Finance GAP Insurance
Finance GAP is designed to help you manage the financial impact of having your vehicle “written off”.
In the event that your road risk insurer declares your vehicle a “total loss”, there is a likelihood that the amount they will pay to you in settlement of your claim will be less than the outstanding amount you owe to the finance company.
Finance GAP would pay out up to £5,000 or £10,000 to cover the difference between the market value of your vehicle and the settlement / termination figure on your finance agreement.
Key customer benefits:
- Available for both cars and commercial vehicles
- Cover for all finance agreements including contract hire and finance lease
- Cover available for vehicles valued up to £75,000
- Available for vehicles up to 6 years old
- Cover for up to 5 years, in line with finance agreement
Return to Invoice GAP Insurance
RTI GAP Insurance is designed to cover the difference between the market value of a given vehicle and the original price that was paid for it.
In addition to this, the policy also includes a Finance GAP element to it. So, should the value of outstanding finance on the vehicle be greater than the original invoice price of the vehicle then this will be paid instead.
Key customer benefits:
- Cover available for vehicles up to £75,000
- Available for purchase agreements & cash sales
- Cover available for up to £10,000 or £20,000
- Covers vehicles up to 6 years old
- Available for both cars and commercial vehicles
- Covers up to 3 years of ownership
