Gap Insurance – Bridge between consumer and the Company
Once the vehicle is given a write off by the insurer the vehicle owner approaches the gap insurance company to settle the balance amount that is in due to the finance company or the lease company. Gap insurance optimally comes into effect for those who have hire purchased or leased from a leasing company or a finance company. Those who have bought their cars for outright purchase will not be benefitted from Gap insurance. Nationwide Vehicle Contracts Gap Insurance will bridge this gap or shortfall and the insurance cover is extended for Cars & Vans up to 6 Years Old. The Gap Insurance offered by the Nationwide Vehicle contracts is underwritten by the QBE Insurance Europe Limited which is a leading insurance provider in Europe and the insurance covers cars that are valued up to £75,000. The Nationwide vehicle contracts also have the option to pay by monthly direct debit.