BYD Gap Insurance
Buy 5* Rated BYD Gap Insurance With A 30 Day Money Back Guarantee
One of the game-changers in the UK car market, BYD are now a proven manufacturer, with reliable EVs at a highly competitive price point. With a great range from smaller hatchbacks to premium SUVs, there's truly a BYD for any driver. Unfortunately, like all cars, they'll still lose value thanks to depreciation.
That depreciation could cause issues. If yours is written off, your insurer will pay the current market value, not the amount you paid or still owe, meaning you could be facing a serious financial shortfall, often thousands of pounds.
With specialist BYD Gap Insurance from Direct Gap you're protected. We'll pay the difference between your insurer's final settlement figure and the amount outstanding, so you don't have to.
Get a 5* Feefo-rated Gap Insurance quote online today and join thousands of happy customers driving with total peace of mind.
Why choose Direct Gap to protect your BYD?
Why Do I Need To Protect My BYD With Gap Insurance?
Typically, cars, including BYDs, will lose around 50% of their value in just three years. That depreciation means that if your car is written off, you could receive a payout which is significantly lower than the amount you paid or still owe on finance (something known as 'negative equity'). That difference is yours to pay, if you want to settle finance, or replace your car 'like-for-like'.
With a car being declared a total loss every 90 seconds in the UK, it’s no surprise that a growing number of drivers are choosing to protect themselves with Direct Gap.
Tailored BYD Gap Insurance from Direct Gap pays the difference between your insurance payout and the amount you still owe. We're committed to settling your claim within 10 days, covering all named drivers and no claim limits on vehicles up to £50K. Is it time you protected your BYD and yourself?
For further information, check out our detailed guide to gap insurance.
Get a BYD Gap Insurance quote today.
How does BYD Gap Insurance work?
If you buy a BYD for £40,000, it will depreciate over the time that you own it. Let’s say that a few years later, your car is stolen or written off – but by this point, its value has dropped to £25,000.
Your motor insurer will pay out in line with that value, which means you’ve lost out by £15,000. With BYD gap insurance, you are covered for that difference between its purchase price and its value when it was declared a total loss.
Get a BYD Gap Insurance quote today.
BYD Gap Insurance Reviews
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Additional cover for your BYD
It’s not only BYD Gap Insurance that we offer. We can also provide protection for specific elements of your pride and joy, such as the bodywork, tyres and wheels.
BYD Gap Insurance Calculator
Only £ would be covered by your comprehensive car insurance leaving a gap of £.
BYD: FAQs, Statistics & General Information
BYD Depreciation
Like most car brands on the market, BYDs will lose value over time, typically depreciating between 15-35% in year one, to 50% within three years of ownership (usually, regardless of whether you buy new or used).
Try our free Car Depreciation Calculator for more information on model-specific depreciation and to estimate the value your BYD could lose.
Gap Insurance Payout Examples
BMW 320 D
Our BMW gap insurance policy paid out £4,558 to a customer who initially bought their BMW 320D for £20,000. Following a total loss, their motor insurer offered a settlement figure of just £15,442; we covered the difference.
Ford Kuga
Our Ford gap insurance policy paid out £14,565 to a customer who initially bought their Ford Kuga for £36,168. Following a total loss, their motor insurer offered a settlement figure of just £22,053; we covered the difference.
Dacia Sandero Stepaway
Our customer wrote their Dacia Sandero Stepaway off and received a final settlement from their insurer of £15,390. This was much lower than their original purchase price of £18,644, following a 17% depreciation.
We paid the difference of £3,565 thanks to their Gap Insurance policy.
Audi Q2
Our customer bought their Audi Q2 for £30,245, which depreciated at a rate of 13%. When it was written off, their motor insurer paid a final settlement of £26,297.
With an Audi Gap Insurance policy, we covered the difference of £3,823.
What Types Of Gap Insurance Are Suitable For BYD
There are three common types of GAP Insurance available for most cars, including BYD. Which is most suitable typically depends on your finance type, car ownership status and individual cover needs.
The main types of BYD Gap Insurance we provide are:
- Lease & Contract Hire Gap Insurance: Lease & Contract Hire Gap Insurance pays the difference between your motor insurance settlement figure and the amount outstanding on your lease finance balance. This policy is suitable for lease or 'PCH' cars only.
- Return To Invoice Gap Insurance: Return To Invoice, or 'RTI' as it's also known, pays the difference between your motor insurance settlement figure and the original invoice price of your vehicle.
- Vehicle Replacement: Vehicle Replacement Insurance, or 'VRI' covers the difference between your motor insurance settlement and the cost of replacing your vehicle.