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LVM Autoversicherung: the policy wording in full
GAP-Versicherung als Ergänzungskasko zur Vollkasko für geleaste und kreditfinanzierte Fahrzeuge, begrenzt auf 20 Prozent des Neupreises (Leasing) oder des Wiederbeschaffungswertes (Kredit).
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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 LVM Autoversicherung.
Basics and eligible contracts
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Form of cover (module of the comprehensive policy or stand-alone contract) | yes | „Was zahlen wir in der GAP-Versicherung (Ergänzungskasko für geleaste oder …“ | A.2.5.2, page 14 |
| GAP cover included in the comprehensive policy at no extra premium | yes | „Bei Zerstörung, Verlust oder Totalschaden eines geleasten Fahrzeugs ersetzen wir bei …“ | A.2.5.2.1, page 14 |
| Fully comprehensive cover is a precondition | yes | „Bei Zerstörung, Verlust oder Totalschaden eines geleasten Fahrzeugs ersetzen wir bei …“ | A.2.5.2.1, page 14 |
| Partial cover is sufficient (theft, fire, natural hazards) | no | „Bei Zerstörung, Verlust oder Totalschaden eines geleasten Fahrzeugs ersetzen wir bei …“ | A.2.5.2.1, page 14 |
| Comprehensive policy must be held with the same insurer or intermediary | yes | „Bei Zerstörung, Verlust oder Totalschaden eines geleasten Fahrzeugs ersetzen wir bei …“ | A.2.5.2.1, page 14 |
| Leased vehicles covered | yes | „Bei Zerstörung, Verlust oder Totalschaden eines geleasten Fahrzeugs ersetzen wir bei …“ | A.2.5.2.1, page 14 |
| Loan financed vehicles covered | yes | „Bei Zerstörung, Verlust oder Totalschaden Ihres nachweislich durch ein Darlehen eines …“ | A.2.5.2.2, page 15 |
| Financing with balloon payment covered | yes | „Der Leasing-Restbetrag ist die Summe aus den noch ausstehenden abgezinsten …“ | A.2.5.2.1, page 15 |
| Cash purchase insurable (purchase price protection without financing) | not addressed | ||
| Eligible vehicle types (cars, motorcycles, motorhomes, vans) | not addressed | ||
| 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 | not addressed |
Insured event
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Total loss (destruction) as insured event | yes | „Bei Zerstörung, Verlust oder Totalschaden eines geleasten Fahrzeugs ersetzen wir bei …“ | A.2.5.2.1, page 14 |
| Constructive total loss (repair costs above replacement value or a fixed percentage) | not addressed | ||
| Theft or loss of the whole vehicle | yes | „Bei Zerstörung, Verlust oder Totalschaden eines geleasten Fahrzeugs ersetzen wir bei …“ | A.2.5.2.1, page 14 |
| 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 | no | „Soweit im Schadenfall ein Dritter dem Leasinggeber oder Ihnen gegenüber auf Grund eines …“ | A.2.5.2.1, page 15 |
| 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 Leasing-Restbetrag ist die Summe aus den noch ausstehenden abgezinsten …“ | A.2.5.2.1, page 15 |
| Basis for loans: outstanding balance on the date of loss | yes | „Der Darlehens-Restbetrag ist der Betrag, der ausschließlich für das hier versicherte …“ | A.2.5.2.2, page 15 |
| Payment of the difference to replacement value or to the comprehensive settlement | yes, up to the sum insured | „Bei Zerstörung, Verlust oder Totalschaden eines geleasten Fahrzeugs ersetzen wir bei …“ | A.2.5.2.1, page 14 |
| Payment of the difference to purchase or list price (return to invoice, new for old) | yes, up to the sum insured | „Eine für das gleiche Schadenereignis zu zahlende Kaufwertentschädigung nach A.2.5.1.3 …“ | A.2.5.2.2, page 15 |
| Duration of purchase price or new value indemnity | not addressed | ||
| Maximum benefit of the GAP cover | yes, up to the sum insured | „Leistungsgrenze für die Entschädigung aus der Vollkaskoversicherung einschließlich …“ | A.2.5.2.2, page 15 |
| Cap at a percentage of replacement value, purchase price or list price | yes | „die Leistung für die GAP-Versicherung ist begrenzt auf 20 % dieses Wertes.“ | A.2.5.2.1, page 15 |
| 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 | „Der Leasing-Restbetrag ist die Summe aus den noch ausstehenden abgezinsten …“ | A.2.5.2.1, page 15 |
| 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 | „Bereits vor Schadeneintritt fällig gewesene Leasingraten, die nicht gezahlt worden …“ | A.2.5.2.1, page 15 |
| Excess mileage and wear charges not covered | yes | „Nachforderungen des Leasinggebers bei Leasingverträgen mit Kilometerabrechnung, die …“ | A.2.5.2.1, page 15 |
| Early termination and administration fees not covered | not addressed | ||
| Financed extras (insurance premiums, warranty, servicing) not covered | yes | „Full-Service-Segmente wie z. B. Wartung, Verschleißreparaturen, Reifen usw. fallen …“ | A.2.5.2.1, page 15 |
| Deduction for unrepaired previous damage | not addressed | ||
| Reductions of the comprehensive settlement not made up | not addressed | ||
| Limited to customary lease or loan terms | not addressed | ||
| 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 | „Soweit im Schadenfall ein Dritter dem Leasinggeber oder Ihnen gegenüber auf Grund eines …“ | A.2.5.2.1, page 15 |
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 | „Im Schadenfall haben Sie uns folgende Unterlagen einzureichen: a) den Leasingvertrag b) …“ | A.2.5.2.1, page 15 |
| 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 | not addressed | ||
| 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.
Despite care, a value may be misread;
legally only the wording of your own contract in the edition stated there applies.
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Policy wordings and provider
- Legal entity
- LVM Landwirtschaftlicher Versicherungsverein Münster a.G.
- Distribution
- through tied agents
- Vertragsgrundlagen und weitere Informationen Kraftfahrtversicherung mit AKB Edition: Vertragsgrundlagen Kraftfahrtversicherung mit AKB, laut Liste Stand 1. April 2025 (K 050) 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 LVM Autoversicherung and available as plain text.
Volltext LVM Autoversicherung GAP-Versicherung · As text (Markdown) LVM Autoversicherung GAP insurance