Finance Gap Explained

Vehicle value depreciation could mean there is a risk you will owe more to the Finance Company than the Insurance Company pay-out if the vehicle is written off or stolen. Finance Gap Insurance allows you to insure against the difference (up to a maximum of £20,000) between your Insurance Company pay-out and the amount you owe to the Finance Company. Check out the video below for more information:

Full terms and conditions can be found here.

Eligible Vehicles

• Vanarama leased vehicles only.
• Vehicles up to £125,000 invoice price.
• Cars & Commercial Vehicles up to 3.5cwt.
• Cover is valid for up to 5 years in line with the finance agreement.
• Applies to all finance agreements, including Contract Hire and Lease.
• Applies to cars and commercial vehicles up to 6 years old.
• The vehicle must be separately insured by a Fully Comprehensive Road Risk Motor Policy.
• Can offer cover for courier and motor trade usage for an additional premium.

Major Exclusions

• Your comprehensive motor policy insurer must make settlement payment for a total loss claim.
• Does not cover owed premium for motor insurance policy or GAP policy.
• Use of the vehicle for hire and reward, motor sports, driving instructor or emergency vehicle.
• Modified vehicles post-delivery.

If you would like to know more, call our dedicated Finance Gap Insurance team now on 01442 835768.