LEASEGAP INSURANCE PRODUCT
» LeaseGAP insurance terms and conditions
Our new insurance product of LeaseGAP presents a splendid solution for each vehicle provided by operating lease.
The LeaseGAP insurance product covers the difference between the booked value of the insured vehicle filed by the leasing company (owner of the vehicle) and the general vehicle value calculated by the primary insurer in the event of total loss or theft.
On one side, LeaseGAP will protect the client against the debts with the leasing company and on the other side it will protect the leasing company against the finacial loss stemming from the insufficient primary insurance settlement which doesn’t cover the loss up to the insured vehicle booked value.
Key product characteristics
- LeaseGAP is determined for leasing companies offering operative leasing
- Vehicle is insured for the events of total loss or theft, up to 36 months
- Maximum settlement limit accounts for SK 500.000,–
- Vehicle is insured by A+ rated Top 25 world insurance company
What vehicles can be insured?
- Vehicles with a valid certificate of roadworthiness, registration number and casco accident insurance, up to 3500 kg
- New personal vehicles up to SK 2.000.000,– including VAT
- Used personal vehicles up to SK 1.000.000,– including VAT and not older than 5 years
- New utility vehicles up to SK 1.500.000,– including VAT
- Used utility vehicles up to SK 1.000.000,– including VAT and not older than 5 years
What vehicles cannot be insured?
Vehicles used for any of the following purposes:- Car rental
- Taxi service, limousine or transporting of passengers for a fee
- Driving schools or driver instruction
- Emergency or police vehicles
- Vehicles owned temporarily or otherwise by parties operating motor vehicle sales or service businesses
If our LeaseGAP insurance product attracted your attention, please see the document
“LeaseGAP insurance terms and conditions” that will provide you with more details.