Guaranteed Asset Protection (GAP)
Cover the difference between your insurance payment and the full value of your car.
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.
- 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.
- If the vehicle is written off whilst driving illegally or under the influence of drugs or alcohol.
- The vehicle is not covered by a Fully Comprehensive Road Risk Motor Policy
- Use of vehicle for Hire or Reward.
- If the vehicle is unattended and the keys have NOT been removed, all doors locked and any immobilizer and/or alarm activated.
- If your vehicle has a Fridge Unit/Conversion.
- Once an order has been placed, a member of our dedicated GAP team will be in contact to discuss your options.
If you would like to know more, call our dedicated Finance Gap Insurance team now on 01442 835768.