Contract Hire UK Stock List
Prestige and Rare, Vans, and Green Cars available from Contract Hire UK
Insurance
Please be aware this is a basic guide to our products and policies. Further information can be obtained from our terms and conditions.
- Finance GAP Insurance
- Contract Hire GAP Insurance
- Commercial GAP Insurance
- Fleet GAP Insurance
- Motorhome GAP Insurance
- Back To Invoice GAP Insurance
- Vehicle Replacement Insurance
- Payment Protection Insurance
- Early Termination Insurance
Finance GAP Insurance
Eligability – Hire Purchase, Lease Purchase, Personal contract Purchase (PCP)
Finance GAP is available for a vehicle financed under a Finance Agreement other than Contract Hire. Finance GAP insurance is available to companies and private individuals on vehicles up to eight years of age for a maximum cover period of 5 years, irrespective of when you bought the vehicle – with Finance GAP you pay for the period of cover you require.
If the vehicle is written off during the period of the Finance Agreement, without taking out Finance GAP you will be liable for any financial shortfall when settling the Finance Agreement if not fully covered by your general motor insurance policy.
Your motor insurance provider will pay out the market value of your car. If the finance settlement from your finance provider is in excess of the insurer’s offer you will be personally liable for the financial shortfall.
Example:
| Original Cost of your car: | £20,000 |
|---|---|
| Deposit: | £2,000 |
| Amount of loan: | £18,000 | One year later the car is stolen or is in an accident and declared a total loss. |
| Amount still owing to your finance company: | £12,000 |
| The insurance company pays you only: | £9,000 |
So what will you have to do?
Simple! The Vehicle owner has to pay the GAP
Finance GAP Insurance will pay the £3,000 still owing to the Finance / Contract Hire Company
Protect your investment and avoid financial worry... Buy Finance GAP Insurance online today
Contract Hire GAP Insurance
Eligibility – contract Hire, Personal Contract Hire, Lease Hire, Finance Lease
Contract Hire/Lease GAP is available for vehicles financed under a contract hire agreement or other lease type arrangement only and is available to companies and private individuals. We can cover cars that are up to 8 years old for a maximum period of 5 years – effectively meaning the car could be 13 years old on its return.
Contract Hire/Lease GAP is available for the period of cover you require, you may have already leased the car for 2 years into a 4 year lease – you only pay for two years of cover.
If the vehicle is written off during the contract hire/lease agreement, you will be personally liable for any financial shortfall remaining if the contract hire company require more than your motor insurer is willing to pay in settlement.
Example:
| Original Cost of your car: | £20,000 |
|---|---|
| Deposit: | £2,000 |
| Amount of loan: | £18,000 | One year later the car is stolen or is in an accident and declared a total loss. |
| Amount still owing to your finance company: | £12,000 |
| The insurance company pays you only: | £9,000 |
So what will you have to do?
Simple! The Vehicle owner has to pay the GAP
Contract Hire GAP Insurance will pay the £3,000 still owing to the Finance / Contract Hire Company
Protect your investment and avoid financial worry... Buy Contract Hire GAP Insurance online today
Commercial GAP Insurance
We are delighted to offer GAP Insurance for your commercial vehicle, whether a single unit or fleet, covering light vans to 44t GVW Tractor Units.
We can start cover on vehicles up to 8 years old for up to 5 years.
Levels of cover range from: £10,000 to £20,000
There are four types of GAP policy available:
Contract Hire GAP Insurance
For leased vehicles only.
Finance GAP Insurance
For vehicles on purchased based finance.
Back to Invoice GAP Insurance for vehicles up to 3.5t
For vehicles on purchased based finance.
Back to Invoice GAP Insurance for vans and trucks 3.5t to 44t
For vehicles on purchased based finance.
Vehicle Replacement GAP Insurance for vehicles up to 3.5t
For vehicles on purchased based finance.
Fleet GAP Insurance
When buying Fleet Insurance for your company cars and commercial vehicles, have you considered Fleet GAP Insurance? - WHY YOU SHOULD. Please read on:
If you unfortunately suffer a vehicle insurance loss, without Fleet GAP Insurance it is extremely likely that you will suffer financial loss when settling the car or commercial vehicle finance off - this can potentially be substantial.
Motorhome GAP Insurance
Eligibility – Hire Purchase, Lease Purchase, Personal Contract Purchase (PCP), Outright Purchase, Personal Loan
Back to Invoice is available to a company or private individual whether the car is on finance (except Contract Hire), owned outright or on a personal loan. We can supply cover for cars up to 8 years old with four years of cover. When the vehicle is purchased or placed on finance, the motor dealer will supply you with an invoice stating the invoice price you have paid for the car.
In the event of an insurance write-off, your motor insurance policy will pay to you what they believe is the market value of the car – probably substantially less than you paid for it. By having a Back to Invoice Insurance policy the policy will pay to you the difference between the insurance settlement and your original invoice price. If the car is on finance, you should still benefit from a considerable contribution towards the purchase of a replacement car of your choice when settled off.
Example:
| Original Cost of your car: | £20,000 |
|---|---|
| Deposit: | £2,000 |
| Amount of loan: | £18,000 | 18 Months later the car is stolen or is in an accident and declared a total loss. |
| Amount still owing to your finance company: | £12,000 |
| The insurance company pays you only: | £9,000 |
So what will you have to do?
Simple! The Vehicle owner has to pay the GAP
Back to Invoice GAP Insurance will pay to the customer the £11,000 difference between the insurance payout and the original cost of the car.
Protect your investment and avoid financial worry... Buy Back to Invoice Insurance online today
Back to Invoice Insurance
Eligibility – Hire Purchase, Lease Purchase, Personal Contract Purchase (PCP), Outright Purchase, Personal Loan
Back to Invoice is available to a company or private individual whether the car is on finance (except Contract Hire), owned outright or on a personal loan. We can supply cover for cars up to 8 years old with four years of cover. When the vehicle is purchased or placed on finance, the motor dealer will supply you with an invoice stating the invoice price you have paid for the car.
In the event of an insurance write-off, your motor insurance policy will pay to you what they believe is the market value of the car – probably substantially less than you paid for it. By having a Back to Invoice Insurance policy the policy will pay to you the difference between the insurance settlement and your original invoice price. If the car is on finance, you should still benefit from a considerable contribution towards the purchase of a replacement car of your choice when settled off.
Example:
| Original Cost of your car: | £20,000 |
|---|---|
| Deposit: | £2,000 |
| Amount of loan: | £18,000 | 18 Months later the car is stolen or is in an accident and declared a total loss. |
| Amount still owing to your finance company: | £12,000 |
| The insurance company pays you only: | £9,000 |
So what will you have to do?
Simple! The Vehicle owner has to pay the GAP
Back to Invoice GAP Insurance will pay to the customer the £11,000 difference between the insurance payout and the original cost of the car.
Protect your investment and avoid financial worry... Buy Back to Invoice Insurance online today
Vehicle Replacement Insurance
Vehicle Replacement Insurance is available for vehicles that are financed, on a personal loan, or owned outright. Vehicle Replacement Insurance is available to private individuals and companies. The cars can be up to 8 years old and cover is available for up to 4 years from the date that you took delivery of the vehicle.
In the event of an insurance write off, your motor insurance provider will only pay to you what they believe is the current market value for the vehicle – substantially less than you paid for it. Your insurer will pay a nominated dealer their settlement and your Vehicle Replacement Policy will pay to the dealer the difference in the value of replacing the car with a new car of the same or similar specification as the original car or of similar age if the car was not new when originally purchased.
Example:
| Original Cost of your car: | £20,000 |
|---|---|
| Deposit: | £2,000 |
| Amount of loan: | £18,000 | 18 months later the car is stolen or is in an accident and declared a total loss. |
| Amount still owing to your finance company: | £12,000 |
| The insurance company pays you only: | £9,000 |
So what will you have to do?
Simple! The Vehicle owner has to pay the GAP
Vehicle Replacement Insurance will pay to the nominated motor dealer the difference between the £9,000 insurance payout and the cost to buy a brand new car.
Protect your investment and avoid financial worry... Buy Vehicle Replacement Insurance online today
Payment Protection Insurance
Payment protection Insurance will pay your monthly payments on any motor finance agreement, mortgage, or any type of loan if you become unemployed or cannot work due to accident or sickness.
What is Payment Protection Insurance?
A unique policy that allows you to protect your monthly loan/vehicle repayments against
- Accident
- Sickness
- Unemployment
Payment Protection Insurance provides cover that will help you to keep your vehicle by maintaining your monthly repayments during difficult times
Who can buy Payment Protection Insurance?
Payment Protection Insurance is offered to any private individual that is purchasing a car or some other form of finance in their own name.
Finance agreements that would qualify are
- Personal Contract Purchase (PCP)
- Hire Purchase
- Lease Purchase
- Personal Contract Hire
Payment Protection Insurance is not available to companies
Payment Protection insurance is available to you if you are self employed
Example:
| Original Cost of your car: | £20,000 |
|---|---|
| Deposit: | £2,000 |
| Amount of loan: | £18,000 |
| Period of loan: | 36 months |
| Your monthly repayment: | £500.00 |
12 Months later you are made redundant, have an accident or become ill and cannot work!.
Payment Protection Insurance will pay the driver of the car £500.00 per month so they can keep up the payments for their vehicle.
Maximum number of payments for Unemployment is 12 months
Maximum number of payments for Accident/Sickness is 12 months
Protect your investment and avoid financial worry... Buy Payment Protection Insurance online today
Early Termination Insurance
PROTECT YOURSELF IN CASE YOU NEED TO TERMINATE YOUR VEHICLE CONTRACT EARLY…
Early Termination will protect you as an individual for penalty charges incurred as a result of closing your Finance,
Contract Hire or Leasing agreement early for one of the following reasons:
- Unemployment
- Expatriation – i.e. your company moves you abroad to work
- Life
- Loss Of Licence [on medical grounds]
In addition, if you become unemployed for more than 30 days and don’t want to hand your vehicle back early but need help with your monthly repayments, Early Termination Insurance will pay the Finance Company up to 3 monthly installments on your behalf. (Maximum benefit payable is £1,000 per month). If you subsequently hand your vehicle back after the 3 months this amount will form part of your maximum claim limit of £5,000.
Early Termination Insurance It is available to anyone who has taken out a Personal Contract Purchase or Personal Contract Hire.
Example:
| Original cost of your car is £19,000 and you are paying £350 per month over 36 months. 12 months into your agreement you are made redundant and need to hand your car back early: | |
| Amount outstanding on your rentals: | £14,800 |
|---|---|
| Less the sale price of the car after 12 months of use: | £13,000 (Estimate) |
| This leaves a shortfall of: | £1,800 |
| Early Termination Insurance would pay: | £1,800 |
The example shown is for illustration only.
Avoid Financial Risk...
In association with some of the UK's leading independent insurance brokers, we are able to offer clients of contracthireuk.co.uk a very individual and cost effective approach to vehicle insurance.
Please complete the basic information shown below and we will contact you to discuss the details and give you a quotation.
