What is Guaranteed Asset Protection (GAP) cover?
GAP insurance provides a financial benefit for a guaranteed up to 25% above the Motor insurer’s settlement.
In the event of a write-off most insurers will settle the claim on the market value of the vehicle at the time of the loss. This can be significantly lower than the outstanding amount due under the lease agreement, which can leave you with a bill you had not budgeted for.
How much does GAP Cost?
More affordable than you might think! Sutton Winson has designed a scheme, underwritten by a major insurer, that will provide you piece of mind at the most competitive premium.
We’ve been out and tested our premiums on an individual vehicle basis and here were the results:
- £40,000 Landrover = Sutton Winson were 69% cheaper!
- £32,000 Mercedes = Sutton Winson were 56% cheaper!
You will receive further discounts for fleets of 5 vehicles and above.
And we have just extended our scheme to include non-leased vehicles. So, if your vehicles are owned and less than 10 years old, you are also guaranteed up to 25% above the insurer’s settlement value.
So regardless as to whether or not you lease don’t wait and speak to your current Team or Matt Eastwood on 020 8891 8529 or email matt.eastwood@swib.co.uk
Category: Commercial Insurance
Matt Eastwood
Matt is the principal contact for Motor Fleet underwriting enquiries.
