Our Fleet GAP Insurance steps in to bridge this disparity by covering the difference (the GAP) between the outstanding finance and the market value.
Designed for flexibility and peace of mind, our Fleet GAP Insurance ensures that fleet operators won’t face financial setbacks in the event of a total loss motor claim. Count on us to keep your fleet financially secure.
Motor Fleet Gap Insurance generally covers a wide range of vehicles, including cars, trucks, vans, and other types commonly used in fleet operations.
When is the best time to purchase Motor Fleet Gap Insurance?
It is advisable to purchase Motor Fleet Gap Insurance when acquiring new vehicles for your fleet. This ensures coverage from the start and helps mitigate potential financial losses in case of an unfortunate event.
What factors determine the cost of Motor Fleet Gap Insurance?
The cost of Motor Fleet Gap Insurance is influenced by factors such as the number of vehicles in the fleet, their types, the total value of the fleet, and the duration of coverage.
Is Motor Fleet Gap Insurance required by law?
Motor Fleet Gap Insurance is not a legal requirement, but it can be a wise financial decision for businesses or individuals with a fleet of vehicles. Lenders or lessors may also require gap insurance as part of the financing agreement.
How does Motor Fleet Gap Insurance handle vehicle depreciation?
Vehicle depreciation is a key consideration in gap insurance. Motor Fleet Gap Insurance typically covers the difference between the depreciated value of a vehicle and the remaining balance on a loan or lease, ensuring that the policyholder is not left with a significant financial burden.
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