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1K views 0 replies 1 participant last post by  gapinsurance.co.uk 
#1 ·
If you've bought a car in the last 12 months or planning on buying a new car soon, have you considered GAP insurance?

In the event that your vehicle is written off as a result accident, fire, theft, flood etc, your Motor Insurer will only pay you what they deem the vehicle to have been worth at the time of loss (the "Market Value"). GAP insurance steps in as follows:

Contract Hire GAP insurance: (link)

The market value payout from your Motor Insurer will go straight to the finance company... in the event that it's lower than the settlement figure the finance company pursue you for (they'll normally want some or all of the outstanding rentals too), Contract Hire GAP insurance aims to pay the difference between your motor insurance payout and the amount required to settle the remaining balance of your lease agreement at the time of claim. It's also possible to pay a small additional premium at the time of buying the policy in order to ensure that if there is a valid claim on the GAP insurance policy, you'd be reimbursed up to £3,000 of the initial rental that you paid as part of your lease agreement - which you can then use against the cost of starting a new lease on a new vehicle (rather than having to find an initial rental amount out of your own pocket).

Invoice GAP insurance: (link)

Aims to pay the difference between your Motor Insurance payout and the greater of either:

1. The amount outstanding on finance at the time of claim (f any), OR
2. The original invoice price that you paid for the vehicle.

Replacement GAP insurance (link)

Aims to pay the difference between your Motor Insurance payout and the greater of either:

1. The amount outstanding on finance at the time of claim (if any), OR
2. The original invoice price that you paid for the vehicle, OR
3. What it would cost at the time of claim to replace your vehicle with a brand new (assuming you bought the vehicle brand new) version of the same (or nearest equivalent) vehicle at the time of claim - even if the replacement vehicle costs more than you bought the vehicle for first time around.

Our Prices:

Our prices are up to 85% cheaper than those of a Motor Dealer AND BimmerForum members get a further 10% discount by using discount code "BIMMERF10"

Cover Features

  • Available for new or used cars bought up to 12 months ago
  • Available for cars bought for up to £150,000
  • £Unlimited Claim Limits available
  • Durations of 1, 2, 3, 4 or 5 year
  • Defer the start date by up to 1 year if you have New-For-Old cover with your Motor Insurer (Caution. See here)
  • No Cancellation / Transfer or Admin Fees if you need to make changes to or cancel your policy
  • Daily pro-rata rebates if you cancel your policy early
  • Invoice or (superior) Replacement GAP insurance available for both new and used cars
  • Replacement GAP insurance with "Invoice Price Protection" (in case the replacement price of the vehicle has fallen by the time of claim)
  • Cash payouts (we won't force you to spend the amount paid out on any particular vehicle from any particular dealership)


Additional Products:


In addition to GAP insurance, we can also offer the following additional products and the discount code, "BIMMERF10" works with those too:


See: www.gapinsurance.co.uk or call 01943 850999 for more details.
 
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