Gap and RTI insurance
Gap and RTI insurance

What is GAP insurance?

Well, in the event of an accident resulting in your vehicle being written off:

Guaranteed Asset Protection (GAP) Insurance covers the difference between any outstanding loan on the vehicle and the current market value.

Return To Invoice (RTI) Insurance covers the difference between the market value of a car, and the amount you originally paid for it.

  • You bought your car using finance or a personal loan and you want to protect yourself against 'negative equity'.
  • You have a contract hire deal, where you sign up to a long-term rental package for a vehicle.
  • You're concerned about your new car depreciating in value and want to protect your investment.
  • Can be taken out for any vehicle worth up to £75,000 and less than 7 years old
  • In addition to the difference in value, you will receive your excess back, up to £250
  • No surcharge for paying by card
  • 24 Hour Claims report line
  • Low Cost Competitive Policies
  • Local Staff available in person or by phone

This is often sold by the car dealership at extremely inflated prices and added into your finance agreement. It is advisable to ask exactly how much you are paying for this insurance before agreeing to it. The dealership will often start at an inflated figure of say £399 and gradually drop the price to make you believe you are getting a great deal.

We are different! We use a calculator that factors in the invoice value of the car, its current age, how long you want to protect this investment and the worst possible book value during this time. These 4 details give us your price and to date we have been cheaper than the dealership every time, often up to half the price!

An example of how this works:

  1. You buy a two year old car today for £18,000
  2. You want to insure your investment for three years
  3. The book value of a five year old version of the car you have purchased is currently £11,000

If your car was written off at anytime within the next 3 years you would only be given the book value to buy something new. If you took out GAP insurance you will receive a combined payment of the full £18,000 at a cost of £168. That’s less than £200 to receive up to an additional £7000 should your vehicle be written off. This can be paid up front, monthly with your car insurance or separately, whatever suits you.

Gap insurance estimate

This should be based on the invoice value of your car at the time of purchase.

The maximum amount you may need to claim - this is the difference between the market value of your car at the policy end date and the amount you paid for it.


Please fill in form for an instant estimate.

I have been with Oakland in Maghera for 13 years, never any issues, great insurance prices and 1st class staff. – Leanne Pitts

Thanks so much for sorting me out with a fantastic price for my motorbike insurance and for your advice on how to deal with my previous insurers. – Bee Ashbridge

Great value insurance with helpful pleasant staff – Claire Lagan

I have been insured with Oakland in Limavady since 2006, fantastic to deal with!. Will be insured with them for many more years to come. James, Limavady

I have been a customer of Oakland Insurance for 17 years and have received nothing but Excellent, Top Rated Co-Operation and Advice. – Alan Pritchard

The staff made getting my home insurance very easy, would definitely recommend. – Emma Murray

My claim was dealt with quickly and efficiently, they made sure I had everything I needed and it was hassle free. – Jordan Elder

I just moved my car insurance to Oakland, great price and it is good to know that their office is only round the corner. – Jamie Lorimer

I phoned for a travel insurance today and received great customer service from a very efficient young man. - Roseanne Monroe

Extremely prompt and helpful staff, would definitely recommend this company. - Adrian Ross

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