PistonHeads

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PistonHeads is working as a GAP Insurance introducer for ALA IB Limited trading as ALA Insurance Brokers, who is Authorised and Regulated by The Financial Conduct Authority. FCA Firm Reference No 571109. Registered in England, number 06833207. Registered office: ALA IB Limited, Unit 3, Park Farm Courtyard, Easthorpe, Malton, YO17 6QX

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Motorbike GAP Insurance


What is Motorcycle GAP Insurance?

Motorcycle GAP Insurance will protect you in the event your motorbike or scooter is declared a total loss through accident, fire or theft.

Motorcycle Vehicle Replacement Plus covers the difference between your motor insurer’s settlement and the cost of replacing your bike new for old (or with one of the same age as the original bike at the time you purchased it, if not brand new).

If you have finance on the vehicle and the settlement figure is the higher amount at the time, either policy will pay up to that amount instead.



Do I need Motorcycle GAP?

With Motorcycle Vehicle Replacement, the answer to this is yes, if you want to:

  • Protect the value of your vehicle, which might be more than you paid
  • Protect against rising costs of new vehicle and/or any discount you received at the time of purchase

Can I buy Motorcycle GAP?

  • The motorcycle is under 10 years old and registered in the UK
  • The purchase price of your motorbike does not exceed £50,000
  • The motorcycle must be covered by a comprehensive or third party, fire and theft motor vehicle insurance policy with a motor insurer
  • The motorcycle is not on contract hire or leased
  • Your motorcycle is not a trike or quad bike
  • The Motorcycle or Scooter must have been purchased within the last 365 days from a VAT registered dealer


Motorcycle GAP Insurance Features:

  • Available up to 5 years for vehicles owned outright or on finance
  • We are fully authorised and regulated by the Financial Conduct Authority (FCA) and your policy is covered by the Financial Services Compensation Scheme
  • Pays as standard up to £250 of your Comprehensive Insurance excess
  • Our policies do not have a ‘Market Value Clause’
  • Our policies do not a have a ‘Glass Guide maximum retail value clause’
  • Any policy amendment made FREE of charge
  • This policy is combined with Finance GAP, it will either pay back to the replacement vehicle cost or the outstanding finance, whichever the greater. *see illustration below
  • Policy transfer – pro rata transfer of unused premium if you change your vehicle, with no admin fees
  • Available for motorcycles up to 10 years old, delivered within the last 180 days, or 365 days (if insured under a comprehensive Motor Insurance Policy which includes ‘New for Old’ cover for the first 12 months)
  • Discount available for renewal and additional policies


Motorcycle GAP Example:

Your purchase price: £10,000
Replacement cost at time of claim: £11,500
The amount owed to the finance company at the point of claim: £13,000
Your comprehensive market value insurance payout: £5,000
Our Vehicle Replacement Plus payout: £8,000
Comprehensive Insurance payout + ALA GAP Insurance payout = £13,000
(Leaving you clear of any owed finance on your vehicle)
Alternatively (without finance)...
Your purchase price: £10,000
Replacement cost at time of claim: £11,500
Your comprehensive market value insurance payout: £5,000
Our Vehicle Replacement Plus payout: £6,500
Comprehensive Insurance payout + ALA GAP Insurance payout = £11,500
(Leaving you enough money to purchase a new vehicle matching the original)