Finance Gap

How it works

If your vehicle is stolen or written off as a result of an accident, fire or theft, most insurers will only pay out the market value for your vehicle, even if the claim was not your fault. Depending on the age and mileage of your vehicle at the time of loss, the market value may be substantially less than the outstanding finance owed on it.

Our Finance GAP Insurance covers the difference between the motor insurer’s write off settlement, and the outstanding payment to the end of your Contract Hire or Lease Agreement. Meaning, you can protect yourself against the risk of financial shortfall and make sure you will not be paying for a vehicle you cannot use.

Are you eligible?

You are eligible for cover from the start date of this Policy if:
• You are applying as an individual, or as a company, residing in the United Kingdom, Channel Islands or the Isle of Man; and will be the person hiring or leasing the insured vehicle
• You are the Comprehensive Motor Insurance policyholder or named on the Comprehensive Motor Insurance policy
• You are purchasing a private car or light commercial vehicle not exceeding 4.6 tonnes

What is covered?

• The maximum benefit payable under this policy is up to a maximum of £10,000 or £15,000 (depending on the vehicle invoice price)
• Any initial rental amount or deposit that is detailed on your contract hire or lease agreement, up to a maximum of £2,000.
• The motor insurance excess up to £250 where it cannot be recovered from any liable third party.

What is not covered?

As well as the features and benefits of our policies, it’s important that we make you aware of the product exclusions. Below are some of the major ones. This should not be used as a substitute for your policy documentation, which details the policy exclusions in full.
• Delivery charges, warranty and insurance premiums, or negative equity.
• Vehicles covered under any type of motor trade insurance policy
• Any claims not reported according to the terms and conditions of the policy

How to make a claim

• Notify the administrator immediately after an incident which has resulted in damage.
• Claims can be logged on their website at, where a confirmation of the process and a claim form will be issued.
• The completed claim form and supporting documentation should be returned to the administrator
for assessment.
• Additional details of the claim process can be found in the policy document for this cover.


• This is an optional product, available from other providers and there is no obligation to buy.
• This page is for marketing purposes only and should not be considered a substitute for the full terms and conditions of a policy, which can be found in the policy document – a sample of which is available upon request
• Administered by:
Premia Solutions Limited
2-3 Corunna Court Corunna Road, Warwick CV34 5HQ
Premia Solutions is authorised and regulated by the Financial Conduct Authority under FCA registration number 310089.

PHVC Limited are authorised and regulated by the Financial Conduct Authority. FCA number 716449.
You can verify this information by contacting the FCA on 0800 111 6768 or check