GAP Insurance

pmerryman

Active Member
Feb 1, 2011
74
0
Oldham,Uk
On the Quote it asks GAP claim limit? What would you put in here? Do you put enough to cover the cost of a replacement car?

Thanks Paul
 
Nov 23, 2010
873
0
Dunfermline, Fife
I paid cash for my car, I was under the impression GAP was only really valuable if u had finance i.e a car loan for the buying of. Have i been a teet.? lol
 

pmerryman

Active Member
Feb 1, 2011
74
0
Oldham,Uk
I would of thought you were in the same boat. If you had an accident or the car was stolen, it doesn't matter how you paid for it, the car will still need replacing, and there will be a shortfall somewhere.
 
Nov 23, 2010
873
0
Dunfermline, Fife
I thought it was to cover the now outstanding finance on the car that is now fecked or stolen?
Ah well, easy come easy go! lol

Just did a quote on click4gap and its £95 quid for it, if ye go through quidco u get £22 cashback...
might be worth investing....
 
Last edited:

pmerryman

Active Member
Feb 1, 2011
74
0
Oldham,Uk
Just found this on a GAP insurance web site.

I paid cash; can I still buy a policy?
Yes! Vehicle Replacement Insurance pays the difference between the purchase price and the cost of replacing the car with a new car of the same specification or of similar age if the car was not new when purchased. It makes no difference how you have chosen to buy the vehicle!
 

m0rk

sarcasm comes free
Staff member
May 19, 2001
27,787
33
Clanfield, UK
I went for RTI insurance, so that if it's written off, I can just take the insurance money & the 'RTI' insurance and buy a new one :)
 

pmerryman

Active Member
Feb 1, 2011
74
0
Oldham,Uk
I thought it was to cover the now outstanding finance on the car that is now fecked or stolen?
Ah well, easy come easy go! lol

Just did a quote on click4gap and its £95 quid for it, if ye go through quidco u get £22 cashback...
might be worth investing....

Did you do the Vehicle Replacement GAP ?
 

Biker

Full Member
Oct 6, 2003
1,593
12
Northumberland
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I thought it was to cover the now outstanding finance on the car that is now fecked or stolen?
Ah well, easy come easy go! lol

I thought the same as you mate, that GAP insurance was used to pay off any shortfall to the finance company that a settlement may have left.

So do I understand this, you are saying you can take GAP insurance out for three years and if your car is a total loss in that three years you get a brand new one? I might have to have some of that...lol
 
Nov 23, 2010
873
0
Dunfermline, Fife
I thought the same as you mate, that GAP insurance was used to pay off any shortfall to the finance company that a settlement may have left.

So do I understand this, you are saying you can take GAP insurance out for three years and if your car is a total loss in that three years you get a brand new one? I might have to have some of that...lol

It is this, if i paid 15k for a boc, and the insurance says at time of crash write off or stolen it is worth 'market value', then the gap insurance pays you the difference from what you paid on yer invoice to what the insurance co pays out to u.

Car = £15k
Insurance value = £10k
Gap pays you £5k

Means that u can then go and buy another 15k boc, or whatever.
 
Nov 23, 2010
873
0
Dunfermline, Fife
Sorry for all the questions, but as I have had mine for nearly a year can I still take out a policy?

Think so, Although more expensive for some reason if you've owned the car for more than 90 days, and it seems you have only the one option of 'return to value' ranther than 'return to invoice'.

here is where i got mine from (in the last 10 mins wi £22.50 quidco cashback :D

Not yet had the car for 90 days yet!

http://www.click4gap.co.uk/index.asp
 

Deleted member 55436

Guest
No, you need to take it out within about a week of purchase IIRC

You can do RTI up to 3 months from new purchase, with up to 3 months delay before activation.
Bought my FR in late Sept 2010, RTI kicks in March 2011 for 4 years. Cost about £230 for up to £12k gap.
 
Nov 23, 2010
873
0
Dunfermline, Fife
You can do RTI up to 3 months from new purchase, with up to 3 months delay before activation.
Bought my FR in late Sept 2010, RTI kicks in March 2011 for 4 years. Cost about £230 for up to £12k gap.

Mine was £88 for 2 years and £5k cover... Plenty for me, not had any car more than 24 months. Next will be the Bocanegra R 1.6 TSi wi 230bhp, :D :D
 
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