Brand New Car Insurance Value

>> insuring a new car ... Admiral say that any claims will be paid at market value

Some/most insurers have a standard clause that says for a new car (ie from a UK dealer with you being the legal owner and first registered keeper), if there's a total loss within the first year they will pay to replace the car with an equivalent new one. The market value stuff doesn't apply until the second year.

I always look for that clause when insuring a new car and wouldn't touch an insurer that doesn't offer it.

Also, some GAP policies I looked at are only valid (or perhaps cheaper) if your main insurance has this clause.
 
I rang up BMW Insurance for a quote.
They told me to use the sales price (£28,xxx) as value. On the quote they rounded this up to £30,000. Probably the top of the band that includes 28,xxx.



Hadn't thought about gap insurance. On an American lease, GAP insurance is included on all BMW FS lease contracts. If your car is a total loss, US gap insurance pays off any difference between the insured value and the finance settlement.
 
Thought I would update with my GAP Insurance findings / purchase.

Have put them here for people: http://www.z4-forum.com/forum/viewtopic.php?f=2&t=34430
 
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