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Financial Loss Insurance (GAP)

It covers the difference between the purchase price of a car and the general value paid in the case of total damage from CASCO, or the theft of a motor vehicle. GAP can also reimburse your deductible, by which the insurance premium from emergency insurance was reduced. It is a voluntary insurance (or supplementary insurance) that is intended to provide the client with a return on the means of procuring the vehicle, or to alleviate damage in respect of total damage or to cover financial liabilities to the leasing company. It is standardly negotiated for motor vehicles up to 3.5 tons, exceptionally for vehicles over 3.5 tons as well in select insurance companies.

Terms and conditions for entering into the insurance:

  • a valid motor vehicle registration certificate and a valid registration number
  • insurance may be limited in time - no later than three months after the purchase of the motor vehicle
  • valid CASCO during the entire GAP insurance period
  • common use of the vehicle
  • upon the entrance into insurance - max. age of the motor vehicle 5 years (from the date of its first registration)
  • the purchase price of a motor vehicle must not exceed the maximum limit set by the insurer

The insurance is closed for 3, 4 or 5 years. Territorial validity is the same as with the agreed CASCO - primary insurance. Insurance may be concluded without or with the reimbursement of the deductible payable from CASCO's insurance claim in the case of total damage.