Toyota Gap Insurance
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Japan's biggest company by far, Toyota, has become a global heavyweight thanks to its superior quality and affordable prices. Many drivers see Toyotas as the world's most reliable cars, and Toyota customers often remain loyal to the brand for life.
However, even with a car as dependable as a Toyota, things can go wrong. No matter how comprehensive your insurance policy is, you can still find yourself losing money in the event of a claim. This is because most policies will only reimburse you for the current market value of your car. Cars depreciate quickly, so this is often considerably less than what you originally paid. That's where GAP insurance comes in.
GAP (Guaranteed Asset Protection) insurance is designed to cover you for the difference between the current value of your car and the price you bought it for. This means you won't find yourself out of pocket if your car is stolen or written off and you have to make a claim. We are the UK's number one provider of GAP insurance, and we have a team of experts on hand to help you find the best deal on Toyota GAP insurance.
Why choose Direct Gap to protect your Toyota?
What is Toyota Gap Insurance?
Following a write-off, Toyota 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 Toyota Gap Insurance quote today.
How does Toyota Gap Insurance work?
If you buy a Toyota 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 Toyota gap insurance, you are covered for that difference between its purchase price and its value when it was declared a total loss.
Get a Toyota Gap Insurance quote today.
Toyota Gap Insurance Reviews
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Additional cover for your Toyota
It’s not only Toyota 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.
Toyota Gap Insurance Calculator
Only £ would be covered by your comprehensive car insurance leaving a gap of £.
Toyota: FAQs, Statistics & General Information
Toyota Depreciation
Like most car brands on the market, Toyotas 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 Toyota 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 Toyota
There are three common types of GAP Insurance available for most cars, including Toyota. Which is most suitable typically depends on your finance type, car ownership status and individual cover needs.
The main types of Toyota 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.