What is GAP Insurance, why do I need it and why is it so important?

GAP Insurance, also known as Guaranteed Asset Protection, is a product that helps pay off your car finance if your car is declared a write-off. If you owe more than what your car is worth at the time, you could be left out of pocket. Therefore, GAP Insurance does what it says on the tin and that is to help pay the gap between the car’s value and what you owe. Below is an example scenario of how you would make use of a GAP insurance policy with Dynamo Cover:

CRASH! An Accident

Your car is written off, but not to worry, you have car insurance!

gap invoice | dynamo cover

You call the Car Insurer but…

They’ve only valued your car at £25,000 when you paid £30,000 for it! You’re now £5,000 out of pocket.

GAP paying out | dynamo cover

GAP Insurance Cover to the Rescue!

If you have Invoice Value GAP Insurance, the GAP Cover pays the £5,000 difference. Phew!

GAP finance | dynamo cover

Now my Finance Company want £3,000 Interest & Fees?!

Your finance company now wants £3,000 Interest & fees? If your car is on finance, then the finance company would still be owed any interest and fees.

GAP paying out | dynamo cover

GAP Cover to the Rescue!… (Again)

Because you have Outstanding Finance GAP Insurance, the GAP Cover pays you the £5,000 difference and the £3,000 in interest and fees to the finance company.

Dynamo cover helping hand

Better Safe than Sorry

Imagine how stressful it would be if you didn’t have GAP Insurance? It’s better to be safe than sorry. At Dynamo Cover, our GAP Insurance Policies are tailored to you. Choose between 1 to 5 years. We won’t be beaten on price!

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Read Our Policy Wording – GAP

Please take the time to familiarise yourself with our Policy Wording Document. Here you will find information relating to your GAP insurance policy.

Our GAP policy wording

As well as paying any outstanding amount due to a lender or even paying you back the invoice price of the vehicle, our product also includes “Excess Protect”. This part of our GAP insurance policy makes a contribution towards the excess you have to pay to your motor insurer.

Whilst GAP insurance is not a legal requirement, it provides assurance that should your vehicle be involved in an accident or stolen, you are not left out of pocket or owing the finance company money for an asset you no longer have.

You can obtain GAP insurance for any vehicle no matter how you have paid. However; there are various different types of GAP insurance products so you will need to check which one is right for you. For example; ‘Outstanding Finance GAP’ would not be applicable if you bought the vehicle outright, as there is no finance in place.

GAP Insurance prices are based upon the value of the vehicle and the type of cover purchased. You can get a quote for GAP insurance directly with Dynamo Cover and you’ll receive a price within 30 seconds.

Not during the course of the policy, but the vehicle must be 8 years old or younger at the time of inception and have covered less than 80,000 miles.

What Our Users Say


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Internal Customer Service Charter 2020-2021

Had various quotes for gap insurance, and this came out cheaper and with the same cover as more expensive competitors


It was quick and easy to sort out our Gap Insurance, no hassle and a good price


Very good professional service I had a small inquiry and dealt with right away thanks

Allan Reynolds

Excellent registration and payment process and very good value for money.

Fateh Ait Si

No Fuss, No Salesmen. Instant Cover. Now that a great Service.

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