GAP Insurance

[alanshaw]

Quote from OPC £899/3yrs back to invoice.......unlimited cover
On line quote an other £333/3yrs back to invoice......35k cover
Tyres /3yr £420
Alloy wheel/3yr £ 210

Interesting ......spoke to OPC who advised why diff in price.......If you claim an other they will deduct cost of tyres, alloys, scratch/dent, unless you have taken these out @ time of GAP, also you will need an indemnity ins. against online co. going bust !
Also if car is sold in 2yrs you will get 1yr back, & if you do claim you will get your w/off, loss excess back (£750) thru OPC
So if you compare like for like quotes - an other works slightly dearer!!..........or have I been told a version to sell me the OPC Ins ??

Has anyone had any experience of internet co's going bust, or trouble with claims ?

[Porsche911R]

Why do you need GAP ?

most higher end insurance offers a new car value back for 12 months and some are 24 months.

Why insure your insurance ? put the money towards having better insurance In the 1st place if yours is lacking.

[Pinball]

That's ridiculously high for GAP insurance, would be much cheaper third party.

911R, most GAP insurance will include interest owed on finance, which will possibly be ultimately a higher value than than the car if a total loss.

[Cheib]

Porsche911R said:

Why do you need GAP ?

most higher end insurance offers a new car value back for 12 months and some are 24 months.

Why insure your insurance ? put the money towards having better insurance In the 1st place if yours is lacking.

Agree totally, get decent inursncae in the first place ! just had a quote which includes three year gap insurance.

Also with the better policies you can have the car repaired where you choose which is important, maybe more important than gap insutance

[SITDOWN]

Can anyone tell me which insurance companies do provide gap cover within their general policies?

[alanshaw]

SITDOWN said:

Can anyone tell me which insurance companies do provide gap cover within their general policies?

Yes I like to know as well................

[AdamV12V]

alanshaw said:

SITDOWN said:

Can anyone tell me which insurance companies do provide gap cover within their general policies?

Yes I like to know as well................

My Chubb polices (on my recent GT4 and now a V12VS) are both agreed value and back to original invoice cost in the first 12months, and I'm pretty sure the Zurich Private Client polices I have had in the past were too.

If you are just going with the std policies from the likes of Aviva, Direct Line then I wouldn't expect they would, as they will just be market value.

[SITDOWN]

Thanks for that
Direct line only replace like for like if the car is stolen and not recovered
Will look into your suggestion

[JasonSteel]

alanshaw said:

If you claim an other they will deduct cost of tyres, alloys, scratch/dent, unless you have taken these out @ time of GAP

are you sure this is the way it works? i took out 3rd party GAP recently and my policy wording doesn't mention any of the above.

pretty sure a fair few on here have taken out 3rd party GAP so can anyone confirm what the situation is?

alanshaw said:

or have I been told a version to sell me the OPC Ins ??

seems more likely?

think i need to speak to my GAP provider...

[JasonSteel]

JasonSteel said:

seems more likely?

think i need to speak to my GAP provider...

called them and they said it's complete nonsense - in the event of a write off they will pay for a replacement vehicle or top up to value of the car when bought (which ever is higher) up to the value i have insured.

there is no deduction made whatsoever for wheels, tyres or anything else and when i read through the policy at the time of purchase i didn't see anything that would make me think otherwise.

[SITDOWN]

It looks as in standard Zurich insurance policies will replace with the same model and specification for both theft and accidental damage as long as the car is less than one year old and it'll cost more than 60% of the value of the car to repair.
Don't know what the policy costs though

[Cheib]

SITDOWN said:

Thanks for that
Direct line only replace like for like if the car is stolen and not recovered
Will look into your suggestion

Aviiva just offered me it for theee years.

You also need to be very careful with the likes of Direct Line or Admiral...check the definition of "like for like" Admiral only pay out on the cost of the basic car and certainly never used to cover options despite insisting they are specified at time of underwriting.

[andyglos]

"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.

[Ahbefive]

I got gap insurance on my focus RS. It was about £400 for 5 years back to invoice cover. Worth it in my book.

[alanshaw]

JasonSteel said:

called them and they said it's complete nonsense - in the event of a write off they will pay for a replacement vehicle or top up to value of the car when bought (which ever is higher) up to the value i have insured.

there is no deduction made whatsoever for wheels, tyres or anything else and when i read through the policy at the time of purchase i didn't see anything that would make me think otherwise.

Jason, which company did you use for GAP?...........looks like OPC is telly Porkies !!

[JasonSteel]

contacted ALA at first but they weren't clear on whether they would offer full cover:

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

then somebody on the forum suggested gapinsurance.co.uk and i found their policies to be a bit more flexible and as a bonus it was a bit cheaper too.

[JasonSteel]

JasonSteel said:

somebody on the forum suggested gapinsurance.co.uk and i found their policies to be a bit more flexible and as a bonus it was a bit cheaper too.

though i've just read their 'about us' page, and i can't say it sounds convincing...

http://gapinsurance.co.uk/about-us.asp

i think i'll be looking for an alternative next week.

anyone else used this company?

[djc206]

ALA seem to come highly recommended and if you type PISTON12 in the promo code box it'll knock 12% off the price. I got a quote 2 days ago for my mustang and it came in at ~£215 for the all singing all dancing policy that buys you a replacement brand new car rather than just return to invoice.

[c1derman]

djc206 said:

ALA seem to come highly recommended and if you type PISTON12 in the promo code box it'll knock 12% off the price. I got a quote 2 days ago for my mustang and it came in at ~£215 for the all singing all dancing policy that buys you a replacement brand new car rather than just return to invoice.

I emailed ALA about matching a quote from easygap...no reply as yet.

[Cheib]

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.