Broker Direct has launched a motor product to plug the potential shortfall...
Broker Direct has launched a motor product to plug the potential shortfall between an insurance company's pay-out and the sum the insured actually requires.
Gap Insurance, which is provided through broker Frank Pickles, covers the policyholder against the difference between an insurance pay-out and:
· The remaining balance of a finance agreement or the original invoice price or the cost of replacing their vehicle like for like.
· The original invoice price or the cost of replacing their vehicle like for like in the event of vehicle theft, or the vehicle being written off through an accident or fire.
The cover will be available through Broker Direct's Schemeshop platform.
