Taxi Finance GAP Insurance is the traditional form of GAP insurance.

In the event of your vehicle being written off and the write-off payout from your Motor Insurance policy not being enough to settle the Finance Agreement secured on the vehicle, Taxi Finance GAP Insurance will pay the difference between your Motor Insurance Payout and the amount required to settle the Finance Agreement.

Taxi Finance GAP Insurance is available to cover a New or Used Taxi with a value of up to £40,000.00 and must be taken out no later than 90 days after you took delivery of the vehicle.

Are you eligible for Taxi Finance GAP Insurance?

How much does Taxi Finance GAP Insurance cost?

Click "Get a quote " to the right to find out.

Lets say you purchase a vehicle for £19,995.00 and in doing so pay a £1,000 deposit and finance the remaining £18,995.

Two years later, the vehicle is written off and your Motor Insurance company offer you only £10,000.00, but the settlement figure on your Finance Agreement is £12,000. This is known as being in 'negative equity' (owing more than the vehicle is worth) to the tune of £2,000.

If this happened, Taxi Finance GAP Insurance would pay the £2,000 difference between your Motor Insurance payout (£10,000) and the amount oustanding on Finance (£12,000).

Without Taxi Finance GAP Insurance you would have to find the £2,000 difference yourself, but with Taxi Finance GAP Insurance your Finance Agreement is settled meaning that you can concentrate on replacing the vehicle without the headache of having to find the extra funds to cover the negative equity.

(Subject to the overall policy claims limit that you select when you take the policy out)