Gap insurance - guide discussion

Kernel_Sanders

Andrew1000 wrote: »

GAP Insurance 123 were brilliant. We had a major accident which wrote off our 2014 Octavia and GAP Insurance 123 made the claim process pain-free and straightforward. They quickly paid out £9,738 to bring us back to invoice price for our new replacement Octavia.

Cannot not praise them highly enough - which is more than can be said for our car insurers claim process! So impressed, we have just taken out GAP insurance for our new car through GAP Insurance 123

This is this newbie's only post, made a couple of years ago. I should report it as spam but it will be rancid by now!

Sloanranger wrote: »

was'n't/could'n't/would'n't/were'n't

In all the many years I've spent reading, I have never once seen such words deliberately punctuated like this. I suspect you haven't either, or if you have, you can't have helped noticing that nobody else does.
So why do you?

Calavera

Very distracting that you keep referring to it as gap insurance in the article, especially as you acknowledge it's an acronym straight away. It's therefore GAP insurance.


Edit, this thread was at the top, I didn't realise it was actually 4 years old or I wouldn't have bothered. The point stands though!

AJ16

mutley74 wrote: »

On PCP you are not the registered owner so the new car feature with direct line does not apply. I had same issue.

I just phoned Direct Line and this is not correct, New for Old applies in all cases except where you are leasing.

Dennis_myway

Has any one purchased gap insurance from CLICK4GAP. Just got a good deal with Martins code.

M100flash

While reading your GAP insurance article, prompted me to offer the following advice on a similar topic.
Anyone buying an electric vehicle (EV), should be aware when insuring it, that many companies DO NOT INCLUDE THE BATTERIES, in their cover, if the batteries are on hire, as many are. These are classed as expendable items and not the insurance companies responsibility.
An example of say buying a Renault Zoe, second hand for £5,000 with the batteries on hire, would in many cases be valued well below the actual purchases price, and the battery value would need to be reimbursed to the battery hire company.
With the increase in popularity of EV's, and article on this subject, would prove a valuable education and guide to us consumers.
Many thanks for all your advice over the past number of years. I now do very little that involves my hard earned cash, with consulting MSE first.
Huw Evans (retired local government employee).

BigPondFish

I had a non fault total loss accident on the 3rd August. Admiral paid the claim (£17,600) within 10 days of the accident. I have a Gap insurance policy (back to invoice) with Click 4 Gap. Contacted them 3 days after the accident and then emailed them al the relevant paperwork the next day. I am still waiting for confirmation that they will pay the £1900 claim.
Definitely will not be using them for Gap insurance on the replacement car.

rs65

jamgart87 wrote: »

but my argument is that I was never told I'd pay it on a personal 0% loan through Santander. I'm just seeking advice of others as to what you'd do next :mad:

You took out a policy and got 0% finance for it.

What's your concern?

adriangriffiths

Here's a different problem. I bought a 4 year return-to-invoice GAP insurance cover when I purchased my car new on March 31st 2017. I have recently been notified that the insurance company in question has gone bust and this morning I had a cheque from the FSCS with a pro-rata refund of my original premium.
Is this all I'm entitled to? I'm now left without any form of return-to-invoice cover and my only option is to purchase a new return-to-value policy at an exorbitant price which I am not inclined to do.

RichardCUK

Can you recommend any good gap insurance companies at all please?


I see Total Loss Gap gets good reviews online. I dont want dealership gap as it seems really pricey buty at the same time I dont want to go with a crappy gap insurance company. Want to find a happy medium

lopsyfa

adriangriffiths wrote: »

Here's a different problem. I bought a 4 year return-to-invoice GAP insurance cover when I purchased my car new on March 31st 2017. I have recently been notified that the insurance company in question has gone bust and this morning I had a cheque from the FSCS with a pro-rata refund of my original premium.
Is this all I'm entitled to? I'm now left without any form of return-to-invoice cover and my only option is to purchase a new return-to-value policy at an exorbitant price which I am not inclined to do.

I think what the FSCS offered you made sense. If you are making a claim and the company goes bust, you will be entitled to get the claim amount. As you are not making a claim and have been covered until now, you are entitled to a refund for a period you won't have GAP insurance. You now need to arrange an alternative GAP insurance immediately (if possible due to length of ownership of the car).