Other types of Gap insurance

You may think that because you have a hire vehicle that you need contract hire gap insurance, this is not necessarily the case. If you can never own the vehicle, then Contract Hire and Finance Gap Insurance is for you, however, if you can own the vehicle, then there are other types of gap insurance that could apply to you.

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Contract Hire Gap insurance?

Contract Hire Gap Insurance is a supplementary policy that runs along side your own motor insurance.

It ensures that if your contract hire vehicle is written off it pays the difference between your own motor insurance companies valuation and the amount that you need to be able to clear your financial liability.

Did You Know!

Did you know that the average vehicle with average mileage can lose up to 50 % of its value within the first three years alone. This can increase dramatically if your vehicle is expected to be high mileage.

Did You Know!

If your contract hire vehicle is written off your finance company will still have an amount that you will need to pay.

No matter if they call it a settlement, back rentals, or something else it is a physical amount that you are legally obliged to pay to clear your financial liability to your old vehicle.

Did You Know!

Did you know that if your contract hire vehicle is written off then your own motor insurance company is only ever legally obliged to pay you what your vehicle was worth on the day it was written off.

Other types of Gap insurance

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Contract Hire Gap insurance?

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