PistonHeads

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PistonHeads is working as a GAP Insurance introducer for ALA IB Limited trading as ALA Insurance Brokers, who is Authorised and Regulated by The Financial Conduct Authority. FCA Firm Reference No 571109. Registered in England, number 06833207. Registered office: ALA IB Limited, Unit 3, Park Farm Courtyard, Easthorpe, Malton, YO17 6QX

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Van & Commercial Vehicle GAP Insurance


What is Commercial Vehicle GAP Insurance?

Commercial Vehicle GAP Insurance for your van, light commercial vehicle or pickup can protect you in the event of a total loss.

Commercial Return to Invoice GAP will, in the event of a total loss, pay the difference between the comprehensive insurer’s settlement and the original invoice price of your vehicle or the finance settlement figure, whichever is higher at the time.

Commercial Vehicle Replacement GAP will instead cover the difference between your motor insurer’s settlement and the replacement cost of a vehicle matching the original at the time of purchase, or the outstanding finance balance, whichever is higher.

If the vehicle is on a lease or contract hire agreement, Commercial Contract Hire GAP will cover your liability under the contract by paying up to 100% of the outstanding rental payments for the vehicle and cover any shortfall in the market value settlement provided by the insurer. For an additional premium, you can also protect the initial rental on the agreement up to a maximum of £3,000.



Do I need Commercial Vehicle GAP?

With Commercial Return to Invoice, the answer to this is yes, if you want to:

  • Protect the price you paid for your van and cancel out the effects of depreciation
  • Be paid more than just the market value settlement at the time of a total loss
  • Have enough money to clear any outstanding finance in the event of a total loss AND be left with any amount remaining once this has been paid

With Commercial Vehicle Replacement, the answer to this is yes, if you want to:

  • Protect against the depreciating value of your vehicle
  • Protect the value of your vehicle, not just what you paid for it
  • Protect against potential rising costs of buying the same vehicle again

With Commercial Contract Hire GAP, the answer to this is yes, if you want to:

  • Cover your liability under the contract hire agreement if your vehicle is a total loss
  • Be able to get a new vehicle on a new agreement with no debt from the previous agreement
  • Receive back your deposit/initial rental (if you select Initial Rental cover)

Can I buy Commercial Vehicle GAP?

  • I have bought a new vehicle, or a used vehicle under 10 years of age with less than 80,000 miles
  • I have a van, LCV or pickup which is under 3500 KG GW
  • My vehicle was bought or leased from a VAT registered dealer, finance company or internet broker
  • My vehicle was collected within the last 365 days*
  • My vehicle is owned outright, on a Hire Purchase or Personal Contract Purchase finance agreement or it is on a lease (for Contract Hire GAP)
  • My vehicle is not excluded

    Vehicles used in any sort of competitions or rallies. Vehicles used for racing, pace making, speed testing or in reliability trials; Vehicles not listed in Glass's Guide; kit cars; invalid carriages; commercial Vehicles of more than 3500kg gross weight. Any, taxi, mini cab, driving tuition vehicle, courier or delivery vehicle of any type or any private or public rental vehicle.



Commercial GAP Insurance Cover Features:

  • Commercial Vehicle Replacement Plus GAP and Commercial Contract Hire Plus GAP available for up to 5 years
  • Commercial Back to Invoice Plus GAP available for up to 4 years
  • Cover available for vehicles owned outright or on finance, or for vehicles on lease or contract hire
  • We are fully authorised and regulated by the Financial Conduct Authority (FCA) and your policy is covered by the Financial Services Compensation Scheme
  • Pays up to £250 of your Comprehensive Insurance excess
  • Any personal details amended FREE of charge
  • Cover available for vans delivered within the last 180 days, or 365 days if brand new and insured under a comprehensive Motor Insurance Policy which includes ‘New for Old’ cover for the first 12 months
  • Policy transfer – pro rata transfer of unused premium if you change your vehicle, with no admin fees
  • Discount available for renewal and additional policies
  • We guarantee to match any comparable online GAP quote