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Product advantages GAP-Insurance

Covers the financial gap between replacement costs and financial costs in the event of a total loss.

Co-insured are the costs for replacement vehicle until delivery of the new vehicle.

Additional salvage costs for clean-up and destruction are included.

Deductible up to a maximum of EUR 1.000,00 in the event of a total loss is also covered.

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We protect.

Statistically one out of 20 vehicles suffers a total loss in an accident. For leased vehicles, a total loss also means the end of the lease. This almost always reveals a gap in the form of a "claim difference". This gap can amount to several thousand euros for commercial vehicles and must always be paid by the lessee. Even for down payments made, no repayment can be claimed. They are fully entitled to the lessor. A GAP insurance protects against the described financial risks.

We offer.

In the case of total loss, motor hull insurance always compensates the replacement value, the so-called fair value. This depends on the loss of value, which in turn is influenced by various factors. For most vehicles, the average loss of value after 12 months is 24%. The sum of all instalments at the beginning of a financing is usually well over 110%, as all interest and financing costs are included in this sum. Only with full payment of all monthly instalments, the financing contract ends according to plan. If it is terminated prior to expiry, all outstanding instalments are due immediately, taking into account appropriate discounting. The resulting gap is to be held by the lessee. By means of GAP insurance, we offer appropriate insurance coverage to cover the financial gap.

We provide.

Under the terms of the GAP insurance, the costs for a replacement vehicle, are also covered until the new vehicle can be delivered. Additionally recovery costs for clearing and disposal are covered in the event of damage. If the total loss occurs during a trip, coverage is provided for costs of ongoing travel, overnight and return travel. On top of that GAP insurance also covers the excess in the case of total loss up to a maximum of EUR 1,000.00.

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