new to all this pcp car insurance lark... hear me out...

 

for the sake of argument here's a scenario:

 

if you have a new skoda on PCP, and you have a crash and the car under pcp is written off - can you get the other party to pay for the rest of your balance outstanding? again, say for the sake of arugument it was caught on dashcam clearly and unequivocal, so the insurance ppl would take your side.

 

how does it work?

 

cheers 

Don't think so- they'll pay you the market value of the car. That's what gap insurance is for, although that is a lot cheaper from other suppliers than the dealers!

Nope doesn't work like that, insurance will only pay out for the market value at that time. Any other outstanding balance that's left is up to you, as stated above GAP insurance is what would cover the rest so it wouldn't leave you in the shi... dump.

Agree with the above.

 

Gap insurance is the way forward and as mentioned it can be bought for a fraction of the price the skoda dealer will try and sell you it for so it's worth looking around and getting a few quotes.

yep GAP or "return to invoice" insurance is the answer (different names for same thing)

 

normally upto £10,000 is what you will be offered, as it is only to cover the gap between market value and cost of finance / new car

 

you can get it from dealer for £300-£400, and out in the market for around £150 for the same cover

 

there is fair margin in it for dealers and you can haggle them down nearer to market rate

 

a months payment for piece of mind,

As above, the whole point of gap insurance to cover this defecit

yep GAP or "return to invoice" insurance is the answer (different names for same thing)

 

normally upto £10,000 is what you will be offered, as it is only to cover the gap between market value and cost of finance / new car

 

you can get it from dealer for £300-£400, and out in the market for around £150 for the same cover

 

there is fair margin in it for dealers and you can haggle them down nearer to market rate

 

a months payment for piece of mind,

 

You can get GAP insurance for less than £150. I think I paid about £94 for mine but could have had it for less for a smaller sum insured. Try gapinsurance.co.uk - they are a forum sponsor and in my experience provided a very good service.  But search "gap insurance" on the forum and you will get other recommendations.

Just my twopenarth but I am with Saga and have a policy that pays out the new price as paid, for the first year so no gap. may pay of the balance at end of year anyway with no penalty clause. If not I will probably have to sort something out But whatever don't take the stealer offer unless you can get it for big discount always much cheaper to get your own.