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GAP insurance

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GAP insurance

Postby keyi » Mon May 29, 2017 6:45 am

Hi everyone
Ive just taken deliver of my 290 l1 h1 DCiV 170 limited, the invoice price is over £30k, ive waited over 3 months to take delivery and and now i have ive been thinking about GAP insurance. I have a couple of days left to take fords Asset Protection offer or go find my own. ive never had gap insurance so im not sure whats best to look for.
Fords offer is
pay the difference between my motor insurance and the invoice price
pay £250 towards my excess in the event of a claim
£139 12 months
299 24 months
399 36 months
499 48 months

does anyone have any advice on this?
many thanks
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Re: GAP insurance

Postby S60r » Mon May 29, 2017 7:49 am

My advice is don't take Fords or indeed any dealers in house GAP.

It's not only Ford who will rip you off, Mini and BMW want about 499 for 3 years gap.


There are maximum payouts in the small print also worth checking, I think ours won't cover any thing over 50% of initial value. I.e. If it's 20k invoice price the GAP won't cover anything over 10k but everything up to that value.


There are loads of companies out there doing GAP and you may be able to use a comparison website to compare but I used Chris Knott insurance, they have their own GAP and I paid £79 for 3 years cover on the wife's Mini. I don't have it on the Custom but you've made me think I should now look at it.
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Re: GAP insurance

Postby Mike » Mon May 29, 2017 8:40 am

Gap insurance is effectively included on some fully comp policies, have a look around, it's by far the most cost effective way of covering yourself.
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Re: GAP insurance

Postby bigjohnthomas » Mon May 29, 2017 11:07 am

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Re: GAP insurance

Postby ned » Mon May 29, 2017 11:13 am

Dumb question, what's gap insurance?. N
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Re: GAP insurance

Postby keeff » Mon May 29, 2017 11:56 am

Also ask if they pay the vat . If you are vat registered you can claim it again but if not you could be a lot short .


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Re: GAP insurance

Postby Mike » Mon May 29, 2017 12:58 pm

nedforceone wrote:Dumb question, what's gap insurance?. N


You buy a vehicle for £30k, drive it off the forecourt and it's then worth £17k, it gets stolen the next day and your insurance co pay you £17k, gap will pay the shortfall.
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Re: GAP insurance

Postby ned » Mon May 29, 2017 1:02 pm

Mike wrote:
nedforceone wrote:Dumb question, what's gap insurance?. N


You buy a vehicle for £30k, drive it off the forecourt and it's then worth £17k, it gets stolen the next day and your insurance co pay you £17k, gap will pay the shortfall.


Ah many thanks, another school day, if I ever get a new car/van I'll know to get that :P N
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viewtopic.php?f=27&t=168296
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Re: GAP insurance

Postby keyi » Wed May 31, 2017 6:29 pm

thanks everyone for your help
sorry for the late reply
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Re: GAP insurance

Postby keyi » Wed May 31, 2017 7:56 pm

hi again
ive just been intouch with my insurance (aviva) and they tell me that as the van is brand new i get 12 months cover not GAP but if the van is damaged at over 60% they will replace me with a brand new one to the same spec. does this sound good? im assuming that at over 60% the van will be written off
im unsure if i should take out GAP now or wait till next year
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Re: GAP insurance

Postby dumper » Wed May 31, 2017 8:25 pm

I was offered gap when I got my new car and was told that I had to take it out when I took delivery but may just have been the salesman trying to get himself a bit more commission I did not want it so do not know if that is true
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Re: GAP insurance

Postby S60r » Thu Jun 01, 2017 9:57 am

Yes brand new vehicles you will get new for old for 12 months on most fully comp policies. You can take GAP out at renewal next year. It may be included in some policies as Mike mentioned but if not add it on then. You won't need GAP and new for old as it does the same thing when dealing with a total loss. Just make sure you read the small print.
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Re: GAP insurance

Postby keyi » Thu Jun 01, 2017 6:47 pm

Thanks again everyone
I can rest easy for 12 months then
Cheers

Need to start looking for bigger wheels now the standard are shite lol
Nice rear spoiler will be nice too. Anyone know any good sellers?
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Re: GAP insurance

Postby S60r » Fri Jun 02, 2017 7:18 am

I have 18's and the spoiler.... and about 46 other mods :roll: :)

I wanted the m sport wheels but they are ridonculous money so went with the calibre odyssey in black. Aftermarket but well made with the correct weight loading for my DCIV.

The spoiler can be got painted in your colour (2 pieces in my barn door version obviously) I used an eBay seller, the fit isn't perfect and requires clamping overnight but the supplied adhesive is excellent. They don't tell you in the instructions it needs clamping but after contacting them........"it's what we do all the time" when asked to fit them.... was the reply.

Anyway after clamping overnight and a good hour or 2 of OCD fussing about spacing etc the fit is actually very good.


This is the seller but is the silver twin door version.... they do all colours and versions.

http://www.ebay.co.uk/itm/FORD-TRANSIT- ... SwJ7RYSAZs
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Re: GAP insurance

Postby bigjohnthomas » Fri Jun 02, 2017 10:03 am

:shock: 200 shelkels for a bit of fiberglass
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