GAP (Guaranteed Asset Protection) insurance covers the difference between your car’s current market value and the remaining loan amount in case of total loss due to theft or an accident. GAP insurance, or Guaranteed Auto Protection, is a valuable add-on to consider in the UAE, especially when financing a vehicle. Here's what it covers:

Scenario : If your vehicle is totalled or stolen, GAP insurance covers the difference between the actual cash value of your vehicle (determined by the insurance company) and the outstanding balance on your auto loan.

Importance : In the UAE, vehicle depreciation can be significant. If you owe more on your car loan than it's worth, GAP insurance can help you avoid significant financial losses.

Example: If your vehicle is totalled, your standard car insurance may only cover the actual cash value. If you still owe more on the loan, you would be responsible for paying the remaining balance. GAP insurance bridges this gap, protecting you from potential financial hardship.

Click here to get a quote and connect with our expert car insurance brokers and find the perfect plan for your needs.