Lease Car - GAP Insurance?

19lottie82

I have leased a car (2017 Skoda Yeti) for the first time, as I found a really good deal.

It's getting delivered tomorrow and we will have it for 24 months.

Is it a good idea / worth it to get GAP insurance?

forgotmyname

Its a lease your not buying it? Will the lease company hold you liable if its a writreoff and your insurer say its worth less than the lease company think it is?

If its just a standard lease can you get GAP?

19lottie82

Just leasing it, yes. - not buying it.

I'm not sure. I guess I should prob find out!

Why would GAP not be applicable to a "standard" lease?

forgotmyname

Because the car is not yours. Your just renting it.

I presume it can get messy if your insurer value the car at x if written off but the lease company say its more more. The GAP policy maybe a nightmare dealing with the 2 parties. Because your the customer so are you actually at a loss?

neilmcl

The is such a thing as Contract Hire GAP insurance that's designed to cover the outstanding rental payments in the event of a total loss. Whether it's worth it is another question.

bengalknights

ALA tend to cover these types of gap insurance usually around £60 for 2 years

19lottie82

Thank you - I will check that out.