Car Leasing and Van Leasing Specialists UK

tel: 0131 524 9445


GAP Insurance

Contract Hire and Leasing GAP Insurance

Obtain a Quotation

gap insurance

What types of GAP Insurance are there?

Like all forms of insurance, there is a variety of options available, so it’s well worth knowing which is best suited to your exact needs. Don’t rush into agreeing any cover without knowing exactly what you’re going to need. Whilst you can’t have more than one GAP policy on one vehicle, a number of suppliers provide “combined” cover which gives you better coverage and the security that you desire.

  • Lease GAP Insurance: This is also known as Contract Hire GAP Insurance. If you have leased your vehicle rather than buying it, this will be the most appropriate option for your financial situation. Due to lease agreements having so many pre-determined repayments - which are usually required to be paid if the agreement is terminated early - these can prove incredibly expensive if something was to happen to the vehicle. Lease GAP Insurance aims to cover all of that worry, providing enough to satisfy any remaining repayments. With modern leasing, there is often a large deposit required at the start of the contract, and you can choose to protect this as part of your GAP insurance. 
  • Finance GAP Insurance: One of the simpler products available, this policy is often attached to other forms of coverage as part of a package. Designed to fulfil any outstanding finance repayments of a vehicle that’s been written off, it doesn’t tend to extend to payments concerning negative equity. 
  • Negative Equity GAP Insurance: A more comprehensive offer compared to the Finance Gap Insurance, this policy will concern those whose loan amount is higher than the cost of their car. Occurring when somebody has part-exchanged a vehicle before the finance has been paid off – transferring the remaining amount on to their new deal – this insurance will cover that historical debt. 
  • Return to Invoice GAP Insurance: Also known as Back to Invoice, this policy will bridge the gap between your car insurance pay out – which will fluctuate depending on the current value of the car at the time of the claim – and the amount you bought the vehicle for, which may prevent you from being left severely out of pocket. This can often be purchased combined with Finance GAP Insurance. 
  • Vehicle Replacement GAP Insurance: This policy aims to provide the difference between your car insurance policy pay out and the cost of replacing your vehicle with a new one (if it was brand new originally). A good purchase for those who have received discounts or contributions from the dealer when purchasing their car, and are concerned that they may not receive the same level of discount for the same car following a write off. 
  • Return to Value GAP Insurance: Not too dissimilar to the Invoice GAP Insurance option, and often called Agreed Value GAP Insurance, rather than provide the same sum that you originally paid for the vehicle, it pays out the difference between your car insurance settlement and the value of your vehicle at the time you purchased it. More of an option for those who’ve bought the car from a private seller rather than a garage or owned the vehicle for a long time.

Source: ALA GAP insurance

Our Manufacturers

Contact us

Email :

Telephone : 0131 524 9445

Company Address :
Individual Fleet Solutions Limited
7/9 North St David Street

Follow us

Individual Fleet Solutions Limited are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 728474

Registered in England & Wales with company number : 07659818 | Data Protection No : Z3004942 | VAT No : 114789495

Registered Office : Colman House, 121 Livery Street, Birmingham, B3 1RS

Disclaimer: All vehicle images and descriptions are for illustration and reference purposes only, all vehicle leases are subject to credit approval and subject to change at any time. E&OE.

Copyright © 2020 Individual Fleet Solutions Limited, All rights reserved.

Powered by CALAS