GAP Insurance

[MrMiata]

Hi,
I've just been informed by my insurance company that my car is now a write off.

I'm fully comp and have GAP insurance with the AA. But, they told me GAP doesn't cover any claims where I have the option to receive a replacement vehicle.

But, I just read in the Chaucer T&C that, "A replacement car of the same make and model must be immediately available. If no replacement car is available we will pay you the market value of your car at the time of the loss or damage."

My car was the MX-5 - Kuro edition which isn't available any more (although there is a Venture edition now available which is comparable).

So, does that mean Chaucer are going to give me the second hand value?
Also, since it seems a replacement vehicle is no longer available to me does that mean I can go back to the AA GAP insurance?

I can't contact them until Monday and this is really bugging me. Any advice would be very appreciated.
Thanks,

[Ozzie Osmond]

MrMiata said:

they told me GAP doesn't cover any claims where I have the option to receive a replacement vehicle.

If you're getting a replacement vehicle you don't have a "gap", so no claim.

[MrMiata]

Ozzie Osmond said:

If you're getting a replacement vehicle you don't have a "gap", so no claim.

That's the problem though. Because Chaucer can't get the exact Make and Model as it's no longer available they'll instead give me the "market value of my car at the time of loss". So I'm not actually going to get a replacement car.

So I believe that means I only get the second hand value. It just seems like a con to me. GAP is invalid because of the new vehicle clause and the new vehicle clause is invalid because that model isn't available!

[Herman Toothrot]

I read that as your insurance company will pay you out 2nd hand value and then AA make up the gap, never known an insurance company to just go and get you a new car straight away?

[MrMiata]

I know insurance companies will do everything they can to not pay out, but I can't believe these loopholes are legal!

[MrMiata]

Herman Toothrot said:

I read that as your insurance company will pay you out 2nd hand value and then AA make up the gap, never known an insurance company to just go and get you a new car straight away?

I hope you're right. I guess it comes down to the wording. GAP might say that because I have a new vehicle replacement clause then GAP doesn't have to pay, even if I don't actually receive a replacement vehicle.

Guess I'll find out on monday...

[Herman Toothrot]

MrMiata said:

I know insurance companies will do everything they can to not pay out, but I can't believe these loopholes are legal!

You don't have the option to get an immediate replacement as they no longer make them, so therefore your gap cover is valid. I can't see a problem?

[MrMiata]

I see what you mean. I just read it again and that does seem to make sense.

Fingers crossed...

[TwigtheWonderkid]

MrMiata said:

I know insurance companies will do everything they can to not pay out, but I can't believe these loopholes are legal!

Great comment. Apart from the fact that the insurance company are only saying they won't pay out if you don't need them to pay out and it isn't a loophole at all. But that aside...spot on!!