GapInsurance123 launch a new guide on Gap Insurance for Contract Hire vehicles as the brand reveals a record number of Gap Insurance sales for lease vehicles in the UK

News provided by

Aequitas Insurance

Jul 29, 2013, 17:30 ET


Wirral, UK (PRWEB UK) 29 July 2013 -- UK based Motor Gap Insurance brand, GapInsurance123, have confirmed that sales of Gap Insurance for leased vehicles in 2013 have exceeded all previous annual totals for the provider. As one of the country's leading independent brands for Motor Gap cover, GapInsurance123 has commissioned a new guide that provides information for anyone looking for information of Asset Protection for vehicles on lease.

GapInsurance123 spokesperson Mark Griffiths explained the reasons for the new guide, and why more consumers may look to Gap Insurance for financial protection.

"Securing a vehicle on a Contract Hire style lease is extremely attractive to business and private individuals in the UK. These types of financial arrangement are quite different from other traditional hire purchase based schemes. This is because the lease holder may now have the chance to own the vehicle at the end of the agreement. However, they may have a substantial financial liability in terms of paying off the lease if the vehicle is stolen or in an accident."

"A Finance and Contract Hire Gap policy from GapInsurance123 can protect the difference between the vehicle market value and the outstanding lease liability at point of total loss. In other words, if a shortfall exists between the motor insurers liability and your lease settlement then your Finance and Contract Hire Gap policy can bridge the difference."

"At GapInsurance123 we have seen a record number of these styles of products purchased in 2013, and hope our new guide can only serve to increase awareness on how Contract Hire Gap can help protect your lease. Gap Insurance and leasing is not too much of a mystery at all."

GapInsurance123 confirmed that the Finance and Contract Hire Gap cover is available for cars and vans purchased in the UK.

Tom Luetchford, Aequitas Insurance, http://easygap.co.uk, 0800 195 4926, [email protected]