gap insurance

[bripete]

Have people found that the dealers will match a quote from one of the online providers? The dealer quoted me about £230 more than click4gap, for example

ive just change mine over to my roomster had 130.00 left on the gap which i used up 13 mouths on it and i paid another

50.00 quid on top for another 3 years so not to bad and its just peace of mind

[max25591]

well iv been looking into gap insurance ever since i was thinking about buying the VRS, as i cant afford to 'lose' money buying it, then rapping it round a lamp post. Now i have my VRS, i have been looking at vehicle replacement insurance (VRI) rather than return to invoice (RTI), as i got my VRS on VAT off deal. What would happen if i was to write it off, i couldn't buy a new VRS if i had RTI, so i am looking at VRI. My biggest problem is that im insured with admiral, and alot of the policies require the 'normal' motor insurance company to pay retail or glasses guide value for the car, rather than 'market value' or 'trade value'. Also my excess is about £750 as im a young driver, alot of gap insurance policies dont cover above £250 excess if im understanding it correctly...

So has anyone got any ideas of companies that pay out on market value or trade value?

Cheers Max.

[Redline Greenline ii]

im insured with admiral, and alot of the policies require the 'normal' motor insurance company to pay retail or glasses guide value for the car, rather than 'market value' or 'trade value'...

Cheers Max.

I'm also insured with Admiral - and I wasn't aware of this. Does anybody know what happens in this case then? Does the GAP insurer just pay out the difference between the "normal" payout and the Invoice / as new price, or do they refuse to pay out at all?

[bripete]

well iv been looking into gap insurance ever since i was thinking about buying the VRS, as i cant afford to 'lose' money buying it, then rapping it round a lamp post. Now i have my VRS, i have been looking at vehicle replacement insurance (VRI) rather than return to invoice (RTI), as i got my VRS on VAT off deal. What would happen if i was to write it off, i couldn't buy a new VRS if i had RTI, so i am looking at VRI. My biggest problem is that im insured with admiral, and alot of the policies require the 'normal' motor insurance company to pay retail or glasses guide value for the car, rather than 'market value' or 'trade value'. Also my excess is about £750 as im a young driver, alot of gap insurance policies dont cover above £250 excess if im understanding it correctly...

So has anyone got any ideas of companies that pay out on market value or trade value?

Cheers Max.

hi max ive got this gap insurance ala .co.uk when i had the fab sport it was 183.00 and thats it maximum benefit £10.000.00

try them tel 01653-604-304

[max25591]

cheer bripete, had a look before and:

When the policy will not pay out.

No benefit will be paid in respect of:

The amount of any Excess on your motor insurance policy exceeding £250.00 with the exception of Agreed Value GAP

which is not eligible for any excess refund.

As iv mentioned before my excesss is about 750 so does this they wil not pay out?

[bripete]

cheer bripete, had a look before and:

When the policy will not pay out.

No benefit will be paid in respect of:

The amount of any Excess on your motor insurance policy exceeding £250.00 with the exception of Agreed Value GAP

which is not eligible for any excess refund.

As iv mentioned before my excesss is about 750 so does this they wil not pay out?

oh right my excess is only £150.00 so thats why then. sorry max

[Redline Greenline ii]

cheer bripete, had a look before and:

When the policy will not pay out.

No benefit will be paid in respect of:

The amount of any Excess on your motor insurance policy exceeding £250.00 with the exception of Agreed Value GAP

which is not eligible for any excess refund.

As iv mentioned before my excesss is about 750 so does this they wil not pay out?

Just a thought max, but admiral are one of the insurers that will give a decent discount if you have experienced drivers named as additional drivers on your policy. Might be worth sticking someone on and reducing your xs, if you've not already tried that...

[max25591]

cheers BTW im only 19 and to make it affordable to insure iv added my parent on my policy and for some reason i feel lead into a multi car policy but got it for 1200, atleast i get to drive my VRS.

Cheers for the advice but im looking into gap insurance now.

[adamc260]

cheer bripete, had a look before and:

When the policy will not pay out.

No benefit will be paid in respect of:

The amount of any Excess on your motor insurance policy exceeding £250.00 with the exception of Agreed Value GAP

which is not eligible for any excess refund.

As iv mentioned before my excesss is about 750 so does this they wil not pay out?

All this means is they will pay your excess up to £250 so less is deducted from your settlement... if its above that they will only pay £250. Doesnt affect the gap payout in any way shape or form, don't confuse the two. Its just something extra they offer you as if you have a £250 excess, in theory... with the market value/gap insurance and excess payout you should have 100% of the money required to buy a new car... but if your excess is £750 you'll have all the payout money minus £500 (excess)

[max25591]

Ahh thanks adamc260, thats cleared up! ala looking a good bet then... dont mention anything in their exclusions about market value blah blah blah...

[Redline Greenline ii]

ala looking a good bet then... dont mention anything in their exclusions about market value blah blah blah...

Have you come across come that do, then? Might be worth me avoiding them too as I'm insured with Admiral.