Protect yourself against total vehicle loss
If you have a vehicle on finance and it is written off due to fire, theft or accident, what happens if the motor insurance doesn't cover the outstanding finance?
Simple. You would have to make up the difference yourself. Then you would need to fund a replacement vehicle.
To avoid you being out of pocket, consider our financial shortfall protection. With a choice of options, you can shield yourself and your business from the costly outcome of total vehicle loss.
'Return to Invoice': our premium product for passenger cars and light commercial vehicles (LCVs)
Features and benefits
In the event of the total loss of a passenger car or LCV due to fire, theft or accident, the policy will pay the difference between the road risks motor policy settlement or the market value at the date of loss (whichever the insurer considers appropriate) and the current list price (for vehicles purchased as new) or the original purchase price (for vehicles purchased as used). Any additional finance shortfall between the current list price (for vehicles purchased as new) or the original purchase price of the vehicle (for vehicles purchased as used) and the early settlement figure on your finance agreement will also be paid, up to the combined limit of cover of £15,000. This includes any motor insurer's policy excess up to £250.
In addition:
- this cover is available for vehicles acquired by any funding method (including cash purchase)
- the policy may be transferred if you sell the vehicle.
Period of cover: Up to five years from the date of purchase (the vehicle must be less than five years old at the policy start date).
In the event of a loss
- of a new vehicle the current list price will be calculated less any discount, Road Fund licence, first vehicle registration fee, cherished number plate transfers and any other administration fees, subscriptions or premiums. The same or equivalent fixed options will apply e.g. options which are factory fitted prior to delivery.
- of a used vehicle the original purchase price will be calculated net of Road Fund licence, cherished number plate transfers, dealer fitted accessories and any other administration fees, subscriptions or premiums or the market value, whichever is lower.
'GAP Protection': our basic product for passenger cars and light commercial vehicles (LCVs)
Features and benefits
In the event of the total loss of a passenger car or LCV due to fire, theft or accident, the policy will pay the difference between the settlement from your road risk insurer or the market value at the date of loss (whichever the insurer considers appropriate) and the early settlement figure on your finance agreement (excluding arrears).
Limit of cover: £7,500. This includes any motor insurer's policy excess up to £250.
Period of cover: Up to five years from the date of the finance agreement (the vehicle must be less than five years old at the policy start date).
Important notes: All valid claims payments will be made to the finance company supplying the funds for the vehicle. The policyholder must contribute the settlement received from their road risk insurer towards the finance settlement.
We also offer financial shortfall protection specifically for HGVs. Please ask for more information.
Who is eligible for Return to Invoice or GAP cover?
| YES | NO | |
|---|---|---|
| Are you over the age of 18? |  |
 |
| Do you reside in the UK (includes Channel Islands and Isle of Man)? | |
|
| Will your vehicle be covered by Comprehensive Motor Insurance? | |
|
| Is your vehicle less than 5 years old? | |
|
| If you have answered "Yes" to all of the above questions you are eligible to take advantage of the Lombard Return to Invoice or GAP Protection. Please contact your nearest Lombard Office to discuss your individual requirements and arrange cover. | ||
GAP Protector (PDF, opens in new window) - download the full brochure here
Return to Invoice Cover Summary (PDF, opens in new window) - download our key facts summary here
GAP Financial Shortfall Cover Summary (PDF, opens in new window) - download our key facts summary here
The GAP products have been specially negotiated and arranged through London General Insurance Company Limited. They are authorised and regulated by the Financial Services Authority with FSA registered number of FSA 202689 which can be checked by contacting the FSA via the website at www.fsa.gov.uk (opens in new browser window) or by phoning 0845 606 1234
Lombard North Central Plc is an appointed representative of The Royal Bank of Scotland plc, which is authorised and regulated by the Financial Services Authority.
Details of the Financial Ombudsman and Financial Services Compensation Schemes, which may apply here, are contained within the policy.
For further information please contact us on 0800 502 402.
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