Car Lease GAP insurance is available for vehicles arrangement only and is available to companies and private individuals. Leased cars insured up to 5 years old for a maximum period of 5 years – effectively meaning the car could be 10 years old on on completion of its lease period. Car Lease GAP insurance is available for the period of cover you require, you may have already leased the car for 9 months into a 4 year lease you would only pay for the remaining cover. If the car is written off during the lease agreement, you will be personally liable for any financial losses remaining if the lease finance company require more than your car insurer is willing to pay in settlement.