Cheap Hyundai GAP Insurance – Is Total Loss Cover Worth It?

Hyundai’s are enjoyed for their affordability, comfort, reliability, 5-year warranty and low maintenance. The brand supplies high-performance, budget-friendly SUVs for families and has recently released an affordable electric vehicle. The popular Hyundai i10 is an excellent first-time car for its reliability, low cost and compact size.

Hyundai has seen huge growth over the past few years and has gained an additional 4% of the market share in 2024. The brand has always offered reliable, trusty cars that get you from A to B. However, in recent years, they’ve prioritised style, performance and comfort, without the luxury price tag. Hopefully, you’ll not become part of the 20% who write off their cars. Just in case, explore how to protect your investment with GAP insurance and whether it’s worth it for your Hyundai.

What does Hyundai GAP insurance cover?

Guaranteed Asset Protection insurance is a type of motor cover that ensures you can afford a replacement vehicle after a total loss. We all hope never to experience a write-off, yet unfortunately, one in five drivers write off their cars (YouGov, 2022). Should the worst happen and you need a replacement vehicle after a total loss, GAP insurance tops up your motor insurance settlement.

When you write off a vehicle, your comprehensive motor insurance company pays a settlement based on the vehicle’s market value at the time of the incident. However, only 17% could afford a like-for-like replacement after a total loss with their car insurance settlement. This leaves a significant proportion of motorists unable to find a replacement motor after a theft or write-off.

GAP insurance covers the shortfall from your comprehensive motor insurer. Have peace of mind that you can get back on the road as soon as possible.

How much does Hyundai GAP insurance cost?

The average Hyundai owner spends £182.93 on GAP insurance with us. However, your policy price will depend on several factors – your chosen insurance policy length, type, your payment option and your vehicle’s details. Explore example Hyundai GAP insurance quotes based on popular Hyundai models (bought outright) covered by a Back to Invoice policy.

Types of GAP insurance for Hyundai

We offer four different types of GAP insurance for Hyundai motor vehicles and the right one for you depends on several things: how you bought the car, when you bought it, how old it is and how many miles it’s done. Other considerations such as whether you bought a new Hyundai or used model, may influence your decision.

Back to invoice GAP insurance is the most popular and common type of extra cover (also referred to as return to invoice GAP). This covers the difference between your market value settlement and the purchase price of the original vehicle. If your outstanding finance balance is higher than the invoice price, we’ll cover this instead.

Vehicle replacement GAP insurance is similar but covers the replacement cost for a like-for-like model instead of the original invoice price. It also covers vehicle finance. This type of cover is helpful if you want to ensure you can afford a replacement in case of a total loss. With the price of used cars on the rise, this is a great way to secure your desired model should you encounter unexpected emergencies. Read about GAP insurance for used cars.

Contract Hire GAP insurance is only available for lease vehicles and helps cover the shortfalls associated with writing off a lease. This coverage tops up your insurance settlement, covers outstanding rental payments, and contributes £3,000 towards your rental deposit.

Agreed Value GAP covers depreciation. It’s helpful for cars bought from private sellers or ones outside of the timeframe, age, or mileage requirements of the other GAP insurance policies. Agreed Value covers the difference in market value from when you purchased a policy to when you wrote the car off.

These policies have varying eligibility requirements which are summarised below

Need extra coverage? Explore additional insurance products such as Tyre & Alloy Wheel Insurance, Scratch & Dent Insurance and Excess Insurance.

Hyundai GAP insurance for financed cars

Vehicle finance makes a write-off trickier if you still owe a considerable amount to your finance provider. Depending on how much you owe, you could be left paying for a car you no longer own which can put a strain on your wallet.

If you paid for your Hyundai, using a finance agreement such as PCP or Hire Purchase, you can still get GAP cover. We’ll sort your remaining finance and pay you whatever is left over. This means you should be able to put a deposit down for another car and get back on the road sooner than expected.

Get GAP insurance for your financed Hyundai – Quote Me

Should you buy GAP insurance for your car?

The choice to buy GAP insurance depends on your comfort with the idea of a financial shortfall after a write-off. It may not be worth it if you can afford a replacement should an unforeseen write-off occur. However, most drivers can’t even afford a like-for-like replacement after a total loss (with their insurance settlement) and the average shortfall for A £28,000 car is £5,322 (ALA, 2022).

The average Hyundai policy costs between £150 to £220 and the average GAP insurance payout is £4,576. If you’re lucky, you’ll never need to claim but we’ll have your back if you do. We have a 99% payout rate and our customers rate us 4.9 stars on Trustpilot.

Explore why you should choose ALA GAP insurance

1. 99% payout rate

2. First-rate, UK-based customer service

3. Over 17,000 five-star reviews

4. Defaqto rates us five stars

5. Fast settlements

6. Competitive prices

7. Complete transparency

8. £250 of excess cover with all policies

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