Selected all your options? Now click here >>
23rd Oct 2019 - We supply all makes and models at competitive prices please ring or email your exact requirements!
Quick contact

GAP Insurance

LV Cars Limited is an Appointed Representative of Automotive Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows LV Cars Limited to act as an agent on behalf of the insurer for insurance distribution activities only.

Which sort of GAP Insurance policy do LV Contracts offer?

Our GAP Insurance policy is called Hire and Lease GAP insurance (also known as Finance GAP) and is specifically designed for vehicles on Contract Hire and Personal Contract Hire agreements. A Hire and Lease GAP policy pays the monetary difference between the amount owed on a finance agreement (i.e. the lease) and the market value at the time of the claim. This leaves you with no liability to your old vehicle. Hire and Lease GAP offers many advantages including:
· Up to £250 towards your own motor insurance excess
· Up to £2000 in advance rentals
· Cover for dealer fitted accessories
· Cover for all named drivers comprehensively insured to drive the vehicle

Is GAP insurance compulsory when leasing a vehicle with LV Contracts?

GAP insurance is an optional product and is not legally required when you lease a vehicle with LV Contracts. Whether you choose to take out a GAP insurance policy is up to you however it is worth noting that you only have a limited amount of time to take out the policy. Please get in touch if you have any questions. As with every type of finance product, it is important that you fully research the benefits and features and exclusions before taking it out to ensure it is right for you.

What should I consider before taking out GAP insurance?

A GAP insurance policy may not be suitable for everyone, therefore, it worth considering a few factors that may influence your decision. Hire and Lease GAP insurance may not be suitable if:
· You took delivery of your lease vehicle more than 90 days ago
· You can afford to make up for any shortfall

What does GAP not include?

As with every type of finance product, it is important that you fully research the benefits, features and exclusions before taking it out to ensure it is right for you. It is also important that you ask questions on anything you do not understand or need any clarification on. GAP insurance might not cover you for as much as you’re expecting:
· It won’t cover any amount deducted by your main car insurance company. This can include any unpaid premiums, salvage value or contributory negligence that may be deducted from your payout
· GAP insurance will only cover excesses up to £250 of your claim
· It will not cover any dealer fitted accessories unless specified on the relevant manufacturer's price list
· It also does not cover road fund licence, new vehicle registration fee, delivery charge, administration fee, fuel, paintwork, and/or upholstery protection kits, insurance premiums (including this premium), warranty premiums, service plans and any previous negative equity
· Any other deductions that may be made by the main car insurance company on payout that you accept, will not be covered.

How much does GAP insurance cost?

LV Contracts can offer Hire and Lease GAP insurance from as little as £199 for up to £15,000 worth of cover. This premium price provides cover for the full term, is not annually renewable and includes Insurance Premium Tax. You can choose to pay for the GAP insurance premium as one lump sum or by 10 monthly direct debit instalments. If you wish to pay for the premium in full, this is payable by debit or credit card or by BACs payment.

Welcome to our website. If you continue to browse and use this website you are agreeing to comply with and be bound by the following terms and conditions of use, which together with our privacy policy govern LV Cars Limited T/A LV Contracts's relationship with you in relation to this website.

The term "LV Cars Limited T/A LV Contracts" or "us" or "we" refers to the owner of the website whose registered office is Dominique House, Church Road, Dudley, West Midlands, DY2 0LY. Our company registration number is 08449822. The term "you" refers to the user or viewer of our website.

The use of this website is subject to the following terms of use:

  • The content of the pages of this website is for your general information and use only. It is subject to change without notice.
  • Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.
  • Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements.
  • This website contains material which is owned by or licensed to us. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction is prohibited other than in accordance with the copyright notice, which forms part of these terms and conditions.
  • All trademarks reproduced in this website, which are not the property of, or licensed to the operator, are acknowledged on the website.
  • Unauthorised use of this website may give to a claim for damages and/or be a criminal offence.
  • From time to time this website may also include links to other websites. These links are provided for your convenience to provide further information. They do not signify that we endorse the website(s). We have no responsibility for the content of the linked website(s).
  • You may not create a link to this website from another website or document without LV Cars Limited T/A LV Contracts's prior written consent.
  • Your use of this website and any dispute arising out of such use of the website is subject to the laws of England, Scotland and Wales.
Follow us on Facebook
Follow our tweets
Watch our YouTube videos
Visit our Instagram page
Read what our clients say about us
Our contact details
Read our blog
We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this website. However, if you would like to, you can change your cookie settings at any time. Close this message.