[zorroone]

I obtained a quote from car2Cover for tyre insurance that is due to expire.
My car not ready until end of April.

I have now been told by Car2Cover that the Insurance companies have changed their criteria and you can only get tyre insurance along with Gap Insurance.

Anyone went with Car2Cover?

[sunscreemer]

Have you tried an online ala.co.uk quote?

[RobUK]

If they're now saying they wont sell you GAP without Tyre and vice versa, then that's a new one on me. I got quotes from car2cover last year but ended up going with BMW as they matched the quotes I had (instead of the default rip-off price)

[Rhino707]

Originally Posted by RobUK

If they're now saying they wont sell you GAP without Tyre and vice versa, then that's a new one on me. I got quotes from car2cover last year but ended up going with BMW as they matched the quotes I had (instead of the default rip-off price)

Just be sure to check the amount covered. I was given a matching quote only to later notice that the Ala cover was for £25K max payout but the BMW cover was £10K payout. Luckily I was well within the cooling off period.

[gavmobile]

Originally Posted by RobUK

If they're now saying they wont sell you GAP without Tyre and vice versa, then that's a new one on me. I got quotes from car2cover last year but ended up going with BMW as they matched the quotes I had (instead of the default rip-off price)

You can have GAP without tyre but not Tyre without GAP. I was shopping around yesterday and they all seem to have this rule now - same underwriter maybe

How does one calculate how much gap cover is needed? I was getting quotes on the basis of £25k cover as a guess but no point being under or over covered is there.

[Steve_M_Sport]

Originally Posted by gavmobile

You can have GAP without tyre but not Tyre without GAP. I was shopping around yesterday and they all seem to have this rule now - same underwriter maybe

How does one calculate how much gap cover is needed? I was getting quotes on the basis of £25k cover as a guess but no point being under or over covered is there.

The Sytner GAP is unlimited value. Started off wanting £800 but ended up at £295 for 3 years cover (10 months interest free credit too) - in practice 2 years as my insurers will replace the car for a new one in 1st year if damage is over 50% of the cars value.

[NISFAN]

Originally Posted by gavmobile

You can have GAP without tyre but not Tyre without GAP. I was shopping around yesterday and they all seem to have this rule now - same underwriter maybe

How does one calculate how much gap cover is needed? I was getting quotes on the basis of £25k cover as a guess but no point being under or over covered is there.

£25k seems way over the top for GAP, but as you never know exactly how much you need at the worst GAP period, you just accept the figure. The fact that it doesn't cost much more for £25k cover over lower amounts, leads me to believe that they don't usually have to pay out to the larger amounts.

[rich1068]

Slightly off topic but here's a little story if anyone still baulks at GAP after getting hold of a £20/30/40k motor.

I had an employee who took one of our company Peugeot vans home one night because he'd got an early start the next morning. As it happened he had a skin full, got into a row with his other half and went out in our van. He was spotted and chased by the police and he promptly crashed the van and got locked up. He obviously lost his job, was convicted and spent some time in Doncaster nick.

The van was an 18 month old Peugeot Expert and it was written off. After much wrangling with the insurance company we still came up over £2k short of what was owed to the finance company. And no point pursuing the ex-employee, that would be a waste of time. What I remember most is talking to the young CS advisor at Peugeot contract hire. She asked if we had GAP and I said no. So I asked if she had it on her vehicle. Her reply was "Yes because I spend all day talking to people like you who haven't"

[Rhino707]

Originally Posted by NISFAN

£25k seems way over the top for GAP, but as you never know exactly how much you need at the worst GAP period, you just accept the figure. The fact that it doesn't cost much more for £25k cover over lower amounts, leads me to believe that they don't usually have to pay out to the larger amounts.

It all becomes relevant in later years. A replacement car policy covering up to £25K over 3 years is around the £200 mark. If your £40K+ car was written off towards the end of that period you may only be getting £20K from the insurance. Assuming the equivalent spec car is £45K by that time, the £25K limit would be what was needed.

Obviously the above is the scenario in which the maximum payment would be made by the policy, but it does ensure peace of mind. As you say, that level of payout is only to be needed rarely, but for the relatively modest increase in the premium, why take the chance with anything less?

[RedPepper]

Originally Posted by Rhino707

It all becomes relevant in later years. A replacement car policy covering up to £25K over 3 years is around the £200 mark. If your £40K+ car was written off towards the end of that period you may only be getting £20K from the insurance. Assuming the equivalent spec car is £45K by that time, the £25K limit would be what was needed.

Obviously the above is the scenario in which the maximum payment would be made by the policy, but it does ensure peace of mind. As you say, that level of payout is only to be needed rarely, but for the relatively modest increase in the premium, why take the chance with anything less?

Wasn't the point of GAP that normally this would be to cover the difference between the value offered by the insurer and the outstanding finance? Therefore, you have a £40k car, prang it within 2 years and get offered £20k for the car that has £30k of finance, thus needing the £10k "gap".

The newer policies reinstate to a variety of points, including invoice value (for the entire duration of the policy) or the price of an equivalent car (even if BMW have put up their prices by a stupid amount).

The question I had when disposing of my nearly 3 year old Jag (with "return to invoice value" GAP on it) was... if I'm dishonest, I stage a prang to the car and my insurer gives me the current value (£20k) plus £24k to get back to the invoice price, whereas as an honest bloke, I sell the car to a dealer for £20k and end up potless.

I can see why insurance fraud is on the rise!!!

(ps: Having previously worked in insurance and currently in the banking and fraud industries, I ended up potless! )

[ZigmundUK]

Originally Posted by RedPepper

... you have a £40k car, prang it within 2 years and get offered £20k for the car ...

From what I can gather the BMW residuals are much better than that. I think it would only come down to 20k from a 40 start after at least 3 years - 4 if you're kind to the car.

[RedPepper]

Originally Posted by ZigmundUK

From what I can gather the BMW residuals are much better than that. I think it would only come down to 20k from a 40 start after at least 3 years - 4 if you're kind to the car.

Or unless you spec the car with lots of expensive toys? D'oh!

[ZigmundUK]

Originally Posted by RedPepper

Or unless you spec the car with lots of expensive toys? D'oh!

Yeah sadly the finance companies insist that very few things add value to the car long term. I disagree - you can see it in the sold prices of cars that many types of extra make them more desirable.

[RedPepper]

Originally Posted by ZigmundUK

Yeah sadly the finance companies insist that very few things add value to the car long term. I disagree - you can see it in the sold prices of cars that many types of extra make them more desirable.

Ah, finance companies and the real world ... if only!