Hire and Lease GAP

How it works

If your vehicle is stolen or written off as a result of an accident, fire or theft, most insurers will only pay out the market value for your vehicle, even if the claim was not your fault. Depending on the age and mileage of your vehicle at the time of loss, the market value may be substantially less than the outstanding finance owed on it.

Our Hire and Lease GAP insurance covers the difference between the motor insurer’s write-off settlement and the outstanding payment to the end of your hire or lease agreement. This means that you can protect yourself against the risk of financial shortfall and make sure you will not be paying for a vehicle you can’t use.​

What is covered

  • A maximum benefit of up to £25,000, depending on the policy
  • Up to £2,000 contribution towards the initial rental or deposit
  • Up to £250 contribution towards the motor insurer excess
  • In the event of a total loss, the policy will arrange a temporary replacement vehicle, for up to 30 days and for a maximum of £30 per day.

What is not covered

  • Dealer-fitted accessories over £1,500, delivery charges, warranty and insurance premiums
  • Negative equity
  • Vehicles covered under any type of motor trade insurance policy
  • Any additional costs related to the temporary replacement vehicle
  • Any claims not reported according to the terms and conditions of the policy.

Are you eligible?

You will be eligible for the policy if you are:

  • Applying as an individual, you are 18 years of age or over and you are a resident in the United Kingdom, the Channel Islands or the Isle of Man
  • Fully comprehensively insured on the vehicle, and will be throughout the term of cover
  • Using the vehicle principally in the UK, the Channel Islands or the Isle of Man
  • Not purchasing a commercial vehicle weighing over 3.5 tonnes
  • Not purchasing an emergency vehicle, taxi, courier vehicle or a vehicle for hire and reward or driving tuition.

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Combined RTI and Finance GAP

How it works

If your vehicle is stolen or written off as a result of an accident, fire or theft, most insurers will only pay out the market value for your vehicle, even if the claim was not your fault. Depending on the age and mileage of your vehicle at the time of loss, the market value may be substantially less than the price you paid for it.

Our Combined Return Invoice GAP Insurance covers the difference between your motor insurer’s write-off settlement and the amount you originally paid for your vehicle. If the amount required to settle the finance is greater than the original invoice price, we will cover the higher figure.

What is covered

  • A maximum benefit of up to £50,000 depending on the policy
  • If the finance settlement figure is greater than your original invoice price, the policy will settle the higher figure
  • Up to £250 contribution towards the motor insurer excess
  • In the event of a total loss, the policy will arrange a temporary replacement vehicle, for up to 30 days and for a maximum of £30 per day.

[All amounts are inclusive of VAT]

What is not covered

  • Dealer-fitted accessories over £1,500, delivery charges, warranty and insurance premiums
  • Negative equity
  • Vehicles covered under any type of motor trade insurance policy
  • Any additional costs related to the temporary replacement vehicle
  • Any claims not reported according to the terms and conditions of the policy.

Are you eligible?

You will be eligible for the policy if you are:

  • Applying as an individual, you are 18 years of age or over and you are a resident in the United Kingdom, the Channel Islands or the Isle of Man
  • Fully comprehensively insured on the vehicle, and will be throughout the term of cover
  • Using the vehicle principally in the UK, the Channel Islands or the Isle of Man
  • Not purchasing a commercial vehicle weighing over 3.5 tonnes
  • Not purchasing an emergency vehicle, taxi, courier vehicle or a vehicle for hire and reward or driving tuition.

​​

VIEW THE GAP INSURANCE VIDEO BELOW...

Privacy & Terms

Sturgess Motor Group take your data privacy very seriously and as such we have a Data Privacy Notice that details how we use, store, retain and share your data. This is available to view on our website Privacy Statement but in summary, we only use your data to administer your account and to provide you with the product and services that you have requested from us.

We may contact you in the future as advised by our manufacturers and our other nominated partner suppliers to ensure the ongoing safety and care of your vehicle. This also ensures that any policies are maintained, and where consent is provided, includes the replacement of your vehicle and car care related products.

We would also love to keep you informed on offers, events and news that may be relevant to you.