All-too-often, buying a vehicle can be a confusing process. Not least due to the array of extra financial products you may be offered alongside your new car or van. If these options aren't explained properly or fully, it can be difficult to know whether or not they're worth buying.
This is why we at Carbase ensure we explain exactly what each optional extra is and how it can benefit you as a used vehicle owner, so that you can make an informed decision as to whether or not it's right for you.
GAP insurance is one of these added value products. GAP stands for Guaranteed Asset Protection and is designed to cover the shortfall between an insurance pay-out amount and your vehicle's value when you bought it.
GAP insurance comes into play in the event that something happens to your vehicle - such as theft or a write-off. It's there to pay the difference when an insurance pay-out is less than what you paid for your vehicle, so you're not left out of pocket. Find out more on how many vehicles were stolen in 2019 >
But is GAP insurance worth it? Is it really something you need? If you're unsure whether you need GAP insurance for your next used car or van, our infographic below should help.
Ready to find out more? Learn more about the RAC GAP insurance we offer here at Carbase as part of our Members' Protection Programme.