GAP Insurance

(Guaranteed Asset Protection)

Gap Insurance will offer financial protection in the event that your vehicle is written off. In a total loss scenario, your insurer will pay a settlement figure, and your funder (lease company) will request a payment to settle early termination of your finance agreement. Your motor insurer's settlement figure after a total loss claim may not be enough to settle any finance outstanding on your vehicle. In this situation, the customer is responsible for the finance gap between insurance payout, and finance settlement. Gap Insurance will ensure that you are not left out of pocket by covering any shortfall between the two.

For Example:

Your vehicle is written off 12 Months into a Two Year Contract

The Finance Company Request a Settlement Figure Of:

£20,000

Your insurance company pays out:

£16,500

The difference:

£3,500

Customer Responsible For:

£3,500

GAP Insuarance Pays Out:

£3,500

Your shortfall:

£NIL

Wessex Fleet Solutions can offer Gap Insurance from as little as £40. All quotes provide cover for the full duration of your lease. Premiums are calculated based on your monthly payments, the value of your vehicle (including extras), and the length of your finance agreement. We will calculate a quote for you, and offer to roll the premium into your monthly payments if you so wish. Even if you haven't taken a vehicle through Wessex Fleet Solutions, we are still able to provide cover. Please call us on 01722 322 888 for further details.