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    • MSE Rosie
    • By MSE Rosie 18th Dec 15, 9:35 AM
    • 79Posts
    • 36Thanks
    MSE Rosie
    Gap insurance - guide discussion
    • #1
    • 18th Dec 15, 9:35 AM
    Gap insurance - guide discussion 18th Dec 15 at 9:35 AM


    Hi all,

    We've written a new Gap Insurance guide and would love your feedback.

    How did you find the info? Was it useful? Have you had a good or bad experience when buying gap insurance?

    Thanks for your help!

    MSE Rosie
Page 4
    • dacouch
    • By dacouch 15th May 18, 10:01 PM
    • 20,546 Posts
    • 12,726 Thanks
    dacouch
    I wondered? Has anyone had a problem with GAP insurance paying out? Our policy is asking us to go back to our main insurer as they are saying they have underpaid.. The reason we bought GAP insurance was to minimise the hassle, and this doesn't seem to be the way forward.
    Originally posted by one_more_query
    Some policies are subject to the car insurer paying out what the GAP Insurer define to be the true value of the written off car. If they deem the car Insurer to have under paid for the car, the Gap insurer will limit their pay out to the difference they believe which mnay leave you out of pocket

    Some of the better newer policies do not have this requirement although they may ask you to go back to the car insurer if they believe they are grossly under valuing the vehicle
    • netloser
    • By netloser 14th Jun 18, 2:30 PM
    • 6 Posts
    • 1 Thanks
    netloser
    ??Betterment??
    Am I missing something? 4 year GAP insurance on say a Citroen. Say it costs 15000 to buy new and after 3 years it is worth 30% of that, so 4500. At 3+ years old it doesn't take much to write it off and Aviva or whoever generously settle for 4000. Gap gives you 11000 and you get a new car. Result better than Betfair!!



    Why don't we see more torched nearly 3 year old cars about? Or have I missed something?
    • lostinheaven
    • By lostinheaven 15th Jun 18, 1:58 PM
    • 182 Posts
    • 97 Thanks
    lostinheaven
    Am I missing something? 4 year GAP insurance on say a Citroen. Say it costs 15000 to buy new and after 3 years it is worth 30% of that, so 4500. At 3+ years old it doesn't take much to write it off and Aviva or whoever generously settle for 4000. Gap gives you 11000 and you get a new car. Result better than Betfair!!



    Why don't we see more torched nearly 3 year old cars about? Or have I missed something?
    Originally posted by netloser



    Better still, what if the new equivalent Citroen had (by the time of claim) increased from 15,000 to 16,000... Invoice GAP insurance might well pay you 11,000 but a Replacement GAP insurance policy would be paying you 12,000!


    There's no doubt that GAP insurance lends itself to fraud but, don't forget though that it's the motor insurer working on the front-line so to speak. Ultimately, the motor insurer has to declare the claim valid and offer settlement before the GAP insurance policy can be called upon and (allegedly at least) they're going to ever greater levels to detect and prevent fraud.
    • cashlady
    • By cashlady 11th Jul 18, 3:19 PM
    • 809 Posts
    • 13,729 Thanks
    cashlady
    Saved Money
    Hi just to let people know that i was offered gap insurance on my new used car by the dealer for nearly 400.i used the site and got a deal for 125 including a 25% discount using a code from this site,thank you for the info and the saving.
    • cashlady
    • By cashlady 11th Jul 18, 3:27 PM
    • 809 Posts
    • 13,729 Thanks
    cashlady
    It worked for me
    • carob31
    • By carob31 10th Aug 18, 1:33 AM
    • 1 Posts
    • 1 Thanks
    carob31
    Gap Insurance
    Was contacted today by dealer linked Gap Insurer who took the " Responsible lender" approach until the "sell" became apparent. Offered me interest free policy of just under 400 for the year. I had to repeat myself several times to have 24hrs to think about it not knowing that 2 day rule. Went online to research and via MSE, established that it would be best to take out GAP insurance and after a few links and quotes bought a policy for under 80 a saving of 320. I say that's a result!

    Thank you MSE!
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