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      12-07-2016, 10:09 AM   #1
JLR1969
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GAP

Looking at GAP insurance and been quoted £174 with GAP Insurance.co.uk

This is for £38K cover to return to List price not invoice price so in essence circa £52K

3 Year cover

Anyone have any advise?
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      12-07-2016, 12:20 PM   #2
DB118D
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Check your insurance policy - some offer like for like replacement in year 1, although not sure how they would manage that given the F10/11 is all but obsolete now.

Means you can defer GAP cover for a year or take a shorter policy depending on your planned period of ownership
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      12-08-2016, 03:17 AM   #3
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Quote:
Originally Posted by JLR1969 View Post
Looking at GAP insurance and been quoted £174 with GAP Insurance.co.uk

This is for £38K cover to return to List price not invoice price so in essence circa £52K

3 Year cover

Anyone have any advise?
VRI is definitely the way to go Frank Pickles are a well regarded broker. Price seems about right too... Check if you need it in the first year and if not defer your start date.
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      12-08-2016, 08:44 AM   #4
JLR1969
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Well guys you were right LV do offer a like for like in the first year.

Thanks for the heads up!!
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      12-08-2016, 09:47 AM   #5
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Makes me laugh does GAP.

So insurance companies sell another [expensive] insurance policy because their original product does not do the job properly.

What a genius idea!
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      12-08-2016, 09:54 AM   #6
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Quote:
Originally Posted by shiner View Post
Makes me laugh does GAP.

So insurance companies sell another [expensive] insurance policy because their original product does not do the job properly.

What a genius idea!
How's that? Your car insurance policy will provide you with a brand new car of the same specification 2.5 years after you bought it?
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      12-08-2016, 10:00 AM   #7
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Quote:
Originally Posted by shiner View Post
Makes me laugh does GAP.

So insurance companies sell another [expensive] insurance policy because their original product does not do the job properly.

What a genius idea!
1. It's not overly expensive if you look hard enough
2. Motor insurance will not put you in a brand new car outwith year 1 should the worst happen
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      12-11-2016, 01:35 AM   #8
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Quote:
Originally Posted by shiner View Post
Makes me laugh does GAP.

So insurance companies sell another [expensive] insurance policy because their original product does not do the job properly.

What a genius idea!
This is so true
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      12-11-2016, 03:20 AM   #9
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This is so true
Explain?
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      12-11-2016, 04:08 AM   #10
kinhwear
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I think he means that you buy a (used) car for £xx,000 and insure it for £xx,000 but find that you are only covered for a lesser amount even from day 1.

I had a used car many years ago that was written off after a couple of months, the first of several offers were way below what I had paid and thought I had insured it for.

Eventually the AA legal team got me a figure much closer to my purchase price.

Also when you renew, does your insurance company give you any indication of what value they are offering cover against?
I doubt it, they just quote a premium and do not tell you what amount of cover that is for!!

OK, we all understand that it is current value but a naive person would think they would get their money back!!
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      12-11-2016, 04:18 AM   #11
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You don't insure it for £xx,000, you insure it for market value. You can insure it for a particular amount it you like. That is called agreed value insurance but you and the insurer have to do the agreeing.

I suspect that "naive" is being used very generously.
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      12-11-2016, 04:45 AM   #12
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Quote:
Originally Posted by JLR1969 View Post
Looking at GAP insurance and been quoted £174 with GAP Insurance.co.uk

This is for £38K cover to return to List price not invoice price so in essence circa £52K

3 Year cover

Anyone have any advise?
I went "gapinsurance.co.uk" new car replacement, NOT Invoice, 3 years £45K for £210
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      12-14-2016, 01:14 PM   #13
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Just looking at GAP myself, my dealer has offered 4 years return to invoice for £250.
Online it seems to be £190 for the 4 years, i phoned my insurance who said the 1st year they pay out the invoice price.
Most of the online ones offer GAP for up 365 days from new so I'll wait for the 1st year then take out a 4 year policy for £190, giving 5 years cover in all.
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      12-14-2016, 01:55 PM   #14
JLR1969
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Quote:
Originally Posted by JOHNBMWM5 View Post
I went "gapinsurance.co.uk" new car replacement, NOT Invoice, 3 years £45K for £210
Great minds!
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