Yes, providing that your own motor insurance company are happy with the circumstances and you have not been negligent for any reason.
GAP Insurance
Guaranteed Asset Protection (GAP) is now an essential cover for anyone buying a vehicle on lease, finance or PCP. Remember if your vehicle is written off the insurance company will only cover you for the vehicle itself and not the money owed to any finance company, or lost value via depreciation. Close that GAP now by talking to us about our exclusive product for Cars, Vans and even Fleets!
Call Now: 0344 776 5304
What to look for in GAP Insurance
- Sensible premiums- ours are very competitive
- Specific cover for Couriers and Hire & Reward work
- Cover for new and used cars and vans
- Protect your deposit up to £2,000
- Payment for finance and settlement charges
- Expert advice to ensure the policy meets your needs
- Flexible cover periods-12, 24, 36, 48 months
- Cover for contract hire, HP, PCP and lease deals
- Cover for all drivers on the policy
Why choose Business Choice Direct?
GAP Insurance can be complicated and expensive. We make it simple and cost effective.
Our policies are flexible to span 12, 24, 36 or 48 months. You can pay over 10 months or in full, the choice is yours.
We can arrange Car GAP Insurance, Van GAP Insurance, cover for courier vehicles and more.
Our in-house GAP Insurance experts will guide you through the process. With a variety of options available and strict rules and regulations that govern combined GAP Insurance, it’s wise to talk to the BCD experts to get you the most appropriate cover best suited to your exact needs.
What is GAP Insurance?
GAP stands for Guaranteed Asset Protection. If your vehicle is written off or stolen and not recovered, combined GAP Insurance will make up the shortfall between the market value at the time of loss and what was originally paid or the amount required to settle any outstanding finance or lease agreement. This helps to protect you and your business for financial loss.
GAP insurance can be taken out on leased or bought vehicles, regardless if they are used or new models, but the newer the vehicle the more appropriate GAP cover becomes. We all know that your vehicle depreciates instantly once purchased, and driving for a living leaves you more vulnerable to accidents or possible theft. GAP Insurance will provide cover if your vehicle is written off, ensuring you receive appropriate reimbursement. You need to ensure that you have the appropriate comprehensive vehicle insurance in the first place otherwise the GAP cover might be invalid.
Frequently Asked Questions need some help?
How long should a GAP policy last?
GAP Insurance cannot be renewed or extended, for that reason we provide you with the option to take out a 12, 24 or 36 month policy.
Are there any instances where GAP Insurance doesn’t pay out?
If your motor insurer refuses your claim for any reason, then GAP Insurance cannot settle the shortfall. Also, if you purchase a brand new car which is subsequently a total loss and your insurer offers you a new-for-old replacement vehicle which you refuse, your GAP policy will not pay out. Please refer to your policy wording for full exclusions.
Is there a minimum age for buying GAP Insurance?
You must be 17 years of age with a provisional or full driving license and covered by a fully comprehensive insurance policy.
Is my vehicle covered for GAP Insurance if I take my vehicle abroad?
Yes, provided your motor insurer extends fully comprehensive cover to Europe.
We think you should also consider…
- Correct Vehicle Insurance- talk to us!
- Excess Protection
- Breakdown Cover
- Legal Cover
- Commercial Vehicle Insurance,
- Public and Employer’s Liability Insurance