MGA launches motorhome Gap product with Financial and Legal

MGA Alps has launched a Guaranteed Asset Protection (Gap) insurance product for motorhomes, underwritten by Financial and Legal Insurance.

The motorhome Gap product is designed to deliver enhanced financial protection for motorhome owners in the event of a total loss event. For example, an accident, theft, fire or flood.

Gap is an add-on motor insurance that covers the shortfall between the insurer settlement and the original price paid for the vehicle or outstanding finance balance.

The product covers motorhomes valued up to a maximum of £75,000, up to 10 years old and a maximum weight of 3.5 tonnes.

Brokers can sell the product up to 180 days after the vehicle purchase. The policy also offers a pro-rata cancellation policy refund so that customers who cancel can claim a refund on premiums if they have not claimed on the policy. 

Michelle O’Reilly, managing director at Alps, said: ”This is the second Gap product we’ve launched with Financial and Legal Insurance. 

”Like us, they’re committed to improving policyholder outcomes and delivering superior customer value. We look forward to extending our relationship further in the future.”

‘Valuable product’

The launch comes after Alps added Financial and Legal to its panel for Gap insurance in June 2025.

O’Reilly said the new product comes as, according to market reports, motorhomes lose an average of 20% of their value in their first year alone. 

“It’s therefore important for brokers to fill the gap left by dealerships and deliver the protection owners need to enjoy their valuable investment,” she said.

Ian Kember, business development manager at Financial and Legal Insurance, added: “We are once again delighted to be supporting Alps, via our distribution partner AMS Insurance Services, who also manage the claims for this product. 

”Together we are among the first to offer this innovative and valuable product to market. We urge brokers to start selling this product again – which offers valuable protection that their clients have been missing. 

“It cancels out the effects of depreciation and provides comprehensive financial and lifestyle protection.”