VWFS Gap Insurance has been designed to help if your customer’s vehicle is written off through accidental or malicious damage, fire or theft.
If your customer’s vehicle is written off, their motor insurer will usually pay out based on the current market value of their vehicle. This could be a lot less than its original value and therefore may leave them with an unexpected shortfall. Our Gap Insurance helps to cover the gap left by this shortfall to get your customer back in a new vehicle or help pay off any outstanding finance, lease or hire agreement.
There are two types of cover available:
1. Gap Insurance
This pays the difference between the write off settlement from your customer’s motor insurer and the price your customer paid for their vehicle or the outstanding balance payable to the finance company, whichever is the greater amount. If their vehicle is leased or hired, we will cover the difference between the write off settlement from their motor insurer and the early termination charge. This includes any rentals paid in advance as a deposit up to £2,000. Cover lasts for 36 months and the maximum claim limit is based on the vehicle purchase price.
2. Gap Insurance Plus
In addition to all the benefits of Gap Insurance, the Gap Insurance Plus policy includes a 12-month fixed benefit. This will start once your customer’s 36-month Gap Insurance cover ends. If your customer’s vehicle is written off during the additional 12-month fixed benefit period of insurance, we will pay a fixed sum, which is confirmed in their policy documents.
For more information about the benefits included with VWFS Gap Insurance, please refer to the following marketing assets:
Our insurance websites:
Alternatively, please speak to your VWFS Sales Development Manager.
Volkswagen Commercial Vehicle
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0344 573 7559
0344 573 7560
0344 573 7561
0344 573 7562
0344 573 7563
0344 573 7564