Insurance broker / GAP insurance in Germany (for leased and financed cars) / Policy wording archive GAP insurance
Feuersozietät Kfz-Versicherung: the policy wording in full
Die Kaskobedingungen ersetzen bei geleasten Pkw die Differenz zwischen Netto-Leasingrestbetrag und Wiederbeschaffungswert; kreditfinanzierte und sonstige Fahrzeuge sind über eine Leistungserweiterung einschließbar.
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Everything about this policy
What the policy covers: 70 points, each with its clause
Quotes are shortened.
The full German wording of each point is on the German page for Feuersozietät Kfz-Versicherung.
Basics and eligible contracts
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Form of cover (module of the comprehensive policy or stand-alone contract) | yes | „In Ergänzung zu A.2.6.1 ersetzen wir die Differenz zwischen dem (Netto-) …“ | A.2.6 a, page 6 |
| GAP cover included in the comprehensive policy at no extra premium | yes | „In Ergänzung zu A.2.6.1 ersetzen wir die Differenz zwischen dem (Netto-) …“ | A.2.6 a, page 6 |
| Fully comprehensive cover is a precondition | not addressed | ||
| Partial cover is sufficient (theft, fire, natural hazards) | not addressed | ||
| Comprehensive policy must be held with the same insurer or intermediary | yes | „In Ergänzung zu A.2.6.1 ersetzen wir die Differenz zwischen dem (Netto-) …“ | A.2.6 a, page 6 |
| Leased vehicles covered | yes | „In Ergänzung zu A.2.6.1 ersetzen wir die Differenz zwischen dem (Netto-) …“ | A.2.6 a, page 6 |
| Loan financed vehicles covered | yes | „gewähren wir abweichend zu A.2.6.a Versicherungsschutz aus der GAP-Versicherung auch …“ | A.A.4.1, page 8 |
| Financing with balloon payment covered | not addressed | ||
| Cash purchase insurable (purchase price protection without financing) | not addressed | ||
| Eligible vehicle types (cars, motorcycles, motorhomes, vans) | yes | „Die GAP-Versicherung gilt auch für sonstige Leasing- und kreditfinanzierte Fahrzeuge.“ | A.A.4.1, page 8 |
| Used vehicles insurable | not addressed | ||
| Maximum vehicle age at inception | not addressed | ||
| Maximum insurable purchase price or vehicle value | not addressed | ||
| Leased or rented traction battery included | no | „Dies gilt nicht, wenn bei einem Elektrofahrzeug ausschließlich der Akku geleast ist.“ | A.2.6 a, page 6 |
Insured event
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Total loss (destruction) as insured event | yes | „gewähren wir abweichend zu A.2.6.a Versicherungsschutz aus der GAP-Versicherung auch …“ | A.A.4.1, page 8 |
| Constructive total loss (repair costs above replacement value or a fixed percentage) | not addressed | ||
| Theft or loss of the whole vehicle | yes | „gewähren wir abweichend zu A.2.6.a Versicherungsschutz aus der GAP-Versicherung auch …“ | A.A.4.1, page 8 |
| Waiting period after theft before payment | not addressed | ||
| Benefit only if the comprehensive insurer settles the claim | not addressed | ||
| Benefit also when a third party liability insurer pays the total loss | not addressed | ||
| Benefit for repairable damage (no total loss) | not addressed |
Benefit and calculation
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Basis for leasing: settlement value under the lease contract | yes | „Der Leasingrestbetrag ist die Summe aus ausstehenden abgezinsten Leasingraten …“ | A.2.6 a, page 6 |
| Basis for loans: outstanding balance on the date of loss | yes | „Der Kreditrestbetrag ist die Summe aus ausstehenden abgezinsten Kreditraten und …“ | A.A.4.1, page 8 |
| Payment of the difference to replacement value or to the comprehensive settlement | yes, up to the sum insured | „In Ergänzung zu A.2.6.1 ersetzen wir die Differenz zwischen dem (Netto-) …“ | A.2.6 a, page 6 |
| Payment of the difference to purchase or list price (return to invoice, new for old) | not addressed | ||
| Duration of purchase price or new value indemnity | not addressed | ||
| Maximum benefit of the GAP cover | not addressed | ||
| Cap at a percentage of replacement value, purchase price or list price | not addressed | ||
| VAT is reimbursed | not addressed | ||
| Deductible of the comprehensive policy is reimbursed | not addressed | ||
| Separate deductible within the GAP cover | not addressed | ||
| Salvage value is deducted | not addressed | ||
| Initial lease payment or deposit is taken into account | yes, up to the sum insured | „noch nicht verbrauchter Mietvorauszahlung“ | A.2.6 a, page 6 |
| Extra benefit for replacement (registration, delivery, allowance) | not addressed | ||
| Payment made directly to lessor or lender | not addressed |
What reduces the benefit
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Arrears and default interest not covered | yes | „Nicht berücksichtigt werden vor Eintritt des Schadenfalls fällig gewesene, nicht …“ | A.2.6 a, page 6 |
| Excess mileage and wear charges not covered | yes | „Bei Leasingverträgen mit Kilometerabrechnung wird der Leasingrestbetrag um den Aufwand …“ | A.2.6 a, page 6 |
| Early termination and administration fees not covered | not addressed | ||
| Financed extras (insurance premiums, warranty, servicing) not covered | yes | „Das Darlehen muss nachweislich ausschließlich zur Finanzierung des Fahrzeugs …“ | A.A.4.1, page 8 |
| Deduction for unrepaired previous damage | not addressed | ||
| Reductions of the comprehensive settlement not made up | not addressed | ||
| Limited to customary lease or loan terms | yes | „Die Leistung aus der GAP-Versicherung gilt für Leasingverträge auf der Grundlage …“ | A.2.6 a, page 6 |
| Reduction if the comprehensive policy does not pay full replacement value | not addressed |
Exclusions
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Waiver of the gross negligence defence | not addressed | ||
| Intent excluded | not addressed | ||
| Driving under the influence excluded | not addressed | ||
| Unlicensed or unauthorised driver excluded | not addressed | ||
| Racing and track driving excluded | not addressed | ||
| Taxi, hire car, driving school and rental use excluded | not addressed | ||
| Embezzlement and fraud excluded | not addressed | ||
| War, civil unrest and nuclear energy excluded | not addressed | ||
| Subsidiary to other insurance | yes | „A.3.11 gilt entsprechend.“ | A.2.6 a, page 6 |
Duties after a loss
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Deadline for notifying a claim | not addressed | ||
| Documents to submit (lease or loan contract, settlement statement, casco settlement) | yes | „Den Leasingvertrag müssen Sie uns auf Verlangen vorlegen.“ | A.2.6 a, page 6 |
| Police report required after theft | not addressed | ||
| Insurer's consent before disposal or sale of the wreck | not addressed | ||
| Payment period after assessment | not addressed |
Term and contract
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Term linked to the lease or loan contract | not addressed | ||
| Maximum term of the GAP cover | not addressed | ||
| Ends on redemption, end of contract or transfer of ownership | not addressed | ||
| Premium refund on early termination (single premium) | not addressed | ||
| Premium payment (single, financed, ongoing with the casco premium) | not addressed | ||
| Ordinary cancellation of the module or contract | yes | „Die Leistungserweiterungen können unabhängig von der Kraftfahrzeug …“ | A.A.1.2, page 7 |
| Vehicle change or transfer to a successor vehicle | not addressed | ||
| GAP cover continues after a change of comprehensive insurer | not addressed | ||
| Territorial scope (Europe, green card countries) | not addressed |
Spain specifics
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Indemnity at new value (valor a nuevo): years from first registration | not addressed | ||
| Enhanced market value after the new value period (valor venal mejorado) | not addressed | ||
| New value only for the first owner | not addressed | ||
| Clause in favour of the lender (loss payee, retention of title) | not addressed |
Evaluated by NAMMERT from published policy wordings.
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Policy wordings and provider
- Legal entity
- Feuersozietät Berlin Brandenburg Versicherung Aktiengesellschaft
- Distribution
- through tied agents
- Allgemeine Bedingungen für die Kraftfahrtversicherung (AKB), Anlage 3616 Edition: Stand 1. Juli 2021 (Anlage 3616) Original from the insurer (PDF, German)
Full text of the wording
The full text exists only in German.
It is printed on the German page for Feuersozietät Kfz-Versicherung and available as plain text.
Volltext Feuersozietät Kfz-Versicherung GAP-Versicherung · As text (Markdown) Feuersozietät Kfz-Versicherung GAP insurance