MotorEasy revolutionises GAP cover for leased vehicles

The vehicle ownership and management solution has also extended its portfolio of branded or white-labelled partner solutions

Posted on Jun 02, 2025

Reinforcing its commitment to providing comprehensive financial protection for drivers, leading vehicle ownership and management solution, MotorEasy, has launched a new Guaranteed Asset Protection (GAP) product for leased vehicles. MotorEasy Lease GAP Insurance is a comprehensive product designed to provide lease customers with crucial financial protection in the event of their leased vehicle being declared a total loss and the insurance payout does not cover the remaining balance due.

Alongside the existing Return to Value (RTV) and Return to Invoice (RTI) products, Lease GAP ensures drivers are protected from financial loss however they purchase their vehicles. Select Car Leasing, a leading provider of car leasing solutions, is the first MotorEasy partner to offer the product to its customers.

“The FCA GAP insurance investigation forced providers to think carefully how they could better tailor their GAP solution to reflect how the customer purchased their vehicle,” commented Duncan McClure Fisher, CEO of MotorEasy’s parent company, Intelligent Motoring. “This new product enabled us to fine tune our risk and pricing matrix, delivering a more competitive solution that can cover initial rentals and outstanding lease payments, as well as provide the added benefit of excess protection.”

In a market where vehicle depreciation can significantly impact financial stability, MotorEasy Lease GAP provides unparalleled financial security for lease customers. Designed to cover the financial shortfall in the event of a total loss, this product goes above and beyond standard GAP insurance offerings.

Key features of the enhanced Lease GAP insurance:

• Generous Coverage: Covers up to £15,000, ensuring substantial financial protection.
• Initial Rental Coverage: Includes up to £3,000 to cover the initial rental (deposit), a crucial benefit for lease customers.
• Excess Coverage: Provides up to £500 towards the main insurer’s excess, reducing out-of-pocket expenses.
• Lease-Specific Protection: Tailored to address the unique financial aspects of lease agreements, ensuring comprehensive coverage of outstanding balances.

Complementing MotorEasy Lease GAP, Return to Invoice (RTI) and Return to Value (RTV) provide cover for vehicles purchased on Hire Purchase, Personal Contract Purchase, cash or finance. RTI is for vehicles less than six months old, and covers the shortfall between the insurer’s payout and the vehicle’s original invoice price, while RTV is for vehicles of more than six months old and the payment is based on the vehicle’s market value at the time the policy was taken out.

Duncan McClure Fisher continued: “Our enhanced Lease GAP insurance, along with our RTI and RTV products, provide a comprehensive safety net, ensuring drivers are protected from unexpected financial losses. And leasing companies, retailers, finance houses and motoring organisations can extend their customer proposition by offering our solution, either branded in partnership with MotorEasy or white labelled in their name.

“We provide flexible options on commissions or margin settings as well as opportunities to earn follow-on business through other products, for example, receiving an additional bounty payment from a Lease GAP Insurance customer who goes on to purchase an Alloy Wheel or Cosmetic Insurance policy. We are committed to providing innovative solutions that ease the bottom line for our partners and bring peace of mind and financial security to motorists.”