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APEX Insurance

APEX is Asset Protection & Excess Cover otherwise more commonly know as GAP.   If your vehicle is stolen or written off as a result of an accident, fire or theft, most insurers will only pay market value for your vehicle even if the claim was no fault of your own​.  Depending on the age and mileage at the time of loss, this may be substantially less than the price you paid for it originally - potentially leaving you out of pocket.​  APEX insurance will cover the difference between the motor insurer’s settlement figure and the amount you originally paid for your vehicle - allowing you to get back on the road more quickly and avoid any unexpected costs. Plus, if the amount required to settle the finance agreement is greater than the original invoice price, we will cover the higher figure, meaning you won’t be paying for a vehicle you no longer use.​

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Benefits

  • Protects against a large financial shortfall should the worst happen
  • Returns you to your original position prior to the write-off
  • Freedom to do as you wish with payout
  • Enables you to purchase an equivalent vehicle and get back on the road
  • No need to increase borrowings or use savings
  • Temporary vehicle keeps you on the road for up to 30 days while your claim is processed
  • Peace of mind knowing that factory-fitted options and dealer-fitted accessories are covered

Features

  • APEX cover up to 36 months
  • A maximum benefit of up to £50,000*
  • Up to £500 motor insurance excess contribution*
  • Temporary replacement vehicle for up to 30 days*
  • For non-total loss claims, we reimburse the applicable excess, up to £500 per policy year
  • Any factory fitted options and dealer fitted accessories up to £1,500, and that are shown separately on the purchase invoice

* The cover you receive will depend on your eligibility and vehicle's invoice price.

Eligibility


You will be eligible for the policy if you are:

  • purchasing the policy no more than 90 days after delivery of the vehicle;
  • purchasing a vehicle with an invoice price less than £250,000;
  • the registered keeper of the vehicle.

Significant Exclusions

  • Any vehicle not insured by a comprehensive motor insurance policy.
  • Any claim where you have declined an offer to repair your vehicle and asked for the claim to be dealt with on a total loss basis.
  • Vehicles that are used for hire and reward, driving schools, speed testing or pace-making.
  • This insurance will not cover the cost of any new vehicle registration fees, insurance or warranty premiums, road fund licences, paintwork and/or upholstery protection kits, service plans, or any finance arrears or associated costs.

The full list of exclusions can be found on your policy document. A sample can be provided on request.