I assume it's standard. Later tonight or tomorrow I will find my lease document and let you know which section addresses gap insurance. Then when you're presented with a lease to sign, you can check to make sure it's included.
Sections 25 A and B of the KIA Finance Washington/Idaho Motor Vehicle Lease Agreement read as follows:
A. TOTAL LOSS OR DESTRUCTION OF VEHICLE. If the Vehicle is lost, stolen, destroyed or damaged beyond repair (collectively a "Total Loss"), this Lease will terminate and you will owe the Early Termination Liability as outlined in
Section 22C, including the Total Loss Early Termination Charge defined in Section 22C(i)(c).
B. GAP WAIVER. Except as otherwise provided, if the Vehicle is a Total Loss and you maintained the insurance required by this Lease, we will waive the Total Loss Early Termination Charge set forth in Section 22C(i)(c) when we receive your insurance proceeds for the Vehicle's actual cash value. You must report the Total Loss to us promptly, pay your insurance deductible and comply with all other terms of this Lease. There is
no charge to you for this waiver. Exceptions:
This waiver does not apply if:
(1) The Vehicle was stolen and no police report was filed;
(2) The Total Loss occurred while the Vehicle was not within the United States of America, its territories or possessions, or Canada, regardless of whether we consented;
(3) The Total Loss resulted from your intentional misrepresentation, wrongful act or omission, or gross negligence;
(4) There is a Default under this Lease which caused or contributed to the Total Loss; or
(5) You fail to timely provide us or our designee with any information or documents reasonably requested in connection with the Total Loss, including a police report and insurance information.
