Fiat Gap Insurance
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Founded in 1899, Fiat has grown into one of the world's most respected manufacturers. Still Italy's biggest car company and the largest in Europe for much of the 20th century, Fiat is known for combining affordable prices and reliable performance with a hint of Italian flair.
Whatever Fiat you drive, you need to make sure that you are properly insured. Even with a fully comprehensive policy, you might find yourself out of pocket in the event of a claim. This is because cars depreciate in value as the years go by, and your insurer may only cover you for your car's current value.
Being involved in an accident is stressful at the best of times and the last thing you need is to discover that your insurance won't cover the original cost of your car. The best way to protect yourself from this potential headache is to take out Guaranteed Asset Protection (GAP) insurance.
Let’s say that you bought a new Fiat Tipo for £15,000 and that a couple of years later its value had depreciated to £11,000. If your vehicle were to be written off or stolen at that stage, the settlement from your insurers would be in line with its worth at that time, rather than what you had originally paid for it. In this example, you’d be left £4,000 out of pocket, but with Fiat gap insurance, you’d be covered for that shortfall.
Why choose Direct Gap to protect your Fiat?
What is Fiat Gap Insurance?
Fiat gap insurance covers you for any shortfall between your car's original purchase price and its value at the time of a claim. It offers that all-important peace of mind, so you can take to the road in complete confidence. It also offers protection if you are paying for your vehicle via a finance agreement, so you won’t have to worry about spending money on a car you can no longer use. Instead, any outstanding payments will be covered by your Fiat gap insurance.
For further information, check out our detailed guide to gap insurance.
Get a Fiat Gap Insurance quote today.
How does Fiat Gap Insurance work?
If you buy a Fiat 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 Fiat gap insurance, you are covered for that difference between its purchase price and its value when it was declared a total loss.
Get a Fiat Gap Insurance quote today.
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Additional cover for your Fiat
It’s not only Fiat 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.
Fiat Gap Insurance Calculator
Only £ would be covered by your comprehensive car insurance leaving a gap of £.
Fiat: FAQs, Statistics & General Information
Fiat General Information
Another member of the Stellantis group, Fiat, formed in 1899, is Italy's largest and oldest car manufacturer.
It's always been known to make fun cars, with plenty of designs venturing outside the norm. Notable models include the 500, Coupe and Panda.
Fiat Models
Fiat's core range includes three models, the 500, 600 and Panda, offering small, about-town motoring, a larger, family-friendly option and a practical hatchback, respectively.
All three of the models hold some history, with the 500 and Panda in particular bearing plenty of heritage. These days, all are available with either hybrid or fully electric power.
If you're looking for something with a bit more power, the Abarth stable offers performance variants of the 500 and 600, backed by years of high-performance expertise.
Fiat Depreciation
Despite their popularity, Fiats suffer from above-average levels of depreciation, losing around 40-55%.
Petrol variants of the 500 tend to hold their value the best, whereas electrified models and the Tipo both lose around 60%.
Try our free Car Depreciation Calculator to better understand how much value your Fiat could lose.
Fiat Gap Insurance Payout Examples
Fiat Panda
Our customer purchased their Fiat Panda for £7,302. After it was declared a total loss, their insurer paid out the current market value of £5,172, leaving a deficit of £1,781.
We paid the difference, thanks to their Fiat Gap Insurance policy.
Fiat 500
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.
After purchasing their car for £13,495, our customer was paid £11,947 after their car was written off shortly after, thanks to 11% depreciation. We paid the difference of £1,548.
Fiat Theft Statistics
Fiat cars are a popular target for car thieves, currently sitting 15th in the list of most stolen car brands in the UK, with over 700 stolen each year.
Abarth models are more prone to theft, with 1 in 116 being stolen.