Latest news with #GAP
Scottish Sun
3 days ago
- Automotive
- Scottish Sun
Little-known car insurance could save you £5,000 if your car is written off in accident – everything you need to know
Various factors have driven up the cash value of these insurance claims ALL COVERED Little-known car insurance could save you £5,000 if your car is written off in accident – everything you need to know Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A HIDDEN car insurance trick could save you £5,000 if your vehicle is written off. Motorists claiming on this insurance stand to gain big - as average payouts have tripled in the past four years. Sign up for Scottish Sun newsletter Sign up 2 GAP insurance payouts have nearly tripled in four years Credit: Alamy The average payout for Guaranteed Asset Protection - or GAP insurance - has soared from around £1,600 in 2021 to nearly £5,000 this year. This little-known insurance hack is rarely used - with a Financial Conduct Authority probe revealing that the average driver with GAP insurance makes a claim just once every 300 years. This product is mainly used to cover a potential shortfall between a car's value and the amount owed on finance if the vehicle is written off or stolen. Drivers who need to make a claim are likely to receive larger payouts, as those who've financed their cars currently face several financial risks. GAP insurance is used not only by those with financed cars but also by owners who bought cars outright—they can claim if the insurer's payout is less than what they paid for the car. Several factors have contributed to the soaring cash value of GAP claims. These include the fast depreciation of certain vehicles - especially EVs - and a rise in insurance write-offs caused by soaring repair costs and parts shortages. Rising motor thefts, targeting models like Range Rovers, have also driven up the cash value of GAP claims. Experts say GAP insurance has shifted from a 'nice-to-have' policy to a 'vital financial safeguard' for today's car buyers. The increase in the value of payouts "underscores the growing financial risk faced by car owners" in 2025, according to MotorEasy, a leading car ownership platform. Ford is forced to immediately shut down factories and halt car production as CEO admits 'day to day' struggle for brand However, this type of insurance has been controversial in the past, as it's often sold by dealers alongside cars - sometimes with limited explanation or inflated prices. It's usually cheaper to buy GAP insurance through brokers. The increase in the value of payouts "underscores the growing financial risk faced by car owners" in 2025, according to MotorEasy, the leading car ownership platform. MotorEasy says the rise in average claim amounts is linked to the lasting effects of Covid-19. However, since so few motorists were using GAP policies, the Financial Conduct Authority launched an investigation in 2023 over concerns about their value. This led to many policies being withdrawn, with about 80 percent of products pulled from the market. Experts now advise car buyers to compare policies carefully and consider brokers rather than accepting dealer offers. Meanwhile, insurance experts have shared eight tips to help drivers slash the cost of covering their cars. Tom Banks, a coverage expert for told SunMotors that one effective way is to choose a higher excess. This means you agree to pay more out of pocket if you make a claim, which lowers the amount the insurer has to cover. Tom explained: "You want to make sure that you will be able to afford to pay it should you need to make a claim. "But it's worth bearing in mind that choosing a higher voluntary excess will usually bring your car insurance premium down." What is car insurance? Consumer reporter Sam Walker talks you through what car insurance is and what it covers you for... Car insurance pays out if your vehicle is stolen, damaged, catches on fire or is involved in an accident. As a minimum, it protects you against any damage you case to other road users, the public or their property - these are called third parties. You only need to claim on your car insurance when an accident is your fault. If another motorist is to blame, their insurance should pay out instead. Car insurance, unlike home insurance, is a legal requirement and if you don't have it you can be fined up to £1,000. You can also have your vehicle seized and destroyed. However, you don't need to insure your car if it is classed as "off-road", or holds a statutory off road notification (SORN). The vehicle has to be kept on private land and not a public highway though.
The Irish Sun
3 days ago
- Automotive
- The Irish Sun
Little-known car insurance could save you £5,000 if your car is written off in accident – everything you need to know
A HIDDEN car insurance trick could save you £5,000 if your vehicle is written off. Motorists claiming on this insurance stand to gain big - as average payouts have tripled in the past four years. 2 GAP insurance payouts have nearly tripled in four years Credit: Alamy The average payout for Guaranteed Asset Protection - or GAP insurance - has soared from around £1,600 in 2021 to nearly £5,000 this year. This little-known insurance hack is rarely used - with a Financial Conduct Authority probe revealing that the average driver with GAP insurance makes a claim just once every 300 years. This product is mainly used to cover a potential shortfall between a car's value and the amount owed on finance if the vehicle is written off or stolen. Drivers who need to make a claim are likely to receive larger payouts, as those who've financed their cars currently face several financial risks. Read more on motors GAP insurance is used not only by those with financed cars but also by owners who bought cars outright—they can claim if the insurer's payout is less than what they paid for the car. Several factors have contributed to the soaring cash value of GAP claims. These include the fast depreciation of certain vehicles - especially EVs - and a rise in insurance write-offs caused by soaring repair costs and parts shortages. Rising motor thefts, targeting models like Range Rovers, have also driven up the cash value of GAP claims. Most read in Motors Experts say GAP insurance has shifted from a 'nice-to-have' policy to a 'vital financial safeguard' for today's car buyers. The increase in the value of payouts "underscores the growing financial risk faced by car owners" in 2025, according to MotorEasy, a leading car ownership platform. Ford is forced to immediately shut down factories and halt car production as CEO admits 'day to day' struggle for brand However, this type of insurance has been controversial in the past, as it's often sold by dealers alongside cars - sometimes with limited explanation or inflated prices. It's usually cheaper to buy GAP insurance through brokers. The increase in the value of payouts "underscores the growing financial risk faced by car owners" in 2025, according to MotorEasy, the leading car ownership platform. MotorEasy says the rise in average claim amounts is linked to the lasting effects of Covid-19. However, since so few motorists were using GAP policies, the Financial Conduct Authority launched an investigation in 2023 over concerns about their value. This led to many policies being withdrawn, with about 80 percent of products pulled from the market. Experts now advise car buyers to compare policies carefully and consider brokers rather than accepting dealer offers. Meanwhile, insurance experts have shared eight tips to help drivers Tom Banks, a coverage expert for This means you agree to pay more out of pocket if you make a claim, which lowers the amount the insurer has to cover. Tom explained: "You want to make sure that you will be able to afford to pay it should you need to make a claim. "But it's worth bearing in mind that choosing a higher voluntary excess will usually bring your car insurance premium down." What is car insurance? Consumer reporter Sam Walker talks you through what car insurance is and what it covers you for... Car insurance pays out if your vehicle is stolen, damaged, catches on fire or is involved in an accident. As a minimum, it protects you against any damage you case to other road users, the public or their property - these are called third parties. You only need to claim on your car insurance when an accident is your fault. If another motorist is to blame, their insurance should pay out instead. Car insurance, unlike home insurance, is a legal requirement and if you don't have it you can be fined up to £1,000. You can also have your vehicle seized and destroyed. However, you don't need to insure your car if it is classed as "off-road", or holds a statutory off road notification (SORN). The vehicle has to be kept on private land and not a public highway though. 2 The value of GAP has soared due to the depreciation of EVs and rising thefts Credit: Alamy Live News
Yahoo
13-06-2025
- Business
- Yahoo
The Gap, Inc. (GAP): 'I'm Really Not Worried,' Says Jim Cramer
We recently published a list of . In this article, we are going to take a look at where The Gap, Inc. (NYSE:GAP) stands against other stocks that Jim Cramer discussed. The Gap, Inc. (NYSE:GAP) is an iconic American apparel company. The firm's shares are down by 7% year-to-date primarily due to a massive drop in May end. The Gap, Inc. (NYSE:GAP)'s stock sank by a whopping 20% after the firm revealed that tariffs would squeeze its bottom line in 2025. The shares were hit particularly hard since the firm is currently undertaking a turnaround strategy through which it aims to lower costs by streamlining operations and consolidating its brands. Cramer has been appreciative of The Gap, Inc. (NYSE:GAP)'s CEO Richard Dickson in his earlier comments. Here's what he said this time around: "I'm really not worried about GAP as analyst, one after another wakes up to the idea that Richard Dickson has done a remarkable job." Ahead of The Gap, Inc. (NYSE:GAP)'s tariff warning, Cramer was optimistic about the stock. He had given viewers his "blessing" to pile into the stock: 'Hey, speaking of retail, ever since Richard Dickson became CEO of the Gap, almost two years ago, he's been busy reinventing the place. We've had him a number of times. It is working people, and since the last quarter, analysts have been falling all over themselves about this story. And now here's one that if it comes down ahead of the quarter, you have my permission, no, my blessing to pull the trigger and do some buying. Fall into the Gap.' Overall, GAP ranks 10th on our list of stocks that Jim Cramer discussed. While we acknowledge the potential of GAP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at . Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
The Gap, Inc. (GAP): 'I'm Really Not Worried,' Says Jim Cramer
We recently published a list of . In this article, we are going to take a look at where The Gap, Inc. (NYSE:GAP) stands against other stocks that Jim Cramer discussed. The Gap, Inc. (NYSE:GAP) is an iconic American apparel company. The firm's shares are down by 7% year-to-date primarily due to a massive drop in May end. The Gap, Inc. (NYSE:GAP)'s stock sank by a whopping 20% after the firm revealed that tariffs would squeeze its bottom line in 2025. The shares were hit particularly hard since the firm is currently undertaking a turnaround strategy through which it aims to lower costs by streamlining operations and consolidating its brands. Cramer has been appreciative of The Gap, Inc. (NYSE:GAP)'s CEO Richard Dickson in his earlier comments. Here's what he said this time around: "I'm really not worried about GAP as analyst, one after another wakes up to the idea that Richard Dickson has done a remarkable job." Ahead of The Gap, Inc. (NYSE:GAP)'s tariff warning, Cramer was optimistic about the stock. He had given viewers his "blessing" to pile into the stock: 'Hey, speaking of retail, ever since Richard Dickson became CEO of the Gap, almost two years ago, he's been busy reinventing the place. We've had him a number of times. It is working people, and since the last quarter, analysts have been falling all over themselves about this story. And now here's one that if it comes down ahead of the quarter, you have my permission, no, my blessing to pull the trigger and do some buying. Fall into the Gap.' Overall, GAP ranks 10th on our list of stocks that Jim Cramer discussed. While we acknowledge the potential of GAP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at .
Cosmopolitan
13-06-2025
- Lifestyle
- Cosmopolitan
6 Best Pairs of Denim Shorts, According to a Shopping Editor
Denim shorts used to be the bane of my existence. I was in middle school when Tumblr was at its peak so extra-short, ripped denim shorts were all the rage, even though it was a truly awful experience when said denim shorts got all bunched up around your thighs (and then permanently stayed that way). There simply are better options out there—namely, these six pairs of denim shorts that have risen to the top of my personal summer fashion ranking. Contrary to popular belief, it is possible to find denim shorts—affectionately known as jorts—that won't cut off circulation in your thighs or generally be supremely uncomfortable. The street style set have been bopping around in longer, baggier styles recently as well as looser, high-waisted fits and white denim. And because this is arguably one of the hardest fashion categories to shop for (along with jeans, bras, and bathing suits), I rounded up six of my favorite pairs with in-depth reviews of each one for your shopping pleasure. These are the greatest shorts I have ever put on my body in all of my 25 years of life. I cannot overstate how obsessed I am with these. The 5.5 inch inseam is my Goldilocks length—slightly longer than a pair of cutoffs you'd wear to Coachella, but still short and breezy. They're slightly stretchy and comfy enough for sitting at a baseball game for three hours, and best of all, they don't get all bunchy at the thighs. Plus, the range of colors they come in? It was love at first try-on for me. My first impression? These bermuda shorts are actually... soft? And comfy? The best way to describe them is like your softest pair of baggy vintage jeans that have been washed to perfection, but in a more summer-appropriate short form. These would be killer styled with a white wife pleaser tank and some knee-high stomping boots, a look that I fully plan on wearing in the next week or two. I love white denim—if white denim has zero fans, consider me dead. I found these Levi's to be the perfect off-white shade for your Nantucket summer, your Fourth of July cookout, your trip to the ice cream shop after a day at the beach, etc. You can throw them on over a one-piece or even wear them as part of a casual office outfit with a belt and a button-up shirt. These have the perfect waist-to-leg-width ratio (aka no back gap)—and anecdotally, I found that these made me look very tan, which is a plus in my book. GAP denim truly never disappoints. Over the years, I've found that they consistently offer great quality for the price, and these shorts are no exception. They're not too heavy and have a great slouch to them, and I cuffed them once to achieve the same right-above-the-knee fit that was shown on the model but they're also tall girl friendly! Heads up: These ran a little big, so if you're between sizes, definitely size down. My love affair with Everlane continues. I was in the dressing room at their Soho location when a girl stepped out behind one of the curtains and asked for my opinion on these shorts. I told her they looked amazing on her (they did) and then proceeded to add them to my own wishlist. These are the perfect Cool Girl baggy shorts that actually fit around the waist, and the denim feels thick and quality without being restrictive. Plus, there's lots of breathing room around the thighs (important during the summer months). When I think of denim shorts that aren't high-waisted, I think of uncomfortable micro-shorts and '00s whale tails. So I can't believe I'm saying this, but these girlfriend shorts are seriously comfy. I was truly shocked that I liked this inseam length and instantly imagined them with a little ribbed tank and some indie sleaze sunnies. They had a decent amount of stretch, too! Heads up: These ran a little big, so if you're between sizes, definitely size down. Hannah is the Shopping Editor at Cosmopolitan, covering all things from chic home decor to trendy fashion finds, TikTok products that are actually worth your $$$, and the perfect gift to buy for your boyfriend's mom. She previously wrote for Seventeen and CR Fashion Book. Follow her on Instagram for hot takes on red carpet fashion and pictures of her office outfits that nobody asked for.
