Gap Insurance for Van Leasing

While the team at Vanlease UK do hope that every customer enjoys a smooth and efficient transaction with their new van leasing deal, unfortunately we can only manage certain risks. Therefore, if you are currently going through the process of looking for a new van, you do need to consider the information below and ensure you take every step necessary to manage any foreseeable risks that could arise during the course of the agreement.

If your vehicle is written off or stolen, there is a risk that the insurance settlement may not be sufficient to cover the outstanding finance owing to the funder on the vehicle. This is because vehicles tend to depreciate more quickly in the first year and then at a slower rate as they get older.

Finance GAP pays the difference between the market value, or the insurance company settlement (which ever is the greatest), and the outstanding finance on the vehicle up to a maximum of £5,000 or £10,000 (subject to eligibility and status).

Eligible Vehicles

  • Vehicles up to £75,000 invoice price
  • Available on ALL finance agreements (excludes cash purchases)
  • Cars and commercial vehicles up to 3.5cwt
  • Cover is valid for up to 5 years in line with the finance agreement
  • Cars and commercial vehicles up to 6 years old

Major Exclusions

  • A vehicle written off whilst driving illegally or under the influence of drugs or alcohol
  • A vehicle not covered by a Fully Comprehensive Road Risk Motor Policy
  • A vehicle used for Hire or Reward
  • If the vehicle is left unattended when the keys have not been removed, the doors are unlocked and any immobiliser and / or alarm is not activated

Insurance for van Leasing

VanLease UK do not offer van insurance in conjunction with any of our offers. However, it is a mandatory obligation to insure your vehicle and this is your responsibility to so. VanLease UK have discovered that there is not one particular insurance company that offers a better deal; it is very much a process of using insurance comparison websites to assist you. Please do ensure you arrange your van lease insurance before committing to your next deal.

Should you require any further information about Gap Insurance, please do speak with the team at VanLease UK today. Contact us by calling 01942 608 606 or by emailing enquiries@carlease.uk.com

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