GAP for Fleets

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Publish date: 2009-11-09

Most of fleets and vans usually share one common feature – they are purchased through some lease or loan agreements or with accompanying commercial vehicle financing options. Whatever the way of buying, such contracts require additional security to the purchased object in the vast majority of cases. Due to the fact that commercial vehicles present high value by themselves, especially when bought in bulk, both buyers and financing organizations want to be on the safe side in case of any tragic and unexpected events. And such securing may be obtained simply by taking out gap insurance for fleets. Gap insurance for fleets is mostly combined with practically all forms of commercial vehicle financing. The only form which is not accepted sometimes being the contract hire. In order to use gap insurance for fleets operators need to make sure their commercial vehicles have been bought within the last three to six months- depending on the GAP insurance provider policy- and their age is three to five years. The maximum cover period is usually five years, up to seven in some special circumstances. The good thing about the GAP for fleets is that it is available to anyone possessing a commercial vehicle- whether the operator or the individual.

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