[matt@stratford]

Hi All,

I'm finally picking up my new car tomorrow. I've got free bmw insurance for seven days but then need to sort some out. Now bmw is currently showing around £350 on their online search but on the phone £520!!

Questions are who do you guys use for insurance and am I best to get gap from day one? bmw have said their policy includes new for old for the first 12 months so if it's written off or stolen I get a new replacement.

If I get gap who and what is best to go for (I know there are older posts on this but I thought best to get up to date info)

Thanks in advance
Matt

[....,,,,..,,..]

There are some very good threads on Gap, do a quick search.

The reason I say this is that as far as I am aware no one has claimed since those threads so information is still extant.

I use admiral as get multi car, others like LV, that was my second choice.

For the costs it's as well getting from new with Gap.

[davyk31]

Go for GAP from day one to give complete protection. There are clauses in the new for old in the first year cover that can cause issues. For example if a model has had an upgrade no matter how minor they can claim that the equivilant is not available and pay you market value. An extra years GAP is likely about £40 so worth it for peace of mind.

[matt@stratford]

Thanks guys, I do a search for gap

[Mr_JD]

Originally Posted by davyk31

Go for GAP from day one to give complete protection. There are clauses in the new for old in the first year cover that can cause issues. For example if a model has had an upgrade no matter how minor they can claim that the equivilant is not available and pay you market value. An extra years GAP is likely about £40 so worth it for peace of mind.

I suggest you read up on the Financial Ombudsman terms for settling insurance claims...

motor insurance: vehicle valuation

Some policies include a "new vehicle provision" stating that the insurer is only liable to provide a new vehicle if the same make and model – and sometimes specification – is still available in the UK market.

If such a vehicle is no longer available, we are unlikely to agree with an insurer’s decision to pay the consumer less than what it would have paid to replace the vehicle with a new one had it been available. Sometimes an insurer may offer the next model up in the range and we are likely to consider this to be fair.

We would usually decide that it is fair for an insurer to pay the original new price of the vehicle that was written-off if it is the only way that a policyholder can buy the nearest equivalent new replacement.

I am not suggesting that the OP doesn't purchase GAP insurance, but providing the terms of the replacement vehicle in the first 12 months are breached GAP may not be necessary. Key is to check the terms of the insurance policy and the factor in what a 12 months deferral might cost for GAP as it may be prudent to go from new.

[matt@stratford]

Just looking at gap and the policy claim limit. What's a sensible limit? Obviously the higher the limit the higher the premium