GAP Insurance

[avinalarf]

michael gould said:

and would only buy you a sip of my 55 Lafite........the rest of the case is in hiding after my wife used half a bottle for the spag bol a few years ago !!

Very miserly Michael at circa £500 a bottle you should allow your wife access.
Firstly it's probably paid for by your wife's inheritance.
Secondly if she gets a bit tipsy......result.
Was the spag bol tasty ?

[michael gould]

avinalarf said:

michael gould said:

and would only buy you a sip of my 55 Lafite........the rest of the case is in hiding after my wife used half a bottle for the spag bol a few years ago !!

Very miserly Michael at circa £500 a bottle you should allow your wife access.
Firstly it's probably paid for by your wife's inheritance.
Secondly if she gets a bit tipsy......result.
Was the spag bol tasty ?

er try £1200 a bottle !!...yes all paid for by her and yes spag bol was very nice

[avinalarf]

michael gould said:

er try £1200 a bottle !!...yes all paid for by her and yes spag bol was very nice

£1200.........

I'll pop over when I'm your way....we can crack open a bottle.
Just make sure Nick's not around 'cos he'll scoff the lot.

Edited by avinalarf on Tuesday 6th December 17:05

[outofstepuk]

18 months for a comeback with a boast. Were you waiting for the value to go up?

[divetheworld]

michael gould said:

and would only buy you a sip of my 55 Lafite........the rest of the case is in hiding after my wife used half a bottle for the spag bol a few years ago !!

I feel your pain, the Mrs used my best bottle of Hennessy for the Christmas cake.....

[michael gould]

divetheworld said:

michael gould said:

and would only buy you a sip of my 55 Lafite........the rest of the case is in hiding after my wife used half a bottle for the spag bol a few years ago !!

I feel your pain, the Mrs used my best bottle of Hennessy for the Christmas cake.....

I was only joking although she did once use a £50 bottle of wine for the spag bol ....and unfortunately the case only has 1 bottle of the Lafite left which my father gave me a few years ago .....too mean to open it :-)

[RBT0]

bogie said:

there are different types of policy - check the small print. Could offer to cover new replacement, or return to invoice (what you paid for the car)

Your standard insurance is going to pay out market value anyway, up to you if you want to insure for more than that. As the gap from current value to new value increases, so will the premium....

interesting viewpoint on insurance policies here

http://www.mrmoneymustache.com/2011/06/02/insuranc...

Edited by bogie on Monday 5th December 21:19

I have a good news and a potential bad one.

The good one is that I've just found that actually my policy ends next year (it was 3 year cover).

The potential bad one is that checking the policy I've found the Maximum benefit is like 65% of the total value of the car, although the right value of the car is also stated. Is it because the Gap insurance will pay only the gap between the value given by my standard insurance and the full value of the car?

Thanks in advance, I'm not very familiar with this kind of insurance.....

[Jockman]

RBT0 said:

I have a good news and a potential bad one.

The good one is that I've just found that actually my policy ends next year (it was 3 year cover).

The potential bad one is that checking the policy I've found the Maximum benefit is like 65% of the total value of the car, although the right value of the car is also stated. Is it because the Gap insurance will pay only the gap between the value given by my standard insurance and the full value of the car?

Thanks in advance, I'm not very familiar with this kind of insurance.....

Not sure I'm understanding you. Your standard insurer would pay out market value. Your Gap insurer would pay out the difference up to the original / agreed price, depending on your amount of Gap insurance you opted for (apologies for the poor syntax).

So no problem?

When I used GAP it had to be taken out within 6 months of the purchase date too.

[bogie]

65% of total value should be enough, even when the car is 7 years old and worth 30% of list. You write it off, insurer pays out bottom book price, say 30% then 65% from the Gap insurer takes you nearly back to list.

[RBT0]

Yes, that is what I thought, it should be enough.

I don't understand the point above regarding GAP take out within 6 months....

[Jockman]

RBT0 said:

Yes, that is what I thought, it should be enough.

I don't understand the point above regarding GAP take out within 6 months....

Apologies, it was specific to the company I used. If the purchase was over 180 days ago they could not quote automatically.

https://shortfall.co.uk/quote/1

If you select Yes then Yes again you will see what I mean.