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GAP Insurance

So what is GAP Insurance?

Simply put, a GAP Insurance insurance policy from PSA Insurance Solutions helps put you back in the same financial position you were in before the loss occurred. It provides you with an additional level of financial protection, over and above the indemnity provided by your Motor Insurer.

In case of accident or total loss, your Motor insurer will only pay you what the car is worth now, not what it would cost you to replace it. So the amount you get via your Motor Insurer could be substantially less than what you would pay to have it replaced. Without a GAP Insurance policy, you would have to pay a substantial part out of your own pocket.

But if my car is stolen or gets written off, doesn’t my motor insurer pay it all off?

Unfortunately, this tends to be a common misconception. Most car insurance policies only pay out the current market value of your car at the moment of loss, or only pay the invoice price for a limited period. This could be significantly less than the actual value of a replacement vehicle.

How do I know GAP Insurance makes sense for me?

Here are some of the most common circumstances when a GAP Insurance policy is a wise choice.

You are purchasing a new or used vehicle.
You would like peace of mind in the event that your vehicle is written off.
You would like to protect the capital that you have invested in your vehicle.
You do not have significant cash savings that would allow you to buy a similar vehicle in the event that your vehicle is stolen or written off.

Why should I buy my GAP Insurance cover from PSA?

At PSA Insurance Solutions, we understand how important it is to have the peace of mind that comes from knowing that your investments are financially secure in case of the unpredictable.

There are no hidden fees and charges. Plus, with a simple straightforward premium, you can have this peace of mind as from now. Also, with our GAP Insurance policy, the market value of your vehicle does not depreciate during the period of the policy.

And if that wasn’t enough, you can choose to split your premium over 12 manageable monthly payments; at no additional fee!

What is the maximum level of indemnity cover I can have?

The indemnity cover is 30% of the vehicle’s market value, capped at 22,500€.

What conditions do I have to meet to take advantage of PSA’s GAP Insurance cover?

PSA’s GAP Insurance is available to private vehicles, both new and used. As long as your car is not more than 8 years old and its market value does not exceed 75,000€, we extend our promise of protection from financial loss and superior service to any brand.

Your vehicle must also be insured for theft, fire and own damages.

I bought a used car. Can I still protect my investment with PSA’s GAP Insurance?

Yes. PSA’s GAP Insurance cover is available for both new and used (second-hand) vehicles. In addition, you can also protect yourself from future financial losses whether you bought your car from a dealer, another private individual or on a leasing contract. In fact, your car can be up to 8 years old at subscription and still be eligible.

When can you benefit from the GAP Insurance policy?

PSA’s GAP Insurance comes into effect whenever the vehicle is written-off following fire, theft or accident. The expert mandated by your motor insurer will need to declare the vehicle a total loss since the costs of repair would be too high in comparison to its market value.

Is there a maximum value of vehicle that can be covered?

Yes, the GAP Insurance policy can only be taken out on vehicles with a maximum value of 75,000€.

Can I have more information about the policy itself?

You certainly can.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

Can you give me an example of how GAP Insurance works in real life?

Michael bought his first family car 3 years ago for a purchase price of €30,000 when his first child was born and inevitably needed more space. Due to the natural depreciation process, today his vehicle is insured by his motor insurer for a sum insured of €20,000. Michael is concerned and decides to further protect his financial interest by buying a GAP Insurance insurance policy; also on the market value of €20,000. But how will this protect him exactly?

Let us say that Michael has a very bad accident tomorrow. Don’t worry Michael and his family will be safe, he bought a PSA vehicle after all! Unfortunately his car may not make it. If declared irreparable, the motor insurance company will write it off, and after further depreciation deductions and the excess payment, the motor insurance policy may end up reimbursing Michael with €17,000. This is definitely not enough to buy another family car which Michael will definitely need, especially with another child on the way.

GAP Insurance guarantees Michael, 30% of the value that it was insured for i.e. €20,000, irrespective of the amount paid by the motor insurer. Michael gets an indemnity of 6000€ with GAP Insurance. This means that Michael is now in the following financial position:

Motor Insurance Payout	€17,000
GAP Insurance Payout	€6,000
Total Amount	€23,000

Michael is now in a better position to buy another vehicle that suits his family needs. Michael is happy.

Tyre Insurance

So what is Tyre Insurance?

Tyre Insurance is an insurance policy that allows you to protect your tyres against accidental damages like punctures, cuts, impacts, cracks, perforations, or bulges (or hernias).

If you bought your tyres in the last 30 days we highly recommend that you consider this insurance product.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

How do I know a Tyre Insurance makes sense for me?

Here are some of the most common circumstances when a Tyre Insurance policy is a wise choice:

If you just bought new tyres;
If you are not ready to pay the costs associated with tyre repair or replacement;
And if you want to cover your alloy wheels in addition to your tyres.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

I suddenly hit the pavement and damaged my new tyre, does PSA Insurance pay for the cost resulting from that event?

Of course! We cover you for any accidental damage, that is to say any total or partial damage to the insured Tyre/s, caused by external means and which inhibits their use. Theft and Vandalism are also included.

Please refer to the General Terms and Conditions Handbook for the list of exclusions.

In the event of an Accidental Damage, the process is very easy: you can report your claim via the online claim notification form accessible and provide the required the documents.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

Someone slashed the tyres of my car in the middle of the night, am I insured?

Yes, don’t worry! We cover you for any accidental damage including theft and vandalism. Please refer to the General Terms and Conditions Handbook for the list of exclusions.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

Why should I buy my Tyre cover from PSA?

At PSA Insurance Solutions, we strive ourselves to support our clients in preserving their safety on the road and permit them to save money.

This is why, with our Tyre Insurance you can protect your tyres in only few clicks.

Plus, with a simple, small premium, you can have this peace of mind as from now.

And if that wasn’t enough, we give you 3 options to choose from, to best suit your needs.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

What is the maximum level of indemnity cover I can have?

The indemnity cover depends on the level you choose and the costs of your claim:

Cover	Option 1	Option 2	Option 3
Replacement	Up to 150€ per tyre	Up to 150€ per tyre	Up to 150€ per tyre
Repairs	-	Up to 30€ per tyre	Up to 30€ per tyre
Alignment, Balancing & Mounting	-	-	Up to 250€ per tyre
Alloy Wheels	-	-	Up to 150€ per tyre
Total Premium	3,50€ per tyre	5,50€ per tyre	18,99€ per tyre

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

What conditions do I have to meet to take advantage of PSA’s Tyre Insurance cover?

You have bought new Tyres within the last 30 (thirty) days of purchasing this Policy;
You are a resident in Germany;
If the Tyre/s will be or are fitted on a vehicle for private use.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

Which tyre brand is covered by PSA’s Tyre Insurance?

We cover any tyres fitted to your vehicle as per the manufacturer’s specification any brand, that you have bought for private use and as new, within the last thirty (30) days of purchasing this insurance policy.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

When can you benefit from the Tyre Insurance policy?

PSA’s Tyre Insurance comes into effect upon subscription and cover starts from the date you select in the subscription process.

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

Can you give me an example of how Tyre Insurance works in real life?

Hans bought the new C5 air cross from his Citroen local dealership two weeks ago. He decided to go to the grocery store in order to prepare a good meal for tonight for his birthday’s wife.

Unfortunately, when he was parking the car he didn’t see the border of the parking lot between the car places and damaged the front right tyre of his C5. It has impacted the tyre in totality, the balancing and equilibrium, and Hans was not able to drive anymore. Even the alloy wheel has been badly scratched.

Thankfully Hans had subscribed to the full Gold protection offered by PSA’s Tyre Insurance when he bought his new car. So when the accidental event occurred, he immediately took some pictures of the damage and went online to follow the rest of the process!

After submission and acceptation of his claim, he received the indemnity from PSA Insurance and was reimbursed within 30 days of the claim submission date:

Tyre replacement:	€150,00
Alignment, balancing & mounting:	€250,00
Alloy wheels:	€150,00
Financial Loss for Hans:	€0 thanks to Tyre Insurance!

Click here to see and download the policy's Insurance General Terms and Conditions, the Information document on Insurance distribution activity and the Insurance Product Information Document.

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