Guaranteed Asset Protection

When purchasing a new or used vehicle, it’s wise to protect yourself against the unfortunate event of your vehicle being written-off as a total loss and the financial position you can be placed in due to the amount you receive from your comprehensive motor vehicle insurer falling short of your replacement vehicle requirements.

This shortfall can occur in two situations:

  • If you have financed your vehicle: The difference between the amount received for your insurance pay-out and the balance outstanding on your credit contract, or
  • If you paid cash for your vehicle: The difference between the amount received for your insurance pay-out and the original purchase price you paid for your vehicle.

Provident Gapcover has been designed with exactly that in mind – to help pay the difference (the gap) between what your comprehensive vehicle insurance policy pays out and the balance you owe under your finance contract, or the original purchase price you paid for the vehicle. 

We may also pay additional benefits, which are designed to help reimburse you for associated incidental costs, if you select this extra “Special Benefits” cover for your policy.

Provident Gapcover protects your investment in your vehicle so you can replace it, if you need it, when you need it ….. providing control, certainty, and choices for your future.

For full details of the Provident Gapcover policy please refer to the Policy Booklet wording.

Provident is a member of the Financial Services Federation and was an integral member in the development of the Responsible Credit-Related Insurance Code.

Guaranteed Asset
Protection Insurance
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Frequently asked questions

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