GAP insurance is an optional addition to Casco insurance policies with coverage for theft and total damage. Typically, cars up to 10 years old are eligible for coverage; however, some used cars may be insurable if they meet the insurer's requirements. In these cases, the insurance amount is determined based on the car's actual value at the time of purchase.
Compensation under GAP insurance covers the difference between the Casco insurance compensation and the car's invoiced value at the time of purchase, up to the policy limit. GAP insurance covers total damage resulting from the following risks:
- Theft of the car;
- Road traffic accident;
- Fire;
- Natural disaster.