GAP Insurance.

GAP Insurance

There are two levels of GAP Insurance product available:

Combined GAP Insurance by smart.

Your Business Manager will be pleased to assess your needs when it comes to Combined GAP Insurance by smart. They will only offer you insurance products that they believe will benefit you.

What is Combined GAP Insurance by smart?

GAP Insurance offers the policyholder the opportunity to not incur financial loss if their vehicle is written off and is not replaced by the motor insurer; paying out only the market value at the time of loss.

If you purchase your smart with cash.

Combined GAP Insurance by smart makes up any shortfall between your motor insurance settlement offer and the original purchase invoice price.

If you have chosen to finance your smart.

Combined GAP Insurance by smart makes up any shortfall between your motor insurance settlement offer and the original purchase invoice price, or if greater the shortfall between the finance settlement.

Benefits

> Enables you to replace your vehicle, should it become a total loss, with one of the same value as when you originally bought it
> Available in 12, 24, 36 and 48 month durations
> Available for all smart cars under 10 years old
> Cover vehicles up to 5000kg
> Covers manufacturer approved accessories fitted by the dealer up to £1,500
> Up to £250 is covered for any motor insurance excess

In the event of a claim with your permission, the administrator can negotiate on your behalf, to ensure you are receiving a fair value for your vehicle, with your motor insurance company.  Please contact the administrator before accepting any offer from your motor insurance company; otherwise the benefit of this policy may be reduced.

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Lease GAP Insurance by smart.

Your Business Manager will be pleased to assess your needs when it comes to Lease GAP Insurance by smart. They will only offer you insurance products that they believe will benefit you.

What is Lease GAP Insurance by smart?

In the event of your vehicle being written off Lease GAP Insurance by smart is designed to protect you against the risk of any shortfall in your lease agreement. Following the comprehensive motor insurance settlement Lease GAP Insurance by smart will pay any difference between this and the cost to clear your lease agreement and help you start a new one.

Benefits

> Ensures there is no financial shortfall on your lease agreement if the car is written off
> Available in 12, 24, 48 and 60 month durations
> Available for all smart cars under 10 years old
> Cover includes manufacturer approved accessories fitted by the dealer up to £1,500
> Up to £250 is covered for any motor insurance excess
> Covers up to 3 monthly rentals to a maximum of £2,500, towards a replacement vehicle under a new lease agreement

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In the event of a claim and with your permission, the administrator can negotiate on your behalf, to ensure you are receiving a fair value for your vehicle, with your motor insurance company. Please contact the administrator before accepting any offer from your motor insurance company; otherwise the benefit of this policy may be reduced.

Both products can be provided to include Hire and Reward, if you plan on using your smart for commercial hire and reward purposes e.g. couriers, private hire, chauffeurs etc.

Available at participating Retailers only.


The insurance is accepted and underwritten by Lloyd's Syndicate 5820 which is managed by ANV Syndicates Limited on behalf of AutoProtect (MBI) Limited. Lloyd's Syndicate 5820 managed by ANV Syndicates Limited 1 Minster Court, Mincing Lane, 4th Floor, EC3R 7AA is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Their FCA registration number is 312143. AutoProtect (MBI) Ltd is authorised and regulated by the Financial Conduct Authority.