0800 227 000

Guaranteed Asset Protection (GAP)

Guaranteed Asset Protection or GAP insurance protects you in the event that your car gets stolen or you have an accident. GAP insurance covers the difference between an insurance pay out and what you still owe on the vehicle.

  • GAP can only be purchased in conjunction with a credit contract, and in the event of a total loss that credit contract must still be active.
  • The vehicle must be comprehensively insured.
  • The contract is for a maximum of 60 months or the length of the original credit contact.
  • Can only be taken out at the time of vehicle sale.


Example of a GAP Claim

You have an accident in your vehicle and the comprehensive insurer deems the vehicle to be a total loss. The insurer pays out to the financier, leaving a $5000 outstanding balance on your credit contract that you are liable for and which must be paid immediately. If you had GAP Cover, it would provide a payment of the outstanding amount less the comprehensive insurance premium and the original GAP Cover premium saving you potentially thousands. (Example Only)


Additional Benefits Include:

  • Any Excess in relation to the total loss vehicle.
  • On Road Costs comprising of dealer delivery and registration related to the purchase of the replacement vehicle.
  • Deposit for a replacement vehicle up to $1000.
  • Reimbursement for out of pocket expenses up to $200
  • Any amount relating to a prior debt included in the credit contract.
  • Reimbursement for the cost of hiring a rental vehicle for a maximum of 5 days.
This is only a summary of cover:

GAP Insurance is supplied by Autosure NZ. This is only a summary of cover, please speak to one of our Business Managers for full terms, exclusions, conditions, and benefits.