Login
Monthly Payments Available
- Available on Gap Insurance
- Pay in convenient monthly instalments
Call to find out more
Gap Insurance for Driving School Vehicles
Protect Your Driving School with Combined Return to Invoice Gap Insurance
Running a driving school is a rewarding yet challenging endeavour. Ensuring the safety of your students and the longevity of your business requires careful planning and the right insurance coverage. One crucial aspect of this coverage is Guaranteed Asset Protection (GAP) insurance for your driving school vehicles. Not all insurance suppliers offer this specialised coverage, making it essential to understand its benefits and secure it from a reliable provider like Click4Gap.
What is Gap Insurance?
Gap Insurance is designed to cover the difference between the amount your motor insurer will pay out after a total loss and the purchase value of your vehicle, or the outstanding balance on your vehicle finance agreement.
This doesn’t take into consideration any depreciation however, which can be as much as 60% over the first 3 years.
This gap can leave you with a substantial financial burden, never mind funding the cost of a replacement vehicle.
Why Driving Schools Need GAP Insurance
Driving school vehicles are unique in their usage and risk profile. They are on the road more frequently, often with inexperienced drivers behind the wheel, which increases the likelihood of accidents. Here’s why GAP insurance is particularly important for driving schools:
- High Mileage and Wear: Driving school vehicles accumulate mileage quickly, leading to faster depreciation. GAP insurance ensures that you are not left with a large debt if a vehicle is written off.
- Frequent Use by Learners: The nature of driving instruction means that your vehicles are often driven by learners, who are more prone to accidents. GAP insurance provides peace of mind knowing that you are financially protected in the event of an accident that results in a write off.
- Financial Stability: In the event of a total loss, the financial impact can be significant. GAP insurance helps maintain your financial stability by covering the shortfall between the insurance payout and purchase value, or the remaining balance on the finance agreement.
Not Every Supplier Covers Driving School Vehicles
It’s important to note that not all GAP insurance suppliers offer coverage for driving school vehicles. This specialised coverage requires an understanding of the unique risks associated with these vehicles, as well as the experience and proven track record in covering driving school vehicles.
Benefits of GAP Insurance for Driving Schools
- Comprehensive Financial Protection: Gap Insurance provides a safety net that protects your business from significant financial loss. This coverage ensures that you can replace your vehicles without incurring additional debt.
- Peace of Mind: Knowing that you have comprehensive coverage allows you to focus on running your driving school without the constant worry of potential financial setbacks.
- Enhanced Business Continuity: In the event of a total loss, Click4Gap will help you quickly get back on the road with minimal disruption to your business operations.
Why Choose Click4Gap?
- Experience with Driving Schools: You’ll need a provider with a proven track record in covering driving school vehicles. Our experience will ensure an understanding of the unique risks and requirements of your business.
- Customer Service: Our excellent customer service record will provide you with responsive and knowledgeable assistance that will be delivered promptly in the event of a claim.
- Reputation: Our reputation in the industry and testimonials will give you a gauge of our reliability and service quality.
How Gap Insurance Works
Understanding how Gap Insurance works can help you make an informed decision. Here’s a step-by-step overview:
- Purchase Gap Insurance: Whether you purchase a vehicle outright for your driving school or finance it, you can take out Click4Gap Gap Insurance that will cover your driving school vehicle.
- Total Loss Occurs: If your vehicle is stolen or involved in an accident and deemed a total loss, or it’s stolen and not recovered, your motor insurance will pay out the current market value of the vehicle.
- Claiming the Shortfall: Your Click4Gap cover will make up the difference between your motor insurance payout and the purchase value of your vehicle, or the remaining balance on your finance agreement, ensuring you aren’t left with a financial shortfall.
Real-Life Scenario
Imagine one of your driving school vehicles is stolen or involved in a severe accident and is declared a total loss.
covered by your
motor insurer
Possible shortfall amount,
for your account
If you paid £16,500 cash for your car and a year or so later it’s declared a total loss, after your motor insurance pay-out you could have a shortfall of as much as £5,300. If you have Gap Insurance, this shortfall would be covered in total up to an amount of £75,000, subject to the policy terms, plus up to £1,500 for dealer-fitted accessories and £500 towards your motor insurance excess.
Click4Gap Gap insurance is an essential component of a comprehensive insurance strategy for driving schools. It will provide you with financial protection, peace of mind, and ensure your business continuity in the event of a total loss. Given that not all suppliers offer this cover, you’ll be safe in the knowledge that Click4Gap will be there for you… with the right experience and expertise.
Investing in Gap Insurance is a proactive step towards safeguarding your driving school’s future. Don’t leave your business vulnerable to financial setbacks—secure the right coverage today and drive with confidence.
Alternatively, for more information on Gap Insurance for driving school vehicles call us or send an email. Our team of experts is waiting to help you find the best coverage for your needs.
