Finance Gap Insurance
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.
- 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.