Comparing Contract Hire GAP insurance

Whether you're comparing the cover features of our Contract Hire GAP insurance policy with a policy available from elsewhere, or simply wanting a better understanding of our policy, the table below will help.

Feature	Details
A-Rated Insurer?
ALL named drivers on your motor insurance policy, covered?
NO Pre-Approval clause with penalty? Some policies from some GAP insurance providers strictly enforce that you must seek the claim administrator's approval before accepting an offer from your motor insurer, with you forfeiting some or all of your GAP insurance claim in the event that you don't.
Total Loss Courtesy Car available? Provides the use of a courtesy car for up to 28-days in the event your motor insurer declares your vehicle a Total Loss and withdraws their courtesy car provision	Subject to an additional fee being paid.
Covers some or all of the Initial Rental you paid? In the event of a Total Loss, be reimbursed some or all of the initial rental that you paid as part of your lease agreement, thereby reducing the hit to your pocket in organising the lease of a replacement vehicle.	Max £3,000
Initial Cooling Off Period? Cancel within this period and receive a full refund if no claim has been made	30-days
Pro-Rata rebate of unused premium if you cancel outsde of the initial Cooling Off Period? If you sell your vehicle and cancel the policy early with no claim having been made, do you get some of your money back?	Daily Calculation
Transferable? If you sell your vehicle and have not claimed on your GAP insurance policy, can the unused portion be transferred forward on a new vehicle?	We will cancel your policy and allow you to transfer forward, the financial value of the remaining period of your cover, against the cost of a new policy on a new vehicle. No cancellation, transfer or admin fees will apply.
Will pay towards your Motor Insurance excess in the event of a successful Total Loss claim?	£750
NO Market Value clauses? A Market Value clause permits the claim administrator to reduce the amount of your claim based either on their belief that you paid too much for it when you originally bought your vehicle or, if your motor insurer pays out less than they think your car is worth at the time of claim - potentially both. Where possible you should avoid any GAP insurance policy that has one or more market value clauses permitting such a reduction in the amount of claim.	None
Maximum age of vehicle that can be covered?	10 years old
Maximum vehicle value?	£100,000
Maximum Claim Limit available? (Subject to the vehicle value)	£75,000
Maximum duration of cover available?	5 Years
Is there a cancellation Fee if cancelled outside of the initial Cooling Off Period?	£15.00 Waived if a new policy is purchased.
How long after taking delivery of the vehicle, do have to buy GAP insurance?	Any time. So long as there's a minimum of 12 months remaining on your lease (or a minimum of 6-months remaining if it's a 1-year lease)
Available for both New and Used vehicles?
Allows for vehicles to be modified?

Standard & Poor's	A+
A.M. Best Company	A+
Fitch	AA-
Moody's	A2

Standard & Poor's	A+
A.M. Best Company	A+
Fitch	AA-
Moody's	A2