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About to buy car insurance, but have a separate 'back to invoice' gap insurance query
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Hi
I'm about to buy insurance for a used car. Bit of a backstory though...
2021 - 5 year old car was written off in a collision (Non-fault my side)
I turned down first offer by insurers, and the second wasn't great.
I could have taken it further I know, but I settled with the offer as I wanted out the grief and it was all dragging on and on.
This Feb - exactly the same happened as above. Thank god for bystander witnesses! Same rubbish with that insurer...
So I've just bought a used car and at the starting point for insurance quotes where market value is asked for.
I was advised to do the fast Auto Trader trick to get the private value, and it comes up as exactly £2k cheaper than I paid for the car. This is no surprise as I bought the car from a trader, but it is a decent chunk in difference (I needed a certain type of car and been looking for a long time)
If I go through the same events as above, I don't want to financially suffer badly a third time (without bad luck, I have no luck!)
Has anyone here taken out a separate 'back to invoice' gap insurance policy on a used car?
I just ran a test quote and for two years cover (I'll be selling the car then) it'll cost £103.00. The excess would be £150.00 if used.
Thanks!
I'm about to buy insurance for a used car. Bit of a backstory though...
2021 - 5 year old car was written off in a collision (Non-fault my side)
I turned down first offer by insurers, and the second wasn't great.
I could have taken it further I know, but I settled with the offer as I wanted out the grief and it was all dragging on and on.
This Feb - exactly the same happened as above. Thank god for bystander witnesses! Same rubbish with that insurer...
So I've just bought a used car and at the starting point for insurance quotes where market value is asked for.
I was advised to do the fast Auto Trader trick to get the private value, and it comes up as exactly £2k cheaper than I paid for the car. This is no surprise as I bought the car from a trader, but it is a decent chunk in difference (I needed a certain type of car and been looking for a long time)
If I go through the same events as above, I don't want to financially suffer badly a third time (without bad luck, I have no luck!)
Has anyone here taken out a separate 'back to invoice' gap insurance policy on a used car?
I just ran a test quote and for two years cover (I'll be selling the car then) it'll cost £103.00. The excess would be £150.00 if used.
Thanks!
0
Comments
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Yes we bought separate cover for our second hand car bought from a main dealer. It was a low mileage car about 6 months old, most likely been a staff car for somebody at Vauxhall in Ellesmere Port judging by the radio stations saved on the radio. The main dealer quoted a much higher price for the insurance han an online search. We never had to claim so can't comment on that.
Make £2025 in 2025
Prolific £229.82, Octopoints £4.27, Topcashback £290.85, Tesco Clubcard challenges £60, Misc Sales £321, Airtime £10.
Total £915.94/£2025 45.2%
Make £2024 in 2024
Prolific £907.37, Chase Intt £59.97, Chase roundup int £3.55, Chase CB £122.88, Roadkill £1.30, Octopus referral reward £50, Octopoints £70.46, Topcashback £112.03, Shopmium referral £3, Iceland bonus £4, Ipsos survey £20, Misc Sales £55.44Total £1410/£2024 70%Make £2023 in 2023 Total: £2606.33/£2023 128.8%1 -
Yup, have a 5 year policy on my current car, which I bought used.I got vehicle replacement, so that if there is a large increase in cost to get a similar make/model in the next 5 yrs I get even higher pay out than the invoice price (important given mine is an EV and larger batteries, and therefore cost, is likely).I used total loss gap, as they provided a 5year policy on used cars at the time.1
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