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Insurance for car bought on the scrappage deal

Hopefully I'll be getting my new car at the beginning of September, will the insurance value be for the price I paid or the full price before scrapage?

Comments

  • dacouch
    dacouch Posts: 21,637 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The Insurance should be for the amount it costs to replace without the scrappage deal.

    Most Insurance policies will replace a car that is written off (Generally repairs costs exceding 60% of the vehicle cost) in the first year of ownership with a brand new car (Same make and model).

    Do yourself a favour and do not buy GAP or RTI or Replacement Vehicle Insurance from the dealer who sells you the car as they will charge you a fortune for it
  • hardpressed
    hardpressed Posts: 2,099 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Thanks for that, would you advise buying GAP insurance?
  • dacouch
    dacouch Posts: 21,637 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Are you buying the car on finance
  • hardpressed
    hardpressed Posts: 2,099 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    No, it's not on finance.
  • dacouch
    dacouch Posts: 21,637 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Gap Insurance pays the difference between the amount your car Insurers pay when they write the car off and any amount left on your finance.

    Replacement Vehicle Insurance pays the difference between what your car insurers give you and whats needed to replace the car with a new one.

    As I stated before your car Insurance normally covers it anyway for the first year.

    You can buy Replacement Vehicle Insurance for circa £180ish on the internet (The dealer will try and charge you circa £350)
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