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?

  • Eliminates your financial exposure to a shortfall
  • Provides the potential to borrow additional funds to purchase a better vehicle
  • Provides added protection for your credit rating
  • Includes the additional benefit that it can provide a one off payment of up to $10,000.00 for any inconvenience suffered.
  • The premium covers you for the full term of the loan and can be included in the finance of the vehicle.

Call Now on (1300) 390 979 or Email sales@leaseworks.com.au