GAP (Guaranteed Asset Protection) Insurance

GAP (Guaranteed Asset Protection) Insurance

Guaranted Asset Protection (GAP) Insurance is designed to cover any difference between the settlement your motor insurer will pay you if your van is stolen and not recovered or written off, and the price you paid for your van when you bought it. The difference in these two values is the GAP that this product is designed to cover.

To determine which GAP Insurance product is best for you, your Business Manager will be pleased to assess your needs and will only offer you insurance products that they believe will benefit you.

Mercedes-Benz GAP Insurance is also available for Hire and Reward vehicles. Speak to your Business Manager for further information and policy costs.

What is GAP Insurance?

What is Mercedes-Benz Combined GAP Insurance?

Mercedes-Benz Combined GAP Insurance offers you the opportunity to not incur financial loss if your vehicle is written off and is not replaced by your motor insurer, when your motor insurer may only pay out the market value at the time of the loss. 

If you purchase your Mercedes-Benz as a cash buyer? 

Mercedes-Benz Combined GAP Insurance makes up any shortfall between your motor insurance settlement offer and the original purchase invoice price. 

If you have chosen to finance your Mercedes-Benz?

Mercedes-Benz Combined GAP Insurance makes up any shortfall between your motor insurance settlement offer and the original purchase invoice price, or if greater the shortfall between the finance settlement.

What is Mercedes-Benz Lease GAP?  

In the event of your vehicle being written off, Mercedes-Benz Lease GAP Insurance is designed to protect you against the risk of any shortfall in your lease agreement. Following the comprehensive motor insurance settlement, Mercedes-Benz Lease GAP Insurance will pay the difference between this and the cost to clear your lease agreement and help you start a new one.

How GAP Insurance pays out

Combined GAP Insurance example

If you paid £18,500 for your vehicle and it is written off and your motor insurance company agree to pay out £12,000. Mercedes-Benz Combined GAP Insurance pay-out of £6,500 making up the shortfall between the price you originally paid.

Lease GAP Insurance example

Your vehicle is written off and your motor insurance company agree to pay out £12,000 but you still owe £18,500 on your lease agreement. Mercedes-Benz Lease GAP Insurance will pay-out a sum of £6,500 to clear your lease agreement and help you start a new one.

GAP features include

 Product features  Mercedes-Benz Combined & Lease GAP Insurance
Vehicle Age Cover Up to 10 years
Vehicle Weight Cover Up to 5000kg
Dealer Manufacturer Fitted Accessories Cover £1,500
European Cover (per annum) 90 days
Vehicles costing up to £75,000 Claim limit is up to the purchase price
Motor Insurance Excess Cover Up to £250
Policy Transferable*
Cover available for Lease products
Cover available for Hire and Reward Vehicles#
Cover available for business users
Road Fund License contribution up to £200
Paint protection/StarGuard when detailed on the original supply invoice will be part of a valid claim
   
Lease GAP only  
Contribution towards a replacement vehicle under a new Contract Hire or Lease agreement Up to three (3) monthly rentals to a maximum of £2,500 (including VAT)
*Can be transferred to your new vehicle if you replace your van with one of a similar value. Subject to administration fee. Terms and Conditions apply. #For Hire and Reward vehicles maximum invoice price = £125,000

Where can I purchase Mercedes-Benz GAP Insurance?

Speak to your Sales Executive who will put you in contact with a Business Manager for further information and policy costs.

To make a claim

If you would like to report a claim for a policy that was purchased after March 2014, please contact our Claims Department on 01279 456 507

If you purchased your policy before March 2014 please call 0330 400 1663

To ensure your claim can be processed, please ensure you have the following details ready; 

• Your policy number 

• Vehicle registration 

• Current mileage 

Open 9:00am - 5:00pm Monday to Friday and Saturday 9:00am - 12:00pm. 

The insurance is accepted and underwritten by Acasta European Insurance Company Ltd which is managed on behalf of AutoProtect (MBI) Limited. Acasta European Insurance Company Ltd, 5/5 Crutchett’s Ramp, Gilbraltar, GX11 1AA is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Their FCA registration number is 456936.

AutoProtect (MBI) Ltd is authorised and regulated by the Financial Conduct Authority. FCA No. 312143.