Why would you need GAP Insurance when you buy a new car?

Everyone knows that when you buy a new car, it needs to be insured before you drive it away from the forecourt but did you know that brand new cars can lose 15-35% of their value in their first year?

Your standard car insurance will normally pay out if you were to write your car off but that is usually only the current market value of your vehicle. If you wanted to then purchase a replacement car or pay off your outstanding finance, your insurance pay out might not be enough – and that is where GAP insurance comes in.

GAP insurance can protect you from financial loss if your car is written off or stolen. It fills the gap between what the car insurer pays out and either the balance of your outstanding finance, or the cost of buying a new vehicle of the same model again.

Why choose MoneyMaxim for your GAP insurance?

We provide award-winning GAP insurance! Our policy took the Auto Express Best Buy 2026 prize - with the magazine describing our quote as ‘unbeatable’.

MoneyMaxim has teamed up with a leading insurer to offer great policies at excellent value. Choose between Return to Invoice or Vehicle Replacement GAP insurance.

We don’t just cover brand new vehicles! We can also cover used cars and vans too. You can also transfer your policy to a new vehicle if you decide to change your car during the term of your GAP policy.

What is the difference between Return to Invoice GAP insurance and Vehicle Replacement GAP insurance?

Return to Invoice – GAP insurance pays you back the price you paid for your car or the settlement figure for your car finance – whichever amount is greater.

Vehicle Replacement – GAP insurance pays you the amount you need to replace your car as it was when you bought it, even if the cost is now higher, or the outstanding finance settlement figure – whichever amount is greater.

How to get a quote for GAP insurance?

Getting a quote for GAP insurance is quick and simple with MoneyMaxim. There are just a few easy questions and you can be covered by an A-rated insurer in under a minute.

Run your quote for GAP insurance so you can be covered for your new car today.