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?

The answer to this is yes:

  • If your vehicle was purchased in the last 60 days, this policy can be bought for vehicles of any age
  • If you have owned your vehicle for more than 60 days, this policy can only be purchased for vehicles which are less than 10 years old
  • If your vehicle was purchased or leased from a VAT registered dealer
  • If your vehicle is not excluded as one of the following: Taxi, mini cab, driving tuition vehicle, courier or delivery vehicle of any type or any private or public rental vehicle or any rally, competition or off-road vehicle of any type. Please see our full exclusions to check your vehicle isn't on the list.

    Any Commercial Vehicle over 3500kg, Motorcycle, Motor Scooter or Moped. Any left hand drive vehicle and a vehicle which does not meet UK or EC approval or is not commercially available in the UK direct from a manufacturer or its authorised importer or dealer. Any taxi, mini cab, driving tuition vehicle, courier or delivery vehicle of any type or any private or public rental vehicle or any rally, competition or off-road vehicle of any type.

Which type of policy do I need?

  • Back to Invoice Plus and Vehicle Replacement Plus are both suitable if your vehicle is owned outright OR on a Hire Purchase (HP) or Personal Contract Purchase (PCP)
  • Contract Hire Plus is suitable if your vehicle is on a lease, contract hire, finance lease agreement or similar, where there is no option to buy the vehicle at the end of the term (there may be a requirement that the vehicle is sold to a third party)


Commercial GAP Insurance Cover Features:

  • Commercial Back to Invoice Plus and Commercial Vehicle Replacement Plus GAP available for up to 4 years
  • Commercial Contract Hire Plus GAP available for up to 5 years
  • 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 or £500 of your Comprehensive Insurance excess (dependent upon underwriter and confirmed at time of purchase)
  • Cover available for up to 365 days after delivery of vehicle
  • Any personal details amended FREE of charge
  • 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