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
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 & also if your vehicle has/will have a Motor Traders Insurance Policy
Once an order has been placed, a member of our dedicated GAP team will be in contact to discuss your options
The vehicle must be separately insured by a Fully Comprehensive Road Risk Motor Policy
If you would like to know more, call our dedicated Finance Gap Insurance team now on 01442 835768.