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Old 01-02-2011, 19:09   #1
pmerryman
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GAP Insurance

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
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Old 01-02-2011, 19:23   #2
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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
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Old 01-02-2011, 19:26   #3
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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.
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Old 01-02-2011, 19:32   #4
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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

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 by sly200sx; 01-02-2011 at 19:40.
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Old 01-02-2011, 19:44   #5
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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!
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Old 01-02-2011, 19:44   #6
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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
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Old 01-02-2011, 19:44   #7
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Quote:
Originally Posted by sly200sx View Post
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 ?
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Old 01-02-2011, 19:47   #8
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Originally Posted by sly200sx View Post
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
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Old 01-02-2011, 19:57   #9
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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.
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Old 01-02-2011, 20:02   #10
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Sorry for all the questions, but as I have had mine for nearly a year can I still take out a policy?
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Old 01-02-2011, 20:11   #11
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No, you need to take it out within about a week of purchase IIRC
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Old 01-02-2011, 20:13   #12
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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

Not yet had the car for 90 days yet!

http://www.click4gap.co.uk/index.asp
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Old 01-02-2011, 20:57   #13
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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
Anyone help on this?
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Old 01-02-2011, 21:33   #14
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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.
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Old 01-02-2011, 21:44   #15
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i have GAP, Worked out £150 for 3 years cover, less than a pound a month
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Old 01-02-2011, 22:01   #16
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Anyone help on this?
The cover amount is what the max u can claim as the GAP.
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Old 01-02-2011, 22:03   #17
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Quote:
Originally Posted by CodeMonkey View Post
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,
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Old 01-02-2011, 22:09   #18
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The car was 10598 so what price would you use for the gap.
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Old 01-02-2011, 22:18   #19
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The car was 10598 so what price would you use for the gap.
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