Gap Insurance by Planet Leasing

Contract Hire GAP Insurance

Cover features:

• Pays off Outstanding Rentals
• Maximum term 5 years
• Pays up to £250 of your insurance excess
• All named drivers on the Fully Comprehensive insurance policy including Provisional Licence holders
• Maximum level of GAP cover available is £25,000
• Doesn’t cover arrears or maintenance shortfall
• Available for cars and vans up to 3.5 tons (unladen)
• Personal Contract Hire and Business Contract Hire agreements
• Free transfer for the remaining balance of the GAP policy if you change your vehicle before the insurance end date
• If your primary insurer replaces your vehicle new for old in the first and or second year, we will transfer the whole policy to your replacement vehicle FREE of charge
• Any amendment you wish to make to your existing policy, for example; change of address or registration number can also be made, again FREE of charge.
• If your Fully Comprehensive Insurance provider accepts your ‘Total Loss’ claim, your GAP Insurance policy will pay out
• We cover for theft of keys

Example:

A vehicle leased on a 36 month contract paying 3 months in advance leaving 35 rentals to pay at a monthly rental of £300 + VAT.

Assume the vehicle is declared a Total Loss in month 4 leaving 31 rentals due.

Total rentals due: £9,300

Leasing companies can charge up to 100% of outstanding rentals, without GAP Insurance this may well be payable by you as it is unlikely to be covered under your Fully Comprehensive policy.