Leasing: Bridging the Financial Gap
Ensure comprehensive protection with our digital GAP coverage and enjoy your leased vehicle worry-free – simple, transparent and at fair conditions.
Reliably closes financial gaps
Total Loss Protection
Security in Case of Theft
What is a lease GAP insurance and how does it work?
Covers Difference to Buyout Value
Claims for cascade benefits
Designed for lease vehicles
Protects against high additional payments
Why is GAP insurance essential for leasing?
When leasing a vehicle, especially a new or nearly new used car, a significant financial gap can arise in the event of a total loss or theft. Typically, your comprehensive insurance will only reimburse the replacement value of the vehicle at the time of the damage. However, the residual value stipulated in the leasing contract, which the leasing company demands, often significantly exceeds this amount. This difference must be covered out of your own pocket as the lessee. A GAP insurance specifically closes this risky gap. It prevents you from having to pay large sums for a non-existent vehicle and thus protects you from unforeseen financial burdens. Especially in leasing contracts with low installments and long durations or without a down payment, the risk of a large difference is particularly high. With GAP coverage from nextsure, you invest in your financial security and carefree mobility.
Your Benefits
Why nextsure Leasing-GAP?
Closing the gap
Complete assumption of the difference to the leasing residual value.
Total loss
Financial protection in the event of an accident resulting in an economic total loss.
Theft protection
Coverage even in the event of loss of your leased vehicle due to theft.
Online Degree
Quick, easy and convenient to complete digitally.
Fair Premium
Transparent costs and excellent value for money.
Quick Help
Efficient and straightforward claims handling in the event of damage.
Clear Conditions
Understandable contract details without hidden clauses for your safety.
Expert Consultation
Expert support from our insurance specialists for all inquiries.
Top Protection
Comprehensive coverage for worry-free leasing pleasure with nextsure.
Digital, Safe, Fair
Optimally protected
Calculate your GAP contribution now!
For whom is Lease GAP insurance particularly recommended?
Essentially, a leasing GAP insurance is a sensible protection for every lessee. It is particularly recommended if you're leasing a new vehicle or a high-quality young used vehicle, as the depreciation is highest in the first few years and thus the potential gap to the calculated residual value of the leasing contract can be particularly large. Even if your leasing contract stipulates no or only a small down payment, the risk of a financial difference in the event of damage increases. Drivers of vehicles with high annual mileage also benefit, as this accelerates depreciation. Families who rely on their vehicles, as well as digitally savvy customers like "Digital Anna" or "Freelancer Tom", seeking straightforward and reliable coverage, will find the leasing GAP insurance from nextsure the ideal solution to protect themselves from unexpected costs and ensure financial predictability.
The Difference: Lease GAP Insurance vs. Comprehensive Car Insurance
Many lessees mistakenly believe that their comprehensive car insurance already provides sufficient protection against all eventualities. While comprehensive insurance is essential and covers damage to your own vehicle, including self-inflicted damage, as well as theft, it usually only reimburses the replacement value of the vehicle at the time of the damage. Leasing GAP insurance, on the other hand, is an additional insurance specifically tailored to the needs of lessees. It comes into play precisely when the replacement value reimbursed by the comprehensive insurance is lower than the residual value (redemption value) of the vehicle agreed in the leasing contract. GAP coverage thus bridges the gap between these two amounts. It is therefore not an alternative but an important supplement to comprehensive insurance to protect you from significant financial claims from the lessor in the event of a total loss or theft of your leased vehicle.
Calculation of GAP Coverage: A Practical Example
The calculation of the coverage sum for a leasing GAP insurance is transparent and comprehensible. Imagine the contractual residual value (payoff value) of your vehicle in the leasing agreement is 20,000 euros at the time of a total loss. However, your comprehensive insurance determines a replacement value of only 16,000 euros and pays out this amount. Without GAP insurance, you would have to pay the 4,000 euro difference to the leasing company yourself. With GAP insurance from nextsure, this gap is closed. The insurance covers the 4,000 euros, ensuring you incur no additional costs. Factors influencing the potential GAP amount include the leasing duration, the agreed mileage, any possible down payment, and the projected depreciation of the specific vehicle model. Our experts at nextsure are happy to advise you to determine the optimal coverage for you.
These are the services offered by your nextsure Leasing GAP insurance
The leasing GAP insurance from nextsure offers you comprehensive protection and numerous benefits to effortlessly cover the financial gap in the event of a total loss or theft of your leased vehicle. Our core services include covering the difference between the replacement value regulated by the car insurance and the higher redemption value according to the lease agreement. We cover both total losses due to accidents and loss due to theft. Benefit from fast and straightforward claims processing through our digitised processes. Our rates are transparently and fairly calculated, with no hidden costs. As a digital insurance portal, we enable you to easily complete contracts online and manage your policy directly. nextsure values clear terms and expert advice, so you know exactly what benefits you can expect. Protect yourself against unpleasant surprises and enjoy your mobility with the confidence of being optimally protected.
Car insurance
The ideal complement
Legal protection
Safe on the road
Passenger accident
Additional Protection
Requirements for Taking Out a GAP Insurance
To obtain a leasing GAP insurance with nextsure, certain basic requirements must be met. Firstly, you need a valid leasing contract for the vehicle to be insured. The vehicle must also have existing motor third-party liability and comprehensive insurance, as the GAP insurance builds on these coverages. Typically, GAP coverage is available for passenger cars and sometimes for light commercial vehicles that are leased for private or predominantly private use. Certain types of vehicles or uses (e.g. commercial freight transport, taxis) may be excluded. There is often a deadline after the leasing contract is signed within which the GAP insurance must be taken out. Please refer to our detailed insurance terms for the exact acceptance criteria, such as maximum vehicle age at the start of the contract or maximum insurance sums, or contact our advisory team for an individual assessment of your situation.
In the event of damage: How to act correctly in the case of total loss or theft
In the unfortunate event of a total loss or theft of your leased vehicle, it is important to proceed in a structured way to ensure smooth processing with your comprehensive insurance and leasing GAP insurance. Report the damage immediately to your car insurance (comprehensive) and the police (especially in the case of theft or accidents with personal injury). At the same time, promptly inform your leasing provider of the incident. Once your comprehensive insurance has determined the replacement value and established the compensation amount, and the leasing provider has quantified the outstanding redemption value, submit all relevant documents (damage report, police report, insurance settlement, leasing provider's demand) to your leasing GAP insurance. Nextsure will then review the claims and, upon approval, pay the difference amount directly to the leasing provider or to you, according to the contract terms. Our digital claims process is designed to provide you with fast and straightforward support.
Tips: Select the Right Leasing GAP Insurance
When selecting the right leasing GAP insurance, there are several important aspects to consider to ensure optimal protection under fair conditions. Don’t just compare prices, but pay particular attention to the insurance conditions and the scope of coverage. Check the extent to which the difference is covered and whether there are any deductibles. Verify if the insurance covers gross negligence (there are differences between providers in this regard). Find out about the term of the GAP insurance – ideally, it should cover the entire lease duration. Clarify which vehicle types can be insured and whether there are any exclusions. A good indicator of the provider's quality is also a transparent and simple closing process as well as accessible and competent customer service. nextsure offers you not only SEO-optimized information as a digital insurance portal but also a clear overview of our services and an uncomplicated online conclusion for your leasing GAP insurance.
What exactly is the "GAP" in leasing?
Completing your leasing GAP insurance with nextsure is particularly easy, fast, and convenient thanks to our fully digitalised processes. As a modern insurtech company, we have made it our mission to offer you customised insurance solutions with maximum convenience. Simply visit our website and navigate to the product page for leasing GAP insurance. There, you will find all the relevant information, performance overviews, and tariff details. With our intuitive online calculator, you can determine your individual contribution in just a few steps. Simply enter the required data about your leasing contract and vehicle. If the offer fits, you can fill out and submit the application directly online. You will receive the contract documents digitally. Benefit from our expert advice, which is available to assist you with any questions, and the assurance that you have chosen a reliable partner for your niche insurances. Protect yourself today with nextsure from the financial risks of a leased vehicle loss.
