Gap insurance and Car insurance

Armengar

Official MSE Insert:

You may also find our fully researched Gap Insurance guide helpful.

Back to the original post...


Im insuring a new car. I plan on getting gap insurance as it is under finance. However, I need to put an estimated value as the car insurance underwriting value. I am well aware that this is not the amount guaranteed to be paid out but is used to underwrite the cost.

If I already have gap insurance (RTI) then would it be possible to say put a lower value in the car insurance to get a lower premium knowing that the gap insurance would pay out the difference to invoice in a total loss.

Although the car is worth X amount, I paid Y amount after scrappage and finance perks - which are generally not covered in insurance anyway so technically it would be fraud.

Can regular moneysavers see any holes in this?

Quote

Armengar wrote: »

Can regular moneysavers see any holes in this?

Dur.

http://www.youclaim.co.uk/News%20-%20Lying%20motorists%20risk%20car%20accident%20claim%20rejection.htm