Home : Van 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.

Do I need Commercial Vehicle GAP?

With Commercial Return to Invoice, the answer to this is yes, if you want to:

• Protect the price you paid for your van and cancel out the effects of depreciation
• Be paid more than just the market value settlement at the time of a total loss
• Have enough money to clear any outstanding finance in the event of a total loss AND be left with any amount remaining once this has been paid

With Commercial Vehicle Replacement, the answer to this is yes, if you want to:

• Protect against the depreciating value of your vehicle
• Protect the value of your vehicle, not just what you paid for it
• Protect against potential rising costs of buying the same vehicle again

With Commercial Contract Hire GAP, the answer to this is yes, if you want to:

• Cover your liability under the contract hire agreement if your vehicle is a total loss
• Be able to get a new vehicle on a new agreement with no debt from the previous agreement
• Receive back your deposit/initial rental (if you select Initial Rental cover)

Can I buy Commercial Vehicle GAP?

With Commercial Return to Invoice, the answer to this is yes, if:

• Your vehicle is less than 10 years old
• You have owned it for less than days OR less than days if you have new for old cover from your motor insurer while the vehicle is less than 12 months old
• Your vehicle was purchased from a VAT registered dealer
• Your vehicle is owned outright OR on a Hire Purchase (HP) or Personal Contract Purchase (PCP)

With Commercial Vehicle Replacement, the answer to this is yes, if:

• Your vehicle is less than 7 years old, with fewer than 80,000 miles
• You have owned it for less than days
• Your vehicle was purchased from a VAT registered dealer
• Your vehicle is owned outright OR on a Hire Purchase (HP) or Personal Contract Purchase (PCP)

With Commercial Contract Hire GAP, the answer to this is yes, if:

• You have a lease or contract hire agreement, with no option to buy at the end of the agreement
• Your vehicle was collected in the last days
• Your vehicle is on a lease, contract hire, finance lease agreement or similar, where there is no option to buy the vehicle at the end of the term (there may be a requirement that the vehicle is sold to a third party)

In addition for all above policies the vehicle must not be excluded as one of the following:

Any taxi, mini cab, driving tuition vehicle, courier or delivery vehicle of any type or any private or public rental vehicle or any rally, competition or off-road vehicle of any type. Please see our exclusion list to check your vehicle isn't on the list.

Commercial GAP Insurance Cover Features:

• Commercial Back to Invoice Plus and Commercial Vehicle Replacement Plus GAP available for up to 4 years
• Commercial Contract Hire Plus GAP available for up to 5 years
• We are fully authorised and regulated by the Financial Conduct Authority (FCA) and your policy is covered by the Financial Services Compensation Scheme
• Pays up to £250 or £500 of your Comprehensive Insurance excess (dependent upon underwriter and confirmed at time of purchase)
• Cover available for up to days after delivery of vehicle
• Any personal details amended FREE of charge
• Policy transfer – pro rata transfer of unused premium if you change your vehicle, with no admin fees
• Discount available for renewal and additional policies
• We guarantee to match any comparable online GAP quote