Gap insurance

S

speed12

Member
Evening all

When I bought my coupe nearly three years ago I took out a the year return to invoice gap insurance policy.

It's going to run out early in Jan.

Has anyone here bothered to get gap for an older car owned for a while? Most policies seen to be limited to a car age of 7 years... And they only return to the 'mid' glass valuation whichever that is.

If anyone knows any decent deals let me know.
 
As far as I know you can only purchase gap insurance within 30 days of purchasing a car. After which point you cant? I bought 5 year gap on my zed which I got a refund on the difference come px. I then took the same 5 year GAP on the new X4 I bought!
 
I think there are some companies that will offer GAP even after 3 months of ownership but they seem to limit the age of the car :-s
 
Ok.. My zed was almost 5 years old when I bought it and with the 5 year policy it covered me to its 10th birthday.
 
speed12 said:
Evening all

When I bought my coupe nearly three years ago I took out a the year return to invoice gap insurance policy.

It's going to run out early in Jan.

Has anyone here bothered to get gap for an older car owned for a while? Most policies seen to be limited to a car age of 7 years... And they only return to the 'mid' glass valuation whichever that is.

If anyone knows any decent deals let me know.
Click to expand...

http://www.GapInsurance.co.uk will be able to provide you with a form of extension/renewal of your Invoice GAP insurance policy for 12 or 24 months regardless of who you bought the original policy from. Though you have to buy it before your original policy expires.

All other companies that will provide you with a policy will be one that's based (in one form or another) on what your car is worth at the time you buy the policy (considerably less than your original purchase price) and therefore not remotely comparable.

You'll need to speak with them though as they don't allow such a renewal to be purchased via their website.
 
I have gap insurance on my current car with ALA. you can renew it before it expires... However on a car older than 5 yrs it probably isnt worth it as the insurance premium alone could be 10% of the cars value.
 
aquazi said:
I have gap insurance on my current car with ALA. you can renew it before it expires... However on a car older than 5 yrs it probably isnt worth it as the insurance premium alone could be 10% of the cars value.
Click to expand...

Except it isn't really a renewal that ALA offer. The further cover they offer at the point of expiry is a Retail Value GAP insurance policy based on the depreciated value of your vehicle at the time of taking the additional policy out.

The company I linked to in my previous post will offer you further cover based on the original purchase price you paid for it (if your original policy was Invoice GAP insurance), or the New-For-Old replacement price (if your vehicle was bought brand new and your original policy was Replacement GAP insurance).

It also doesn't matter where you bought your original policy from either and you can keep renewing/extending that cover until the vehicle is 10yrs old.
 
Thanks flipsnacker I will give them a call tomorrow. I paid £11.5k for my coupe in Jan 2013 so of compared to a trade in value now then I could be looking at a big loss if I or someone else wrote it off.

Depends how much they charge for the Cover I guess!
 
You must log in or register to reply here.
Back
Top Bottom