Van leasing with insurance – the basics

At Leasing Options, not only do we provide expert advice on choosing from one of the widest selections of modern vans available anywhere, but we also ensure you have comprehensive support. That’s why we offer insured-van leasing with our Just Fuel It package.

Insurance is a requirement that every driver will have to consider when taking out a business-van lease. You will have to take out a comprehensive insurance policy; this will provide cover for third party, theft, vandalism, accidental damage and fire and damage to your vehicle as well. 

It may also be recommended that you take out an additional policy called Guaranteed Asset Protection (GAP) insurance. This provides full coverage should the van be written off or stolen while still on lease. It ensures the difference in cost between the current market value and the vehicle funder’s valuation is completely covered.

What does insured-van leasing cover?

Our Just Fuel It package offers an insured van, along with maintenance, breakdown cover and tax, so you get everything you need all under one roof. While also ensuring you are financially covered should you experience an accident, our package also comes with a £500 damage waiver at the end of the contract.

In addition, by using the Just Fuel It option, you don’t have to search around for insurance quotes. This means you are covered for fire, passengers and their belongings, as well as vandalism and theft.

What happens if I’m in an accident?

The Just Fuel It package has also got you covered should you be involved in an accident. This can be done by calling the Driver Helpline, on 0370 664 499, this line is open 24/7.

As soon as you get in touch to report the incident, the team will get to work to get you and your van back on the road as soon as possible. We have become known for our fast response times that are quicker than the industry standard, ensuring your needs are seen to quickly and effectively.

What happens if my van is written off?

Should you be unfortunate enough to be involved an accident and the van is written off, your finance company will assess the cost to repair the vehicle. If they come to the conclusion that the repair costs are not reasonable enough to be covered, the contract will be cancelled.

If you are believed to be ‘at fault’ for the van being written off, you will have to pay the relevant CIC. This stands for Customer Incident Charge, which is related to any accidents that occur while you are leasing the van. How much the CIC will be, depends on how many ‘at fault’ incidents you have accrued during the contract. The finance company will then use the CIC to pay for the costs involved with the incident.

What happens if my van is stolen?

If your van is stolen, you must contact the police as soon you are aware to get a Crime Reference Number (CRN). Within 24 hours of the van being stolen, you must also get in contact with the Driver Helpline, to inform them of the situation and provide the CRN.

At this point, we have to wait and monitor the progress of the police investigation. After a period of 21 days, if the vehicle hasn’t been found, or it has been located but is unrepairable, the business van lease will be cancelled. This also means you will no longer be required to make the monthly payments and you will receive a CIC (see above).

After your finance company has conducted an investigation into the incident, if they believe the loss of the vehicle was due to negligence on your part, we will charge you the full termination costs. An example of negligence would be if the doors to the van were left unlocked. After a further 21 days, if we have recovered the vehicle and have been able to sell it, you will be credited up to the value of the costs you were asked to pay.