PAYMENT PROTECTION

Because vehicles tend to depreciate quickly in the first year, then more slowly as they get older, there is a risk that you will owe more to the finance company than the insurance company pay-out if the vehicle is written off or stolen.

GAP Insurance

With GAP Insurance we will pay the difference, up to a maximum of £5,000, between your insurance company pay-out and the amount you owe to the finance company.

So for just a few pounds a week, we will:

• Pay the difference between the insurance pay-out and the amount outstanding
• Payout up to £5000
• Cover vehicles with up to a £50,000 invoice price
• Cover cars and commercial vehicles up to 3.5cwt
• Cover you up to 5 years (in line with the finance agreement)
• Pay the difference between the insurance pay-out and the amount outstanding

Payment Protection Insurance

This covers you for:

• Accident or injury
• Sickness or illness
• Involuntary unemployment
• Business failure (self employed)
• Cover you up to 5 years (in line with the finance agreement)
• Pay the difference between the insurance pay-out and the amount outstanding

Should you be off work for 31 consecutive days due to an accident or illness, business failure or redundancy, we will make your insured monthly payment. We will continue to make payments for each calendar month you are off work until either you return to work or we have made 12 payments.

So for just a small sum every week Payment Protection Insurance will:

• Pay your payments for up to 12 months if you are unable to work due to accident or sickness.
• Pay your payments for up to 12 months if you cease trading or are made redundant.
• Pay off the outstanding balance (including the balloon) in the event of your death.
• Pay off the outstanding balance (including the balloon) in the event of you suffering a critical illness.