Take a Closer Look
September is fast approaching, do you have a good motor gap insurance product to offer your clients?

23rd July 2020

Dare we say it…? September will soon be here. As autumn commences, the new registration plates come out and car sales are among their highest levels of the year. With car sales booming, vehicle thefts and write -offs on the increase, having the right car insurance is paramount for drivers. This is when Sparta’s Motor Gap Insurance makes sense.

Sparta provides quality insurance products designed to help brokers increase customers’ trust. One such product is Gap insurance which is designed to pay the difference between the amount paid for the insured vehicle and the amount a motor insurer will pay if they have declared the vehicle a total loss.

RTI/Finance & Agreed Value Gap PLUS Hire Vehicle

Sparta’s RTI/Finance & Agreed Value Gap PLUS Hire Vehicle product, which, in the event that an insured vehicle is stolen and unrecovered, or unrepairable after an insured incident, will pay the difference between the amount paid for the insured vehicle and the amount the motor insurer will pay if the car has been deemed a complete write-off. This variant of the Sparta product provides a replacement hire car or van for up to 28 days whilst the insured awaits settlement from their motor and GAP insurers.

Cover is available for cars, bikes, vans up to 35cwt and motorhomes up to 180 days after purchase.

CV Finance GAP 3.5 - 44T

In the event that an insured vehicle is stolen and unrecovered, or involved in an insured incident and deemed uneconomical to repair, Sparta’s CV Finance GAP 3.5  - 44T is designed to pay the difference between the Insured Value (the amount that received under the Motor Insurance Policy in respect of the vehicle being a total loss) and the amount of the early settlement figure.

Cover is available for vehicles up to £100,000.

RTI Taxi Gap

Designed specifically for taxi drivers, RTI Taxi Gap will pay the difference between the amount paid for the insurance vehicle (usually known as the ‘net invoice selling price’) and the amount your motor insurer will pay if they have declared the vehicle a total loss (known as the ‘market value’).

For further information about Sparta, speak to your Blink IS Business Development Manager or click here.

Full underwriting terms and conditions apply, please ensure that all of the contractual documentation is read and understood prior to use. This facility is marketed and distributed by Blink Intermediary Solutions. This facility is provided by Sparta Insurance Services Group Limited an appointed representative of Novitas Underwriting Agency Limited which is authorised and regulated by the Financial Conduct Authority (FCA) Register number 307931 and underwritten by various Insurers. Access to this facility is subject to approval by the product provider only. Blink Intermediary Solutions is not part of the approval process and is not the product manufacturer. Some products/facilities are not available in all territories. The intended recipients of this content are UK FCA regulated insurance brokers. Full details of FCA authorisations can be found at www.fca.org.uk. This information is correct at the time of production, but may be subject to change.

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