Gap insurance

Volkswagen Commercial Vehicle Insurance products are designed to ease the pain, ensuring that if the unforeseen happens you and your Volkswagen Commercial Vehicle have the best protection available.

Our gap insurance (also known as guaranteed asset protection) helps to bridge the payment gap between the settlement amount from your motor insurer and the original purchase price of your vehicle or the outstanding finance.

So if your vehicle is written off, or stolen and not recovered, the additional worry of finding the money to purchase a replacement Volkswagen Commercial Vehicle could be taken away.

We think you deserve another new Volkswagen Commercial Vehicle if yours is no longer with us. So Volkswagen Commercial Vehicle Insurance provides you with a range of cover to choose from:

• Return to invoice price
  Pays the difference between the original purchase price of your Volkswagen
  Commercial Vehicle and the total loss settlement paid to you by your motor insurer.
  
  
• Outstanding finance
  Pays the difference between any outstanding finance (excluding any arrears) on your
  Volkswagen Commercial Vehicle and the settlement paid to you by your motor insurer.
  
  
• Return to invoice price and outstanding finance
  Combines the advantages of return to invoice price and outstanding finance. Paying the difference between the total loss settlement paid by the motor insurer and the original purchase price or the amount required to settle the finance agreement, whichever is greater.
  
  
• Lease charges
  For vehicles financed on a contract hire agreement, lease charges pays the difference between the motor insurance payout and the amount required to settle the agreement.

The original purchase price includes all factory fitted accessories and any discount given but excludes Van Centre fitted extras or accessories, road fund licence, new vehicle registration fee, fuel, paintwork and/or upholstery protection kits, insurance premiums, warranty premiums and any such associated costs and any negative equity.

How can I arrange gap protection?

Arranging Volkswagen Commercial Vehicle Insurance gap insurance is really easy. Your local Van Centre can help you work out which level of cover is right for you. They can then set up your policy there and then.

How does gap insurance work?

If, for example, you purchased a vehicle costing £20,000 (excluding VAT) and it is written off after 15 months, your motor insurer may only pay out the current market value which might be £16,000. To replace your Volkswagen Commercial Vehicle with another model worth £20,000 you will need to find £4,000. However, with our return to invoice price cover we could pay you the missing £4,000.

With our outstanding finance product the gap insurance payment would only be sufficient to cover any charges (up to a maximum of £10,000) that would need to be paid in order to fully settle your finance agreement.