Mini "Back to Invoice" Insurance

vikingaero

harveybobbles wrote: »

GAP insurance isn't what the OP is referring to.

they are referring to RTI insurance.

GAP ins is the gap between what it's worth and what you owe if it gets written off.

RTI ins is you get what your paid etc.

GAP is the generic term that covers the various types of RTI/RTV/GAP insurances.

If you have a really high net worth motor then it may be worth going for Hiscox Motor Insurance as this gives RTI/GAP no matter how old the vehicle.

Lum

Out of interest does any similar insurance product exist for older cars?

Something that covers the gap between what the insurance actually paid out and what it actually costs to get a similar car in similar condition.

In our case this difference was about 2 grand.

dacouch

The company I use allow for vehicles up to 5 years old, they normally only offer cover when you buy the car or within a couple of weeks.

This is the company I use http://www.jacksonleeunderwriting.co.uk/the_types_of_gap_insurance_available.html (Click on the link under car and light van link under section 3 and it will give you details of thew cover) They generally only deal with brokers but if you give them a call they may be able to deal with you or give you the details of a broker in your area they deal with

Lum

This is a 16 year old car. I'm concerned after watching my GF get royally screwed over after her 18 year old car was written off. The price guides that insurance companies use don't seem to have been updated to take into account of the fact that finding a 200SX S13 in decent condition is now almost impossible (due to their popularity as drift cars, and with youngsters who have never driven RWD before) and prices have risen massively over the last few years.

My car is significantly rarer, even over in Japan where I bought it from, so I'm quite concerned.

vikingaero

Lum,

There are many brokers who run schemes or have access to schemes whereby the vehicle is subject to an agreed value. That may be the easiest route for you rather than attempting to insure something on a variable basis depending on supply and demand.

Without giving recommendations I know that brokers like Adrian Flux etc run similar schemes.

code-a-holic

I have claimed on Gap insurance in the past and can thoroughly recommend it. When our car was in an accident 1 month before the policy ended the car insurance company gave us £3,50. The gap paid out up to the £9k we paid for the car.
I have taken out gap with click4gap on the new car. £82.50 and £22.50 cashback through quidco. Bargain price!

hethmar

Is GAP insurance not available with the run of the mill car insurers then, as an add on or anything?

dacouch

You generally either buy it from the dealer who sells you the car which is normally very expensive or buy a seperate policy through a broker or online which is much cheaper than buying from a dealer.

You can normally only buy it within a few weeks of buying your car though