Tesla Model S Gap Insurance
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One of the forerunners in the EV market, pairing space and luxury with Tesla's pioneering cutting-edge technology, the Model S is one of the most sought-after electric cars available. Unfortunately, the Model S, like most Teslas, can experience significant depreciation, meaning you'll lose around 60% of its value within three years.
Write your Tesla off, and you could face a financial shortfall, as your insurer will pay out the current market value, not the amount you paid or still owe; you'll be responsible for the rest.
Specialist Tesla Model S Gap Insurance from Direct Gap protects against that financial shortfall if your car is declared a write-off or total loss. We'll pay the difference between your insurance settlement and the outstanding amount, so you're not left out of pocket.
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 Tesla?
What is Tesla Gap Insurance?
Following a write-off, Tesla gap insurance covers any difference between your motor insurance settlement figure and the amount you paid for your vehicle, or any outstanding finance, depending on the policy you choose. Typically, the 'current market value' (the amount your insurer pays) is much lower than the vehicle's purchase or finance price, due to depreciation.
For further information, check out our detailed guide to gap insurance.
Get a Tesla Gap Insurance quote today.
How does Tesla Gap Insurance work?
Used Tesla Model S's in the UK currently retail between £20,000-£40,000. With typical depreciation levels running at around 50% within three years of ownership, that means you could lose up to £20,000 on the value of your car. If yours is written off, you'll have to pay that difference, whether that's to cover outstanding finance or replace your car.
With a car being declared a total loss every 90 seconds in the UK, it’s no surprise that thousands of drivers are choosing to protect themselves with Direct Gap.
With our tailored Tesla Model S Gap Insurance, you can cover the difference between your insurer's final settlement figure (which is usually the current market value of your car) and the amount you still owe. With a commitment to settle within 10 days, cover for all named drivers and no claim limits up to £50K, it makes sense to protect yourself with Direct Gap.
Get a Tesla Gap Insurance quote today.
Tesla Gap Insurance Reviews
We’re rated 4.9 out of 5 across Trustpilot, Feefo and Google, based on more than 14,000 reviews.
Additional cover for your Tesla Model S
It’s not only Tesla Model S 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.
Tesla Gap Insurance Calculator
Only £ would be covered by your comprehensive car insurance leaving a gap of £.
Tesla: FAQs, Statistics & General Information
Tesla Depreciation
Like most car brands on the market, Teslas 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 Tesla 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 Tesla
There are three common types of GAP Insurance available for most cars, including Tesla. Which is most suitable typically depends on your finance type, car ownership status and individual cover needs.
The main types of Tesla 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.