Call us on: 01293 456 100

info@firstvehiclefinance.co.uk

GAP Insurance

GAP Insurance

If your vehicle is declared a total loss as a result of an accident, theft, fire or flood, there is a risk that your Motor Insurance settlement may not completely pay off the outstanding finance owed on the vehicle, leaving you with a balance to pay off for a vehicle you no longer have.

Mind the GAP!

Finance GAP pays the difference between the motor insurer settlement and the outstanding finance on the vehicle, up to a maximum of £15,000 (subject to eligibility). In addition to this, we will also pay you up to £250 of your motor insurance excess in the event of a “fault” claim.


Eligible Vehicles

  • Vehicles up to £125,000 invoice price 
  • Cars and commercial vehicles up to 3.5 tonnes 
  • Vehicles less than or equal to 6 years old 
  • For vehicles financed on any Contract Hire or Lease agreement (excludes cash purchases)

Please note, the following vehicles and use are excluded; 

  • Emergency vehicles, taxis, bus or driving schools 
  • Vehicles used for pacemaking, racing, speed testing or reliability trials, hire or reward, including private hire or taxi, couriers, tuition, etc 
  • Any left hand drive vehicles and vehicles which do not meet UK or EC approval or are not commercially available in the UK direct from a manufacturer or its authorised importer or dealer

Duration of Cover

  • For up to 60 months in line with the finance agreement, or 
  • Until the vehicle is sold, or 
  • Until the finance is terminated whichever is sooner

Major Exclusions

  • Any warranty charges, insurance premiums, road fund licence, dealer fitted extras and accessories 
  • A vehicle written off whilst being driven illegally under the influence of drugs or alcohol 
  • Any VAT, where a policy holder is able to reclaim the VAT from HMRC 
  • Vehicles NOT insured under a comprehensive UK motor insurance policy throughout the term of cover 
  • If the vehicle is stolen by any person who has access to the keys 
  • Any excess over £250 
  • If the vehicle has been modified in any way from the manufacturer’s specification
alt tag


Would you like a quote or do you have a question?


Just fill in your details below and one of our team will contact you

Marketing preferences

We'd like to keep in touch, please select how you would like to be contacted for marketing purposes

After submitting this form our marketing database will be updated. You can opt-out of receiving communications at any time. Your privacy is very important to us read more

Please select the fuel gauge icon*

New edibox, Double click to edit