What is GAP Insurance?
GAP Insurance is insurance that covers the shortfall in the event that your vehicle is written off or stolen and your Comprehensive Motor Vehicle Insurance does not cover the loan balance on your finance contract.
This could leave you with thousands of dollars in the red. The shortfall will generally occur when you include extras such as CTP Insurance, Registration, Comprehensive Motor Insurance cover in the loan, which does not add the value of the vehicle. It may also occur when a vehicle’s value falls faster than the rate at which the loan is being paid. In both cases, LeaseWorks GAP Insurance will cover any shortfall you may encounter and give you piece of mind when you require it.
What are the benefits of GAP Insurance?
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