Gap insurance return to invoice - invoice amount

withaspritz

Hi, 

Bought a car with a bank loan. Wanted to get GAP insurance via a broker but was wondering what I put as the invoice amount

My invoice breakdown as follows:

Car 12500 exc vat
admin fee 82.50 exc vat
gardx 165.83 exc vat

total exc vat 12748.33
total inc vat 15298.00

Obviously I want to put an accurate figure for the invoice amount. I’m guessing my that means just the car inc car amount which is 15000 but not including the admin fee and Gardx paint treatment?

or is it the full amount 15298?

ciderboy2009

You might find it difficult to get GAP insurance - see https://www.fca.org.uk/news/press-releases/gap-insurers-agree-suspend-sales-following-fca-concerns-over-fair-value

DullGreyGuy

Read the policy book which will define what aspects of the invoice they will/won't pay. Apply that same logic to your invoice. 


The article seems to relate to Financial Gap, it's not clear if it extends to other classes of GAP. 

Bigwheels1111

From a YouTube video today GAP is available until the 31st of March.
Then they are all being pulled. About 80% of gap policy’s have been pulled.
Get a quote from the ones available. Get the best price.
Then ring and ask them what figure you need to put in.