Van GAP Insurance | Commercial Vehicle GAP Insurance

What is Commercial Vehicle GAP Insurance?

Commercial Vehicle GAP Insurance for your van, light commercial vehicle or pickup can protect you in the event of a total loss.

Commercial Return to Invoice GAP will, in the event of a total loss, pay the difference between the comprehensive insurer’s settlement and the original invoice price of your vehicle or the finance settlement figure, whichever is higher at the time.

Commercial Vehicle Replacement GAP will instead cover the difference between your motor insurer’s settlement and the replacement cost of a vehicle matching the original at the time of purchase, or the outstanding finance balance, whichever is higher.

If the vehicle is on a lease or contract hire agreement, Commercial Contract Hire GAP will cover your liability under the contract by paying up to 100% of the outstanding rental payments for the vehicle and cover any shortfall in the market value settlement provided by the insurer. For an additional premium, you can also protect the initial rental on the agreement up to a maximum of £3,000.

FAQs

I’m looking at a Return to Invoice quote. What does “Invoice price of vehicle including deposit” mean? What should I include in this?

For the purposes of a quote please use the invoice price of the car including manufacturer fitted extras. Please also include dealer fitted extras; depending upon the policy underwriter, these are either unlimited or covered up to a maximum of £1,500 including VAT (this will be confirmed in the policy documents on the quote page and following purchase).

Deduct any dealer or manufacturer discount (including deposit allowances, concessions, cashback, incentives or contributions).

Please also don’t include: Interest charges, manufacturer delivery charges, paint/upholstery protection, fuel, road fund licence, warranty costs, administration fees, insurance, service plan costs, arrears and negative equity. These costs are not covered by the policy.

If you would like any assistance with a quote, please contact our team on 01653 916304

What is the difference between Return to Invoice and Vehicle Replacement?

Return to Invoice Plus will cover the difference between your motor insurer’s settlement and either your invoice price or outstanding finance – whichever is greater at the time of a write off.

The Vehicle Replacement Plus policy would pay the difference between your motor insurer’s settlement and either the replacement cost of a vehicle of the same make, model, age and specification as the original vehicle or the outstanding finance, again whichever is greater at the time of a write off.

I bought my vehicle from a private individual, can I still have GAP insurance?

The Return to Invoice Plus policy is not suitable for cars purchased from a private seller. Instead we may be able to offer you an Agreed Value GAP quotation.

Is there anything which shouldn’t be included in the invoice price and so would not be covered by the ALA GAP policy?

There are some things that the policy does not cover which includes, but is not limited to: delivery cost, first registration fee, extended warranty charges, insurance products, service plans, arrears negative equity, administration fees, fuel, road fund licence and paint/upholstery protection.

If you would like further advice about whether to include something in the vehicle price, then please call us on 01653 916304