Insurance broker / GAP insurance in Germany (for leased and financed cars) / Policy wording archive GAP insurance
Mecklenburgische Kfz-Versicherung: the policy wording in full
GAP-Deckung als zusätzlicher Baustein zur Vollkasko für geleaste und finanzierte Fahrzeuge, bei Finanzierung begrenzt auf 20 Prozent des Wiederbeschaffungswertes.
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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 Mecklenburgische Kfz-Versicherung.
Basics and eligible contracts
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Form of cover (module of the comprehensive policy or stand-alone contract) | yes | „Die GAP-Deckung kann als zusätzlicher Deckungsbaustein zur Ergänzung der …“ | A.6.1, page 15 |
| GAP cover included in the comprehensive policy at no extra premium | no | „Die GAP-Deckung kann als zusätzlicher Deckungsbaustein zur Ergänzung der …“ | A.6.1, page 15 |
| Fully comprehensive cover is a precondition | yes | „Die GAP-Deckung kann als zusätzlicher Deckungsbaustein zur Ergänzung der …“ | A.6.1, page 15 |
| Partial cover is sufficient (theft, fire, natural hazards) | no | „Die GAP-Deckung kann als zusätzlicher Deckungsbaustein zur Ergänzung der …“ | A.6.1, page 15 |
| Comprehensive policy must be held with the same insurer or intermediary | yes | „Die GAP-Deckung endet gleichzeitig mit Beendigung des zugrundeliegenden Vertrags zur …“ | A.6.1, page 15 |
| Leased vehicles covered | yes | „Wird die GAP-Deckung vereinbart, ersetzen wir bei wirtschaftlichem Totalschaden oder …“ | A.6.2, page 15 |
| Loan financed vehicles covered | yes | „Finanzierungsvertrags den offen stehenden Finanzierungsrestbetrag (maximal 20 % des …“ | A.6.2, page 15 |
| Financing with balloon payment covered | yes | „Der Leasingrestbetrag ist die Summe aus ausstehenden abgezinsten Leasingraten …“ | A.6.2, 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 | no | „Dies gilt nicht wenn bei einem Elektro- oder Hybridfahrzeug ausschließlich der …“ | A.6.2, page 15 |
Insured event
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Total loss (destruction) as insured event | yes | „Wird die GAP-Deckung vereinbart, ersetzen wir bei wirtschaftlichem Totalschaden oder …“ | A.6.2, page 15 |
| Constructive total loss (repair costs above replacement value or a fixed percentage) | yes | „Wird die GAP-Deckung vereinbart, ersetzen wir bei wirtschaftlichem Totalschaden oder …“ | A.6.2, page 15 |
| Theft or loss of the whole vehicle | yes | „Wird die GAP-Deckung vereinbart, ersetzen wir bei wirtschaftlichem Totalschaden oder …“ | A.6.2, page 15 |
| 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.6.2, 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 Leasingrestbetrag ist die Summe aus ausstehenden abgezinsten Leasingraten …“ | A.6.2, page 15 |
| Basis for loans: outstanding balance on the date of loss | yes | „Der Finanzierungsrestbetrag ist der Betrag, der bei vorzeitiger schadenbedingter …“ | A.6.2, page 15 |
| Payment of the difference to replacement value or to the comprehensive settlement | yes, up to the sum insured | „jeweils abzüglich der Entschädigungsleistung, der bei Ihnen oder beim …“ | A.6.2, page 15 |
| 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 | yes, up to the sum insured | „Finanzierungsvertrags den offen stehenden Finanzierungsrestbetrag (maximal 20 % des …“ | A.6.2, page 15 |
| Cap at a percentage of replacement value, purchase price or list price | yes | „Finanzierungsvertrags den offen stehenden Finanzierungsrestbetrag (maximal 20 % des …“ | A.6.2, page 15 |
| VAT is reimbursed | not addressed | ||
| Deductible of the comprehensive policy is reimbursed | no | „jeweils abzüglich der Entschädigungsleistung, der bei Ihnen oder beim …“ | A.6.2, page 15 |
| Separate deductible within the GAP cover | not addressed | ||
| Salvage value is deducted | yes | „jeweils abzüglich der Entschädigungsleistung, der bei Ihnen oder beim …“ | A.6.2, page 15 |
| Initial lease payment or deposit is taken into account | yes, up to the sum insured | „Der Leasingrestbetrag ist die Summe aus ausstehenden abgezinsten Leasingraten …“ | A.6.2, 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 | „Nicht berücksichtigt werden vor Eintritt des Schadenfalles fällig gewesene, nicht …“ | A.6.2, page 15 |
| Excess mileage and wear charges not covered | yes | „Bei Leasingverträgen mit Kilometerabrechnung wird der Leasingrestbetrag um den Aufwand …“ | A.6.2, page 15 |
| Early termination and administration fees not covered | not addressed | ||
| Financed extras (insurance premiums, warranty, servicing) not covered | yes | „Bei Finanzierungsverträgen muss uns nachgewiesen werden, dass das Darlehen …“ | A.6.2, 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 | yes | „Die Leistung aus der GAP-Deckung gilt für Leasing-/Finanzierungsverträge auf der …“ | A.6.2, page 15 |
| 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.6.2, 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 | „Der Leasing-/Finanzierungsvertrag ist uns auf Verlangen vorzulegen.“ | A.6.2, 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 | yes | „Wird die GAP-Deckung vereinbart, ersetzen wir bei wirtschaftlichem Totalschaden oder …“ | A.6.2, page 15 |
| Maximum term of the GAP cover | not addressed | ||
| Ends on redemption, end of contract or transfer of ownership | yes | „Die GAP-Deckung endet gleichzeitig mit Beendigung des zugrundeliegenden Vertrags zur …“ | A.6.1, page 15 |
| 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
- Mecklenburgische Versicherungs-Gesellschaft auf Gegenseitigkeit
- Distribution
- brokers and direct
- Vertragsinformationen zur Kfz-Versicherung (mit AKB ab Seite 7) Edition: Vertragsinformationen Version 71-KRI-1026 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 Mecklenburgische Kfz-Versicherung and available as plain text.
Volltext Mecklenburgische Kfz-Versicherung GAP-Versicherung · As text (Markdown) Mecklenburgische Kfz-Versicherung GAP insurance