'Gap cover': a cautionary tale

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Here's how gap cover normally works... Your standard motorcycle insurance policy should protect you for repairs or a direct replacement if your bike is damaged or stolen.

However, if your bike's value is less than the amount you owe on any loan you took to buy it, that difference in value won't be covered.

Gap insurance will cover you for the difference between your bike¹s value and the amount of your loan.

However, if you're buying a bike partly with cash and partly on finance, make sure you read the terms of your gap cover insurance

One reader we know of crashed his bike thinking he had cover for the £2700 he put down as cash.

However, upon reading the small print of the gap cover, realised that it only covered the outstanding amount on finance. The net result? He can whistle for the £2700.

EM10 RS10 MF10

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Marc Abbott

By Marc Abbott