lose value over time, with the steepest reductions often occurring in the early years. GAP Insurance provides an additional layer of financial protection, helping to reduce the impact of depreciation if your vehicle cannot be repaired and is deemed a total loss.