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Note: At the moment UK Carline are not supplying GAP and RTI GAP insurance but we do recommend doing your own research online.
Should your car lease or van lease be written off as a total loss by your insurance company, typically they will only pay the current market value of the vehicle at the time of the loss, and not what you originally paid for it.
Return To Invoice (RTI) Guaranteed Asset Protection (GAP) can soften the blow, and will pay the difference of up to a maximum of either £10,000 or £20,000 (subject to eligibility) between the market value of the vehicle and the original invoice price you paid for it. If the amount required to settle the outstanding finance is greater than the original invoice price, RTI GAP will cover the higher figure, allowing you to end the finance agreement.
Eligible Vehicles
RTI GAP is only available on PCP (Drivewise), Hire Purchase, Business Contract Purchase, and Cash. Furthermore cover is valid for up to 3 years
Major Exclusions
If your vehicle is written off or stolen there is a risk that the insurance settlement may not be sufficient to cover the outstanding finance owing on the vehicle. This is because vehicles tend to depreciate more quickly in the first year and then at a slower rate as they get older.
Finance GAP pays the difference between the market value or the insurance company settlement (whichever is greater), and the outstanding finance on the vehicle up to a maximum of £5,000 or £10,000 (Subject to eligibility).
Eligible Vehicles
This is available on all finance agreements, excluding cash purchases, and cover is valid for up to 5 years in line with the finance agreement.
Major Exclusions