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Money does not grow on trees so why should you spend more?

What is Deposit protection, and why should you consider upgrading your standard contact hire gap insurance to this level of cover?

We are not here to help you spend your money. We all work too long and too hard for that. However, if you have recently taken a vehicle on lease or contract hire, then chances are you will of been asked for some form of an advanced rental.

So what happens to this initial rental if and when your car is written off? Will simply walking away from your old vehicle with no further financial responsibility solve the issue?

Contract Hire and Deposit Protection

When you commit to a lease or contract hire car, you are often asked to pay an initial rental.

This is often a multiple of your standard monthly rental, for example; 3 payments in advance or even 6. It is not uncommon to put up to 9 payments in advance and sometimes even more. Suppose your monthly rental is a modest £300 a month that could be up to £1800 for just 6 payments in advance. So while having standard contract hire gap insurance means you can walk away from your old car with no further financial liability, you also walk away with nothing. This could mean having to find another initial rental at short notice. 

Contract and Lease Hire Gap Insurance has all the benefits of standard cover but also reimburses you your initial rental as shown on your invoice up to the maximum of £2000. 

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