Can someone explain what gap PLUS is? as i paid for gap when i ordered the car as it was inc in the final price, however i have rec a d/d mandate for gap lus but it doesnt state what it is.

If you read the summary of cover for GAP Insurance you will see that there are basically two levels available - Gap Shortfall and Gap Plus. Your Gap Insurance Application Form has details of which cover you asked for, and signed for - presumably Gap Plus if that is what you are being debited for.

The summary of cover does state gap plus. However I thought that this gap fee was included within the monthly installment fees. The acceptance form section states "To apply for gap plus all you need to do is read and sign the declaration and complete payment details etc" Does this mean the gap is mandatory or optional. Im gonna have to dig out the order form...

Gap is optional.

Or maybe not.

IIRC, when i took out the 0% finance deal, they may have said that GAP was compulsory with that. Then again, i may have been dreaming. The reason it's not so clear in my mind is that I was going to take it out anyway.

I don't know whether anyone has ever claimed on their GAP insurance but a colleague at work did and the whole experience was somewhat rather more bemusing.

The story goes. Purchased used 5-series from a BMW main dealer for approx

But for the extra

Originally posted by Jimmy in this post

All does get resolved weeks and weeks later but not without a few sleepless nights for my pal at work.

Part of the reason I didn't bother with it - if you have the stress of a car written off, having the stress of dealing with *two* insurance companies would just be too much!

Besides which, you've got to take some risks in life, eh?

Rob.

Geoff, yeah you're right and I'm not suggesting it's not a good thing. Just that my mate woke up one night to find his pride 'n' joy being driven away at high speed only to be treated like a common criminal when he tried to claim. I mean having to go through all your financial details with a total stranger just so that the insurance comapany 'believe you' is a bit much.

I can't understand that at all. I mean, if the payments are up to date for GAP and car, then why in God's name would they need to go through his financial details??

Confusing.........

My wife took out the GAP on the Octy VRS. It was stolen three weeks ago off the drive after the house was broken into and the keys taken.

The car was insured with Churchills and they have done all the sorting out over the GAP. Basically the car was three months old so Churchills replace the Octy with a brand new one and the GAP pays the back to invoice price - so thats the GAP(on the new OCty) and the Toughseal Paint treatment.

We have had no one trawling through our finances and in reality the GAP hasn't been used for its main purpose but if the car had been over 12 months old the GAP would have paid the shortfall between what the insurace paid out and what a new one would have been.

Originally posted by Huck in this post

I can't understand that at all. I mean, if the payments are up to date for GAP and car, then why in God's name would they need to go through his financial details??

Confusing.........

Huck, I can only presume they thought they were dealing with a potentially fraudulent claim. Expensive car, 2 years in that sort of thing.

Originally posted by MonkeyHanger in this post

But for the extra

Colin, quick VBCode tip...

when doing colour changes, you need to spell colour as if you're a Yank, ie

Originally posted by MonkeyHanger in this post

Colin, quick VBCode tip...

when doing colour changes, you need to spell colour as if you're a Yank, ie

DOH! st00pid yanks!.. thanks :p

Originally posted by Neo_VR in this post

you dont get a new car.

all that gap does is pay the negative equity.. ie, lets use a clio for the example (GAP is mandatory on those)

car is written off, and you get 4k from the insurers. you owe 5.5k on finance... gap pays the 1.5k difference. but you still end up with no car!.

That is what (Skoda) GAP (Shortfall Protection) does. But there is also GAP Plus (Return to Invoice) which, in the event of a total loss, will pay out the difference between the invoice price and the settlement amount received from the insurer (or market value if greater) up to an amount not exceeding