Insurance Products
GAP - Guaranteed Asset Protection
Did you know that if your new motorcycle was written off as a result of an accident, fire or theft, your insurance company would only pay out the current market value of your bike. NOT what you actually paid for it!For example: A motorcycle costing £6995 was written off after 12 months, the motorcycle insurance company would only pay out the current market value, which might only be £5250.
Should you have finance on this bike, you would find that the amount paid out by the insurance company wouldn't be enough to pay off what you owe on the finance. THIS WOULD LEAVE YOU OUT OF POCKET!
This is where GAP can help you. It is designed to protect you during the term of your Black Horse Motorcycle Finance credit agreement.
Please note: that if you only have third party fire and theft insurance, you are unable to claim if your motorcycle is written off due to an accident that is your fault
What all this means -
- If your motorcycle is classified as a write off by your insurer, Black Horse GAP will pay the difference between the insured value of your motorcycle and the invoice price of your bike (not including any accessories).
- The insured value is the amount paid by the insurer or the market value of the motorcycle, as determined by Glass's guide, whichever is the greater.
- Cover is up to a maximum of £7,000.
- Cover is available for a maximum period of 3 years.
- You can include the GAP cost in your finance payments which can make it as little as £8 per month.
Ducati Glasgow is an appointed representative of ITC Compliance whom are authorised and regulated by the Financial Services Authority