Guaranteed Auto Protection (GAP/VRI)
GAP Insurance covers the difference between the amount paid by your motor insurer and either the outstanding balance of your finance agreement.
If this does happen, or your vehicle is written off due to accident, fire or theft your insurance company will generally offer you a total loss payment based on the market value of your vehicle at that time. This could be significantly less then either the cash price of the vehicle or the outstanding balance of an existing finance agreement.
There are two types of GAP insurance available to you.
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GAP (Shortfall protection)
This covers the difference between the amount paid by your insurance company and the balance of the outstanding finance agreement up to a maximum payout of £10,000, the maximum vehicle price is £25,000 -
VRI (Vehicle replacement insurance)
This covers the difference between the amount paid by your insurance company, and the full cash price you originally paid for your vehicle, up to a maximum claim limit of £10,000 this payment will help you to replace your vehicle with a new vehicle of the same spec.
Both of these payments are in addition to your insurance claim settlement and are available for new and used vehicles.
Please Contact us for more information.
Payment Protection Plans
Payment protection plans (PPP) have been developed to protect both the private driver and business user against some of the uncertainties in life, which could threaten their ability to maintain those essential finance payments.
Accident sickness or unemployment may bring enough pressure without the added worry of keeping up the repayments on your van.
All plans are suitable for most private customers and self employed customers who are sole traders or in a partnership, the levels of cover are as follows:
- Basic – Life and Accidental Death
- Standard – Life, Accidental Death Disability and Accidental Bodily Injury
- Premier – Life, Disability, Unemployment, Accidental Death, Accidental Bodily Injury and Hospitalisation
Please Contact us for more information.
