Financed Car Crash & Insurance

Bigwheels1111

I hope it’s under a year old and the insurance sorts it out, as most insurance makes it up for the first year.
But a gap policy is a no brainier, 1-2% of the car price for 5 years cover.
My mate got an E class new for cabbing £30,000.
He paid around £350 for a 5 year gap policy that included hire and reward driving.
After 6 months cabbing it had lost 10k.
For my Peugeot 5008 it was £200 for 5 years on a like for like replacement.
I would have been upgraded to the new model if I had needed to claim.

KimJongUn88

Three personal injury claims should make up the shortfall of any valuation…

[Deleted User]

At the moment used cars with low mileage are selling for more than new ones. The valuation might be better than expected.

Penelopa.Pitstop

Was going to say the same. There's a chance, that value of the car is the same as when bought last year.

Sandtree

Owlykatz said:

The_Fat_Controller said:

You don't deal with the manufacturer in case of an accident.

Are you actually dealing with the assistance service provided through the manufacturer ?

Are they dealing with the insurance companies involved ?

It's all a bit confusing at the moment, but you must ensure your own insurers are informed asap.

Many thanks for your response.

Yes, the assistance provided by the manufacturer. I did call our insurers on the day of the accident and they made a note.

Many manufactures have simply lent their name to accident management companies in exchange for a cut of the fees they generate, some may have bothered to set up their own claims management company but as these are now regulated and so come with a lot of overheads and many probably feel isnt worth the overhead for a sideline.