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You will be offered Return to Invoice GAP cover when you purchase a vehicle with us, either online or at one of our dealerships. Your CarSupermarket.com customer advisor will help ensure that your policy is tailored to your vehicle and your specific needs.

As with any other insurance policy, there will be some exclusions with your Return to Invoice GAP cover, such as: Valid motor insurance cover -You must have a fully comprehensive motor insurance policy in place with an authorised UK motor insurer covering your vehicle against accidental loss and/or damage. If your insurer rejects your claim and does not make a settlement payment, you will not be covered by this policy.

What is NOT covered?

Any discount and/or contribution, delivery charges, number plates, road fund licence, new vehicle registration fee, administration fees, fuel, paintwork and/or upholstery protection kits, cherished number plate

transfers, insurance premiums (including for this policy), subscription charges or warranty charges.

û    Any finance arrears and associated costs, any negative equity and any VAT if you are VAT registered and able to reclaim the VAT element.

û    Any amount relating to grants, scrappage schemes, cash back schemes and battery hire or leasing.

û    Any deductions made by the comprehensive motor insurance provider for any damage not associated with the total loss claim or general condition of the vehicle.

û    Any claim where the comprehensive motor insurance provider has offered to repair the vehicle and you have requested the claim to be dealt with on a total loss basis.

û    Where you are entitled to or are offered a replacement vehicle under the terms of the comprehensive motor insurance, no Return to Invoice or Financial Shortfall GAP benefit will paid by us.

û    Where the vehicle is covered under any type of comprehensive motor insurance connected with the motor trade.

û    Where the vehicle or the driver is not covered by comprehensive motor insurance at the date of loss.

û    Any additional costs of charges incurred as a result of entering into an agreement with a third party for a temporary replacement vehicle.

û    Any additional excess reimbursement where:

•            the value of the claim does not exceed the excess under your motor insurance policy; or

•            the excess was waived or reimbursed; or

•            the motor insurance claim was for glass repair or replacement or for damage which occurred during routine servicing or repair.

Contact the Administrator as soon as you become aware of a potential Total Loss and before you accept any settlement offer from the Comprehensive Motor Insurance:

The Administrator will provide you with a claim form. Complete all sections of the claim form, ensuring any sections to be completed by others are filled in and return all required information to the Administrator.

Please note that the claim form and any other information the Administrator may reasonably require must be received within 30 days of the date of loss of the insured vehicle. If it isn’t, the Administrator will attempt to assess your claim. However, it may be difficult for them to investigate and settle your claim adequately.

We reserve the right to subject the insured vehicle to an independent assessment.

At the time of claim, the Administrator must receive evidence of the purchase of the insured vehicle. Such evidence must include the original or a clear bona fide copy of the original printed purchase invoice of the insured vehicle. The invoice must detail the supplying dealer’s name, address and VAT registration number and must show the full basic cost of the insured vehicle and the breakdown of all items, ancillary to the insured vehicle or not.

We or the Administrator may obtain and share information concerning any claim you may make against this policy or any corresponding road risks insurance claim you have made with the comprehensive motor insurance provider(s), the supplying dealer of the insured vehicle or your finance company (if any), for the purposes of administering your policy and claim.

In the event of a claim, any premiums due will be deducted from the amount payable by us under this policy.

Return to Invoice GAP provides you with essential cover and increased peace of mind. While a vehicle being written off or stolen is fortunately a rare event, there are still around 1000 vehicles written off every single day in the UK. Of course, we hope that you will never have to use your Return to Invoice GAP policy, but we know that if this happened to you, you would feel better for having a policy like this in place, tailored specifically to your needs.

The policy works on a “pay as you go” basis and the first month is free. Premiums for the second and subsequent months are payable monthly, in advance, and will be collected by Direct Debit by the administrator. Each consecutive monthly premium you pay provides cover for the following month. We recommend that you review the policy from time to time to make sure that it still meets your needs and is suitable for you. To help with this, the administrator will contact you shortly after each twelve (12) month period from the start date of the policy to remind you to carry out such a review.

This cover will run from the start date detailed on the policy schedule and will end on the earliest of the following:

• You failing to pay your premium when due; or

• You or the vehicle no longer meeting the eligibility criteria; or

• The date on which the vehicle is sold or transferred to a new owner, unless transferred to a family member; or

• The date on which the policy is cancelled; or

• The date on which a total loss claim is paid; or

• Forty-eight (48) months from the start date as detailed on the policy schedule.

You have the right to cancel the policy at any time. If you wish to cancel this policy, you can contact the administrator, Premia Solutions Limited:

• by visiting https://www.mypremia.co.uk; or

• by telephone on 01926 622 660; or

• by writing to Customer Services, Premia Solutions Limited, 3 Corunna Court, Corunna Road, Warwick CV34 5HQ.

As this a monthly rolling insurance policy, no refund is payable in the event you cancel your policy.

In the event of cancellation, cover will continue to the end of the period for which premium has been paid.

If for any reason you fail to pay any monthly premium or we are unable to collect any monthly premium, the administrator will write to you to notify you and attempt to collect the monthly premium again.

In the event the administrator is unsuccessful in collecting the monthly premium the second time, your policy will be cancelled effective from the end of the period for which premium has been paid.

In the event of cancellation by either party, no cancellation fee is payable

The availability of insurance products like Guaranteed Asset Protection (GAP) insurance can vary over time due to several factors, including regulatory changes and market conditions. When you purchased your car, GAP insurance might have been available and commonly offered by insurers. However, regulatory bodies like the FCA periodically review and assess financial products to ensure they are sold in a fair and transparent manner and that consumers are adequately protected.

The decision by the FCA on February 9, 2024, to pause sales of GAP insurance from multiple firms suggests that there may have been concerns identified regarding how these products were being sold or whether consumers were fully informed about their benefits and terms. This regulatory action aims to address any issues and ensure that consumers are protected from potential unfair practices or inadequate disclosure.

Therefore, the availability of GAP insurance when you bought your car could have been influenced by regulatory standards and market dynamics at that time. Regulatory changes and reviews are intended to improve consumer protection and ensure that financial products meet the necessary standards of fairness and transparency.

As of the latest update, the pause on sales of Guaranteed Asset Protection (GAP) insurance imposed by the FCA has been lifted. This means that GAP insurance can now be sold again by insurance firms and car dealers in the UK.