Lease Asset Protection Key Information Document

This information is provided to assist you in making an informed decision when purchasing
Lease Asset Protection. Please take time to read this information carefully.

In line with guidance from The Financial Conduct Authority, we would like to give you the time to consider whether you could benefit from this cover and therefore AutoProtect will not contact you regarding this facility over the next two days.

However, should you have any questions or feel you may be at risk and require cover imminently, due to the collection of your new car, please contact us directly and the cover can commence from tomorrow.


Imagine your vehicle is declared a write-off by your insurer due to an accident, flood, fire or theft. Now imagine discovering that your insurance company settlement will not match the original price. 

You may be left having to pay the difference between the motor insurer’s pay-out and an early settlement payment due to the contract hire or leasing company. Furthermore, how would you find the initial rental for a new contract on a replacement vehicle?

Who will protect you against this financial loss?

For peace of mind and for the protection your vehicle needs, consider the cover Lease Asset Protection can offer.

Lease Asset Protection is an OPTIONAL facility available from AutoProtect. Our advisor will be happy to answer your questions or clarify the policy benefits and exclusions. You should be aware that similar products may be available elsewhere to purchase directly. However, as with any insurance policy, you should confirm that the cover levels of alternative facilities are suitable for your needs.

Due to Financial Conduct Authority regulations, you are unable to purchase this facility until one day has passed, following receipt of the information outlined in this document. We will contact you after 4 days to discuss the facility further, however, should you require more immediate cover, you have the right to conclude purchase from tomorrow by contacting our advisor on 01279 260928.


Lease Asset Protection is designed for people who have a contract hire or lease agreement on their vehicle. If your vehicle is written off, Lease Asset Protection pays the difference between the insurance pay-out made by your insurer and any early settlement payment to the contract hire or operating lease company, up to the purchase price of the vehicle. It will also contribute towards three rental payments on a vehicle under a new agreement. However, there are specific exclusions (please see below).

Policy Duration

Cover is available for varying durations, depending on your requirements and according to the terms of your lease agreement. Cover ends earlier in the event of a paid claim or if the vehicle is
no longer in your possession.



Provides a contribution of up to £250 towards your insurance policy excess.

Claim Limit

Cover up to £50,000 should you write off your vehicle

Contribution to New Lease Agreement

We will also cover you for up to three (3) monthly rental payments to a maximum of £2500 (including VAT) as a contribution towards a replacement vehicle under a new contract hire or lease agreement subject to the provision of a new vehicle contract hire or lease agreement.

Vehicle Accessories Covered

As long as accessories are fitted by the dealer and are manufacturer approved, we will cover up to £1500 of extras. Manufacturer fitted accessories are covered.


If during the first year of cover, the vehicle is written off and you get a replacement vehicle on a “new for old” basis, you can transfer the remaining duration of the policy to your replacement vehicle free of charge. You may then subsequently, at any time, transfer any remaining period of insurance on the policy due to a further change of vehicle, on payment of an administration fee of £35, as long as the replacement vehicle falls within the price range specified in your policy schedule.


If, for any reason, you wish to cancel your policy and you do so within 30 days, and no claim has been registered with AutoProtect during this time, we’ll give you a full refund. After that, you may still cancel at any point, subject to a £35 administration fee. You will receive a pro-rata refund which will reflect the length of the term remaining.

Simple to arrange

When you contact us at AutoProtect, we will be happy to answer any questions you may have and confirm your eligibility for Lease Asset Protection.

Lease Asset Protection insurance is subject to terms and conditions. You should note that there are certain limitations in terms of the maximum amount you may claim.

SIGNIFICANT EXCLUSIONS (What is not covered?)

As with all insurance policies there are some circumstances for which Lease Asset Protection will unfortunately not cover you.


You must have in place a fully comprehensive motor insurance policy issued by an authorised UK motor insurer which insures against accidental loss and or damage to the vehicle throughout the period of insurance.

In the event your motor insurer rejects your claim, and a settlement payment is not made you will not be covered by this policy.

Vehicle Exclusions

We are unable to cover all vehicle types. You will be excluded from the benefits of this policy if:

  • The vehicle is over 7 years old at the start of the policy.
  • The vehicle purchase value is not over £125,000.
  • The vehicle has been modified in any way from the manufacturer’s specification.
  • The vehicle is used for hire or reward, i.e., taxis or courier vehicles. Alternative products may be available from your supplying dealership that can provide cover for these vehicles. Please ask your supplying dealership for further information.
  • The vehicle will be used for a competitive event.
  • The vehicle is heavier than 3,500kg gross weight.
  • The vehicle is listed in the specifically excluded list; some prestige vehicles and sports cars are excluded:

Including, but not limited to, Aston Martin, Bentley, Bristol, Bugatti, Cosworth, De Tomaso, Dorchester, Ferrari, Ginetta, Hummer, Honda NSX models, Lamborghini, Lancia Therma, Lotus, Maserati, Maybach, McLaren, Mitsubishi 3000GT, Marcos, Noble, Rolls Royce, TVR, Vans above 3500kgs GVM and kit cars.

  • Any total loss due to your negligence or deliberate action.
  • Any total loss as a result of an accident where the driver of the vehicle is under the influence of alcohol, drugs not prescribed by a registered medical practitioner, or drugs prescribed by a
    registered medical practitioner where a warning against driving has been given.


Any recoverable Value Added Tax (VAT) where you are VAT registered.

For full benefits and exclusions, please refer to sections titled ‘What is covered?’ and ‘What is not covered?’ of the policy terms and conditions which will be provided on request or before conclusion.

Auto Protect Lease GAP insurance Customer Premium

(Including Insurance Premium Tax at the prevailing rate)

Auto Protect Insurance

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