F112 gap insurance provide

[rjn21]

Has anyone found a GAP insurance provider for F cars? I an struggling to find an underwriter that will quote on 250k+ Invoice price. As a bonus my normal road insurance was £630 with admiral!?!!

ETA - iPhone fat finger error in title. Sorry can't change.

Edited by rjn21 on Saturday 7th December 04:51

[johnnyreggae]

Mightn't not using the very cheapest insurance company mean not requiring gap insurance ?

Its a bit like those folk who come here having bought the cheapest insurance and then lament the cost of or the impossibility of obtaining track day cover which could have been easily included with an apparently more expensive policy in the first place

(and thats before any discussion of claims)

Edited by johnnyreggae on Saturday 7th December 10:00

[purpleperil]

I used http://www.directgap.co.uk several times. Thought they were very reasonable.

[rjn21]

The more expensive policies, such as the top end Chubb policies (typically sold through Locktons) of course do provide new for old in year 1 in the event of a total loss, whereas the cheaper policies only provide "market" value at the time of the loss.

However, even with 'agreed value' policies, for years 2,3 and 4, the agreed 'value' does need to be a sensible market value for the car for the insurer to agree it - ie it cant be inflated as new car prices rise and the car depreciates with age and use. With the correct type of GAP in the event of a total loss, usually costing in the area of £250 to £750 for 4 years, it will pay whatever it takes to get a new car at the time to the same spec as the total loss car, less the main insurance payout (which will be market or agreed value), up to the policy limit.

The benefits of the top end policies, I don't need, will never track the car or go to Europe, just normal Class 1 and SDP. I nearly made an error with one of the medium Chubb "classic" policies for my prior Aston as it did not provide third party cover on non-owned but separately insured vehicles.

The Chubb policies are 2 to 3k a year, which for me (but maybe for others) does not add value.

[rjn21]

Alphera (part of BMW) do a 2 3 or 4 year product with a claim limit of 35k, no max invoice price. It's only return to invoice so you take risk on new car inflation.

[anonymous-user]

£35k limit versus £250k invoice on brand new car isn't enough

nowhere near enough

needs to be double that to even be worth a look imo

[rjn21]

Only Alphera would offer any policy on invoice>240k. If any insurer would offer a higher claim limit on a 265k invoice, I couldn't find them.

[anonymous-user]

easygap claim

"If you vehicle is over £75,000 please call 0800 195 4926 as we have access to policies for vehicles up to £240,000 and claim limits up to £50,000"

[rjn21]

Capped at invoice of 240k or lower. It's the Abraxas policy, which is great, but limited to a 240 or lower invoice, otherwise I would have taken it.