GAP Insurance on a 981

[cervezaman]

I think the dealer has quoted around £800 for it, but I haven't really looked into the T & C's yet. I've been doing a little looking around and there seems to be a lot of online places offering really cheap prices.

But, the issue I've got is the claim limit. I've really specced my 981 up (72k) and I'm worried that 3 years down the line a claim limit of say £25k might not be enough.

Ideally I'd be looking to get a return to invoice policy as my car would be worth a lot more to me than the figure they'd probably offer. The insurers could offer a really low figure, but to me the car would have done very few miles and would be in excellent condition.

Has anyone gone down the cheaper GAP policy route, or found anywhere offering higher claim limits?

Any help appreciated!

Cheers, Jon

[SFO]

cervezaman said:

I've really specced my 981 up (72k)

how did you do that?

[anonymous-user]

Wow! I suspect you are going to need closer to 50k cover if you want to be able to replace with new equivalent after 3 years.

[TheBMWDriver]

I hear ala is very good.

http://www.ala.co.uk

[cervezaman]

SFO said:

how did you do that?

Don't ask, needless to say I specced everything except TV. But it was the PCCB's and the 18 way adaptive seats in the end that really pushed it up. Should be nice when it turns up though :-)

[cervezaman]

TheBMWDriver said:

I hear ala is very good.

http://www.ala.co.uk

Thanks, but they seem to have the £25k limit too

[Ady128]

I paid £576 for an £81k 991. The OPC will try to get as much as possible out of you. My dealer said he couldn't go any lower. I'll only charge you 10 per cent of what you save!

[cervezaman]

Ady128 said:

I paid £576 for an £81k 991. The OPC will try to get as much as possible out of you. My dealer said he couldn't go any lower. I'll only charge you 10 per cent of what you save!

hahaha thanks for the heads up!

[matc]

You'll tend to find the claim limit for a car with a purchase price of less than £100k is £25k, regardless of who you buy it from.

You should be able to buy it for about £350 from your OPC, any more and they're making too much money out of it. £350 still leaves them some profit.

ETA: We need to see some pics when you collect it!

[cervezaman]

matc said:

You'll tend to find the claim limit for a car with a purchase price of less than £100k is £25k, regardless of who you buy it from.

You should be able to buy it for about £350 from your OPC, any more and they're making too much money out of it. £350 still leaves them some profit.

Thanks

[Mutt]

Pioneer said:

I'm sure the car will be fantastic, but 72k for a boxster!!!!??? I thought 100k for a 991 was madness but this shocks me even more!!

Surely that car will set a record for first year depreciation? £30k??? Think of the supercar you could buy with the same/less depreciation....

Hope you enjoy it but I think you're mad!!!!

ETA - you're worried a 25k claim limit won't be enough 3 years down the line? It won't be enough 12 months down the line!!

Edited by Pioneer on Sunday 19th August 21:50

I'm not sure you would live up to your handle...

[cervezaman]

Pioneer said:

I'm sure the car will be fantastic, but 72k for a boxster!!!!??? I thought 100k for a 991 was madness but this shocks me even more!!

Surely that car will set a record for first year depreciation? £30k??? Think of the supercar you could buy with the same/less depreciation....

Hope you enjoy it but I think you're mad!!!!

ETA - you're worried a 25k claim limit won't be enough 3 years down the line? It won't be enough 12 months down the line!!

Edited by Pioneer on Sunday 19th August 21:50

Completely get what your saying. But I'm not buying it as an investment, it's always going to be a non-necessary purchase that I'll most likely keep for a long time. In fairness to me it was the PCCB's and a couple of extra options that pushed the price up. As for all the other options, I hate not having all the toys. Each to their own I guess!

I looked at the 991 and wasn't too keen on the looks and in terms of performance there wasn't much in it for the price range I was in.

But, financial suicide? Of course. Is it going to look cool as f**k and be really, really quick? Yep :-) Will I enjoy it? Definetly!

[SFO]

have you gone for bucket seats?

if so, get the seat belt vents painted

[cervezaman]

SFO said:

have you gone for bucket seats?

if so, get the seat belt vents painted

Don't start with more options lol. It's your fault that the car is specced as it is! Damm you with you white car and red roof hahaha. If I'd never seen that picture!

[BnB]

Pioneer said:

Don't get me wrong, I think the 981 looks superb. Better than the 991? Quite possibly!!

It's just you could buy a Scuderia and it would cost you less!

I could not only buy a better value car than my 991 but I could also do my commute in a £20k diesel repmobile and save money on petrol to boot. But I want to drive the car of my choice specced just how I like it and I reckon the OP feels much the same way.

[atom111]

cervezaman said:

Will I enjoy it? Definetly!

That ^^ there is what matters

Enjoy and post pictures.

[SFO]

cervezaman said:

SFO said:

have you gone for bucket seats?

if so, get the seat belt vents painted

Don't start with more options lol. It's your fault that the car is specced as it is! Damm you with you white car and red roof hahaha. If I'd never seen that picture!

I stopped at £52k

[DoubleSix]

I hadn't realised people actually buy gap insurance... just thought it was one of those things dealers try and push on you to which you say "no thanks".

[wilkos]

cervezaman said:

my car would be worth a lot more to me than the figure they'd probably offer. The insurers could offer a really low figure, but to me the car would have done very few miles and would be in excellent condition.



Cheers, Jon

This is what I don't get. Your insurance company is obliged to replace your car when faced with a total loss, with the same car, same age, same spec, same mileage and condition. You don't have to accept their money. Just say I don't want money, I want you to replace my car. That is what they are obliged to do.

No need for gap insurance.

[SFO]

wilkos said:

This is what I don't get. Your insurance company is obliged to replace your car when faced with a total loss, with the same car, same age, same spec, same mileage and condition. You don't have to accept their money. Just say I don't want money, I want you to replace my car. That is what they are obliged to do.

No need for gap insurance.

that's not how it works after the 1st year (where most insurance company will replace).

after year 1, you get market value in cash.