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Will your Shortfall Gap Insurance Policy cover all named drivers?

Monday 18th February 2013 11:54:41

How does Shortfall Gap Insurance work?

 

When it comes to Shortfall gap insurance or any insurance for that matter it is important to understand how your policy works. Who is and is not covered and why. When it comes to a car insurance policy normally for anyone other than you to be covered they must be a named driver.

This is because it all stems back to the terms which says "providing that your own insurance company will give indemnity for the claim". What this really means is that no matter how your car is written off not matter who is driving as long as your own insurance company are happy to settle the claim then your shortfall gap insurance policy will follow suit.

 

For your own insurance to be in a position to be happy to settle then who ever was driving the your car must be covered on your own motor insurance. This means that your shortfall gap insurance policy will not only cover all named drivers but it will also cover learner drivers, any provisional driving license holders. Again this is providing that your own motor insurance covers them as well. Don't forget that the whole premise of a shortfall gap insurance policy is that it is an amount on top of your own insurance companies settlement. This means that if for what ever reason if they are not willing to settle then no matter what the circumstances your Shortfall Gap Insurance will not be able to.

 

So Shortfall Policies do cover all named drivers.

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