GAP Insurance

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GAP Billed Insurance (for new vehicles) and GAP CASCO (for used vehicles) are the insurances that protect you against lowering the value of the vehicle. The value of any vehicle starts to decrease from the moment of starting use, especially for cars up to 5 years old.

What is GAP insurance?

The role of GAP insurance is to compensate the difference between the invoicing value of the newly purchased car (GAP invoiced) or the value of the CASCO policy in case of a used car (GAP CASCO) and the value of the vehicle at the moment of total damage.

Choose the gap insurance mode:

What cars can you insure?

Cars with a total weight of 3.5 tons, authorized for traffic on public roads according to Romanian traffic regulations:
  • Purchased on the territory of Romania regulated by the insurance contract, direct dealer or car dealer (cash, credit or leasing);
  • Whose age does not exceed 5 years (60 months) and whose invoice value does not exceed RON 285,000 (including VAT);
  • Registered in the EUROTAX GLASS’S catalog;
  • Covered by the basic insurance agreement (helmet) of the vehicle, which must be permanently maintained during the GAP policy.
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What damages does GAP insurance cover?

  • ACCIDENT
  • FIRE
  • THEFT
  • OTHER EVENTS

What damages does GAP insurance cover?

  • ACCIDENT
  • FIRE
  • THEFT
  • OTHER EVENTS

Vehicles excluded from GAP insurance:

  • mentioned in the list of vehicles excluded from the insurance;
  • used in rallies and car racing, competitions, test drives, courier services, ambulances, used in police, army, fire and border services;
  • rented for commercial purposes and used as a taxi, or rental and reward;
  • used for driving school;
  • with electric motors or rotary motor;
  • registered as motorcycles, mopeds, scooters, caravans, caravans or trailers;
  • used for transporting people with disabilities;
  • which have been modified otherwise than in accordance with the manufacturer’s specifications;
  • vehicles that were declared total damage and subsequently were repaired and brought to the state of use.
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Frequently asked questions:

Yes. The insured means the natural person, legal person or incorporated bodies with legal capacity registered in the territory of the country in which the agreement was concluded.

Yes. The insurance, regardless of the Insured’s decision, will be concluded in favor of the Lessee or Lessor.

Frequently asked questions:

Yes. The insured means the natural person, legal person or incorporated bodies with legal capacity registered in the territory of the country in which the agreement was concluded.

Yes. The insurance, regardless of the Insured’s decision, will be concluded in favor of the Lessee or Lessor.

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Benefits

  • Financial security
  • Possibility to pay any financial arrears.
  • Possibility to purchase a new vehicle without loss of value due to depreciation.
  • Maintains the constant value of the car regardless of the time.
  • Fast and professional reaction in solving the claims.
  • Avoidance of disputes regarding the amount of indemnities paid from the CASCO insurer.
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General informations about WAGAS and Lloyds

Lloyd‘s is the oldest insurance market in the world, founded in 1688 and which has paid all valid claims against it since it began trading 300 years ago.
WAGAS plc is the holder of Lloyd’s coverholder certificate number 109423YYU, active in the insurance market for fifteen years with full authority delegated by Lloyd’s Insurance Company to accept risks, manage and settle claims on its behalf. WAGAS is supervised by the Polish Financial Services Authority KNF and in Russia by the Central Bank of the Russian Federation.

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