Discussion
Cheib said:
andyglos said:
"Aviiva just offered me it for theee years."
Hi, can you tell me a bit more about this? I obtained an online quote for a new Macan from Aviva last night and it appears to indicate the replacement rules for a new car last for just 12 months (see below). Is the 3 year position something different?
New vehicle replacement
Comprehensive cover Third party, fire & theft Policy limits
Cover included (subject to limit and excesses) Not available for this level of cover n/a
We will replace your vehicle with a new vehicle of the same make, model and specification (if one is available in the UK) if, within 12 months of the main policyholder (principal policyholder), main drivers of each vehicle (eg vehicle policyholder) or a partner buying your vehicle from new:
Any repair cost or damage in respect of any one claim covered by the policy is more than 60% of the vehicle’s UK list price (including vehicle tax and VAT) when your vehicle was purchased, or
Your vehicle is stolen and not recovered.
We will only replace your vehicle if the main policyholder (principal policyholder), main drivers of each vehicle (eg vehicle policyholder) or a partner:
Purchases it under a hire purchase agreement or other type of agreement where ownership passes to the main policyholder (principal policyholder), main drivers of each vehicle (eg vehicle policyholder) or a partner and the Financing Company agree, and
The main policyholder (principal policyholder), main drivers (vehicle policyholders) or a partner becomes the first registered keeper of your vehicle, or the second registered keeper of your vehicle where your vehicle has been pre registered in the name of the manufacturer or supplying dealer, provided at the time of purchase the mileage was less than 250 miles.
Vehicles sold as ‘ex demonstrators’ and ‘nearly new’ do not qualify for replacement under this section.
Sorry I've been away on holiday. Am about to take out the Avila policy this week but I have in writing that this policy does provide three years of cover for a replacement vehicle. Hi, can you tell me a bit more about this? I obtained an online quote for a new Macan from Aviva last night and it appears to indicate the replacement rules for a new car last for just 12 months (see below). Is the 3 year position something different?
New vehicle replacement
Comprehensive cover Third party, fire & theft Policy limits
Cover included (subject to limit and excesses) Not available for this level of cover n/a
We will replace your vehicle with a new vehicle of the same make, model and specification (if one is available in the UK) if, within 12 months of the main policyholder (principal policyholder), main drivers of each vehicle (eg vehicle policyholder) or a partner buying your vehicle from new:
Any repair cost or damage in respect of any one claim covered by the policy is more than 60% of the vehicle’s UK list price (including vehicle tax and VAT) when your vehicle was purchased, or
Your vehicle is stolen and not recovered.
We will only replace your vehicle if the main policyholder (principal policyholder), main drivers of each vehicle (eg vehicle policyholder) or a partner:
Purchases it under a hire purchase agreement or other type of agreement where ownership passes to the main policyholder (principal policyholder), main drivers of each vehicle (eg vehicle policyholder) or a partner and the Financing Company agree, and
The main policyholder (principal policyholder), main drivers (vehicle policyholders) or a partner becomes the first registered keeper of your vehicle, or the second registered keeper of your vehicle where your vehicle has been pre registered in the name of the manufacturer or supplying dealer, provided at the time of purchase the mileage was less than 250 miles.
Vehicles sold as ‘ex demonstrators’ and ‘nearly new’ do not qualify for replacement under this section.
On the 997 GTS it will have an agreed value and on the other two cars as they are either brand new (picking the Cayenne up this weekend) and a year old in the case of the Mini both have "new for old" at Invoiced Cost for three years from the date first registered.
Hope that helps.
Heads up on GAP.......
I went with Saga car insurance for my Cayman......very competitive + includes- if new car & more than 60% damage or stolen, under 2yrs old & 12k mileage, then they will replace vehicle with same or refund FULL Invoice value of car.
Excess is only £150 although you lose this when claiming.
So I've saved a bundle on Gap, so will pay for tyre/Alloy insurance....................anyone got any recommendations ??
I went with Saga car insurance for my Cayman......very competitive + includes- if new car & more than 60% damage or stolen, under 2yrs old & 12k mileage, then they will replace vehicle with same or refund FULL Invoice value of car.
Excess is only £150 although you lose this when claiming.
So I've saved a bundle on Gap, so will pay for tyre/Alloy insurance....................anyone got any recommendations ??
alanshaw said:
Heads up on GAP.......
I went with Saga car insurance for my Cayman......very competitive + includes- if new car & more than 60% damage or stolen, under 2yrs old & 12k mileage, then they will replace vehicle with same or refund FULL Invoice value of car.
Excess is only £150 although you lose this when claiming.
So I've saved a bundle on Gap, so will pay for tyre/Alloy insurance....................anyone got any recommendations ??
Can you give an idea of what you got through Saga?I went with Saga car insurance for my Cayman......very competitive + includes- if new car & more than 60% damage or stolen, under 2yrs old & 12k mileage, then they will replace vehicle with same or refund FULL Invoice value of car.
Excess is only £150 although you lose this when claiming.
So I've saved a bundle on Gap, so will pay for tyre/Alloy insurance....................anyone got any recommendations ??
I went with Admiral, cheapest on the comparison sites;
Fully comp
Protected No-claims (12 years NCB)
Legal Protection
£250 excess voluntary
Gives me an annual premium of around £550, which is pretty good for a London postcode.
But obviously that leaves the GAP. So curious what Saga gives with that coverage as opposed to getting normal and GAP separately.
Tim bo........
If this helps
4. New vehicle benefit If your vehicle is stolen and not recovered or is damaged and the cost of repair will be more than 60% of the manufacturer’s list price (including vehicle tax and VAT) at the time of the loss or damage, we will replace your vehicle with a new vehicle of the same make and model. If a vehicle of the same make and model is not available we will either: n replace your vehicle with a new vehicle of the same make and the nearest equivalent specification and value model; or n pay you the last manufacturer’s list price for your vehicle. If you request a cash settlement, and we agree, we will not pay more than the amount we would have paid if we had replaced your vehicle. We will only replace your vehicle if you and any other known interested parties agree. The vehicle being replaced will become our property.
Not included...........
Your vehicle if: n it is more than 24 months old from the date of first registration; or n you are not the first registered keeper; or n the vehicle mileage is more than 12,000. The 12,000 mile restriction does not apply to a loss within 12 months of your vehicle’s first registration.
If this helps
4. New vehicle benefit If your vehicle is stolen and not recovered or is damaged and the cost of repair will be more than 60% of the manufacturer’s list price (including vehicle tax and VAT) at the time of the loss or damage, we will replace your vehicle with a new vehicle of the same make and model. If a vehicle of the same make and model is not available we will either: n replace your vehicle with a new vehicle of the same make and the nearest equivalent specification and value model; or n pay you the last manufacturer’s list price for your vehicle. If you request a cash settlement, and we agree, we will not pay more than the amount we would have paid if we had replaced your vehicle. We will only replace your vehicle if you and any other known interested parties agree. The vehicle being replaced will become our property.
Not included...........
Your vehicle if: n it is more than 24 months old from the date of first registration; or n you are not the first registered keeper; or n the vehicle mileage is more than 12,000. The 12,000 mile restriction does not apply to a loss within 12 months of your vehicle’s first registration.
Hmmm ... been doing quite a bit of reading of general car insurance policies and Gap, and I'm at a bit of a loss.
Gap covers the difference from market value (what a general insurer will cover you up to) and invoice value.
I have a question about 'Market value'. Since Caymans (and Boxsters?) seem to rise in market value from purchase, where is the actual Gap?
If I purchase my car new at £60k in 2017, and have a total write-off a year later in 2018 when the market value is say £65k, then a general insurer, who has covered me to market value, should pay out AT LEAST £60k, since market value is greater than new ... ?
I can understand needing Gap insurance for most cars which depreciate rapidly. My M235i was worth a good £10k-£12k less than value at new 1 year into ownership, so the need for Gap cover there is clear.
So that leaves me confused with needing Gap insurance for rare, more exotic cars like the Caysters which generally rise or at least keep value in the market? There is no gap that I can see.
Or, given the well-known reticence and quibbliness (?!) of general insurers to actually pay out a decent sum for a car at total write-off, is their version of 'market value' considerably different to actual 'market value' - ie what you could get for selling the car 2nd hand on the open market ...
Gap covers the difference from market value (what a general insurer will cover you up to) and invoice value.
I have a question about 'Market value'. Since Caymans (and Boxsters?) seem to rise in market value from purchase, where is the actual Gap?
If I purchase my car new at £60k in 2017, and have a total write-off a year later in 2018 when the market value is say £65k, then a general insurer, who has covered me to market value, should pay out AT LEAST £60k, since market value is greater than new ... ?
I can understand needing Gap insurance for most cars which depreciate rapidly. My M235i was worth a good £10k-£12k less than value at new 1 year into ownership, so the need for Gap cover there is clear.
So that leaves me confused with needing Gap insurance for rare, more exotic cars like the Caysters which generally rise or at least keep value in the market? There is no gap that I can see.
Or, given the well-known reticence and quibbliness (?!) of general insurers to actually pay out a decent sum for a car at total write-off, is their version of 'market value' considerably different to actual 'market value' - ie what you could get for selling the car 2nd hand on the open market ...
Edited by Tim bo on Thursday 23 March 11:10
ALA Gap Insurance purchased.
Checking Glass's Guide (now Autotrader valuation), which seems to be the automotive valuation standard used by the industry, my 718CS is now 'worth' considerably less than two thirds of its invoice price, after 5 days of ownership from new.
Even though if I were to sell my car privately on the open market, I'd get at least purchase price back, likely slightly more.
So 'market value' is a term applied very, very loosely.
'Industry' Market value is circa. £25,000 less than 'Actual' Market value in my case, for a brand new car.
So Gap insurance is absolutely necessary it seems.
Checking Glass's Guide (now Autotrader valuation), which seems to be the automotive valuation standard used by the industry, my 718CS is now 'worth' considerably less than two thirds of its invoice price, after 5 days of ownership from new.
Even though if I were to sell my car privately on the open market, I'd get at least purchase price back, likely slightly more.
So 'market value' is a term applied very, very loosely.
'Industry' Market value is circa. £25,000 less than 'Actual' Market value in my case, for a brand new car.
So Gap insurance is absolutely necessary it seems.
Edited by Tim bo on Saturday 25th March 09:40
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