Can somebody clarify for me the following?
My daughter has a Hyundai car that she has on one of those private lease arrangements, whereby she paid a deposit and then pays a monthly payment, then at the end of the term she either pays an agreed figure and keeps the car, or trades it in with a guaranteed future value, and uses that as her deposit for a new car.

I am guessing she is the registered keeper as she is named on the V5, but who is the owner for insurance purposes - her or the lease company?
Thank you.

You need to read the lease agreement to be sure, but normally the finance company is the owner. Some require to be named on the policy. She should have told the insurance company that it was leased when she insured it. If car is on lease or finance the insurance will normally pay them, not you.

HTH,
Robert G8RPI.

Ok thanks for the advice

In the event of a total loss insurance will pay out market value.

If the finance / lease early settlement sum is less than market value then insurance will clear finance (and providing its not lease) will send the rest to the insured (less the excess). If market value is less than the early settlement firgure then this is where GAP insurance covers the shortfall. Insurance co will pay finance house market value less the excess and the hirer / GAP insurer then has the cover the shortfall.