Should I Add Car Leasing GAP Insurance to my Contract Hire Agreement?

What Is GAP Insurance?

GAP (Guaranteed Asset Protection) Insurance is an insurance policy for the Car Leasing market, designed to protect you from financial loss in the event of your lease car being written off or stolen at any time during the course of your leasing contract.

It should cover the amount of any shortfall between what your comprehensive motor insurance policy will pay out and how much you will have to pay the finance company in order to settle the car lease agreement. As this difference, in some circumstances, could amount to a sizeable sum, GAP Insurance is well worth considering when leasing a car.

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