Hi and welcome to this short video clip from
our frequently asked question series brought to you by the car2cover team. In this video
I’ll answer the question “What happens to my Gap Insurance if I change my car?”
If you purchase a Return To Invoice or Vehicle Replacement Gap Insurance from car2cover after
1st November 2012 – you have two options available to you.
Firstly, you can transfer the remaining period and level of cover to your next vehicle and
our insurer will do that for you without a charge. When you do this, you must be sure
the remaining period and level of cover is adequate for your next vehicle as policies
cannot be extended or adjusted during a transfer and the policy would not be renewable when
it expires. Your second option option is to simply to
cancel your policy and receive a refund of unused premium less a cancellation fee charged
by the insurer. If you are choosing a Finance and Contract
Hire Gap Insurance after 1st November 2012, please be aware these policies are not transferable. So
– if you are changing your vehicle and you have a Finance and Contract Hire Gap Insurance,
you can cancel your policy and receive a refund of unused premium less a cancellation fee
charged by the insurer. Policies purchased before 1st November 2012
may or may not be transferable so please refer to your specific policy Terms and Conditions
document for details – or call us for clarification. All policies purchased before 1st November 2012
were not premium refundable, so again, please refer to your policy documents.
I hope you found these answers helpful. If you have any questions – please feel free
to contact us using the details below. Thanks for watching and bye for now.