Compare Motorbike GAP Insurance

What is GAP Insurance and are all policies the same???

The first thing to get your head around is what GAP insurance actually means, surely your comprehensive bike insurance is enough?

The word GAP is an abbreviation of Guaranteed Asset Protection and its purpose is to help protect you against financial losses if your motorbike has been declared a 'total loss' (commonly referred to as being 'written off') following an insurance claim, e.g. an accident on the public roads, fire or theft in your garage, etc.

When you get paid out a cash settlement by an insurer for a motorbike that's been written-off, you might be left with a gap between what you originally paid for the bike and what it is worth now, at todays market rate, or what is known as "Market Value" in insurance jargon. This is simply because your motorbike depreciates in value over time (unless of course you bought an appreciating classic). In some cases the gap might be made worse by outstanding finance you need to settle, but don't have enough cash to pay off...

If you have the right GAP Insurance, it should ideally pay you the difference between what you originally paid, including factory options, and what the final insurance payout or settlement is at todays market value - or settle your outstanding finance. This is known as "Return to Invoice" (RTI).

Once you know what you are buying, you can then start to compare the benefits.

What to look out for...

The name 'GAP Insurance' can technically be used to describe lots of different product structures, some great and some not so great, however in our opinion true GAP Insurance should be designed with bikers in mind and cover the full potential gap between the original purchase price of your bike and the market value settlement at the time of a total loss claim, in other words:

1. Don't settle for policies that only cover a small fixed value, i.e. if your bike is worth £20k then why not have £20k of cover as standard (some make you choose the size of the gap you want to cover, e.g. £5k or £10k etc, so be careful not to underinsure)?
2. Make sure it will also settle any outstanding finance on your bike (don't get left with outstanding monthly payments and interest for a bike you no longer own or use).
3. Check if your bike needs to be in the Glass's Guide to qualify for cover (some policies only cover bikes that are listed in Glass's Guide, however some bike models or variants may not be in the guide).
4. Modifications are common on motorcycles, so ensure any changes you make to the standard OEM spec of your bike don't end up invalidating your cover (or modifications by previous owners or garages for that matter) - many policies simply use the same wording as car insurance where modifications are less common.
5. Provide some element of excess contribution (any excess you pay for your main bike claim means less money towards your new bike).

Don't worry, at BeMoto our GAP Insurance has been specifically designed for motorcylists - we haven't just taken a car policy and changed the images... Aftermarket modifications do not invalidate our policy and in fact any mods added and paid for at the time of purchasing your bike (either fitted in the factory or by the selling dealer) are covered too as long as they are part of the purchase invoice! We also have other ways of validating your bike value in addition to using Glass's Guide.

Should I buy GAP Insurance from my bike dealer?

Many bike dealerships will offer GAP Insurance, but it's not always good value and in some cases has not been carefully created to avoid the pitfalls listed above. In addition, regulations state that garages and dealerships need to wait 48 hours between selling the bike and selling you GAP Insurance, which means you have time to shop around without pressure selling - don't feel pressured to buy it in the show room (do your homework)!

Am I eligible for GAP Insurance?

Have a look at the table to see whether your circumstances mean you can qualify to buy BeMoto Motorbike GAP Insurance:

Question*	Yes you qualify	Sorry not this time
When did you purchase the bike?	Less than 180 days ago	More than 180 days ago
What is the bikes mileage?	Less than 120,000 miles	More than 120,000 miles
How old is the bike?	Less than 8 years old	More than 8 years old
Where was the bike purchased?	From a dealer / garage	From a private seller
What level of bike insurance do you have?	Comprehensive Cover	Third Party, Fire and Theft (TPFT) or Third Party Only (TPO)

* If ALL of your answers fall in the left-hand column then Return To Invoice GAP Insurance is probably the cover for you; however, if any of your answers fall in the right-hand column then we don't currently have a product that meets your needs. You might find something elsewhere though.

I still don't get it... What is the point of GAP Insurance?

Why not watch our cartoon below for a more informal and fun explanation, or read the policy documentation.

Why wait, get a quote and buy online!

Instant cover available by clicking the button below. It's quick and simple to quote with no obligation.

Motorbike GAP Insurance FAQs

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   My Comprehensive Insurer is offering me a 'new for old' replacement for the first 6 months, why do I still need Motorbike GAP Insurance in the first year?

   There may be instances where your insurer reduces your settlement to market value only within this 'new for old' period. This can be for a variety of reasons, which include things like exceeding the annual mileage limits, adverse condition of the motorbike, because the motorbike has been stolen rather than being involved in an accident or if a replacement motorbike cannot be sourced within a certain number of weeks of the incident.

   In addition, you only have 180 days from the start of bike ownership to purchase your Motorbike GAP Insurance policy. Once your 'new for old' period passes, if you choose not to have GAP insurance in the first 6 months and 180 days pass, you will be left with just your insurance pay-out for the remaining period of ownership and could be left with a shortfall 2, 3 or 4 years down the line.

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   If my motorbike is written off by an uninsured driver, will my GAP Insurance pay out?

   BeMoto Motorbike GAP insurance is conditional on you holding a Comprehensive bike insurance policy for the duration and your claim being settled by your insurer - even if they recover costs from a third party (at fault).

   If the third party is unknown, e.g. a hit and run, in most cases your insurer will settle your claim in the absence of a third party policy, then subsequently try to recover their losses from the Motor Insurance Bureau (MIB).

   As long as your insurer pays out, then this policy will also make a settlement.

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   Will GAP insurance cover the full value of my motorbike?

   BeMoto Return to Invoice (RTI) GAP Insurance is designed as a “top-up”. Your main motorbike insurer will pay a settlement of market value and the GAP insurance will pay the shortfall back to your invoice price. So whilst it doesn’t cover the full value, it does do exactly what it’s meant to in covering the shortfall or “gap”.

   Whilst you can choose the level of cover or value limit of the shortfall, your GAP policy should only be required to match the shortfall between your insurer’s settlement and either:

   • The invoice price of your motorbike
   • The outstanding finance balance
   • The outstanding rental
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   Are dealer fitted accessories included in my Motorbike GAP Insurance cover?

   Yes, dealer fitted accessories are covered by BeMoto Return to Invoice (RTI) Motorbike GAP Insurance, provided that they have been paid for at the same time and fitted at the time of purchase by the dealership, or unless included in the motorbike manufacturer’s original specification (i.e. any option fitted at the factory).

   Whilst this policy doesn't decline claims for aftermarket modifications you make once it leaves the factory / dealership (or made by previous owners and garages), these costs aren't included in claims because the policy is designed to cover the original invoice price, not modifications made after the bike has been purchased.

   So put simply, BeMoto GAP Insurance:

   • Covers factory fitted options as standard
   • Covers dealer fitted accessories (as long as they were paid for on the same invoice)
   • Does not penalise you for aftermarket alterations (although we won't pay for them either)