 | Home > Puma (Tdci) > Gap insurance??? |
 
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| kingofthesparks Member Since: 06 Jan 2011 Location: Very close to Watford gap services , northants Posts: 987   
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insured my puma with nfu , new for old cover for first two years so did not need gap, residual values so high that gap probably not that important on defender, mine is 6 months old, just got a valuation from we buy any car ( not selling just curious) they valued at £1000 more than i paid, tempting to sell
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28th Feb 2011 9:17pm |
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| BigRuss Member Since: 15 May 2010 Location: Norfolk Posts: 2785 
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Same Russell 2011MY 110 XS USW Black |
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28th Feb 2011 9:25pm |
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| s18mcn Member Since: 11 Feb 2011 Location: cambs Posts: 51 
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Mines a 57 reg brought privately was thinking it mint be worth doing??
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28th Feb 2011 9:28pm |
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| kingofthesparks Member Since: 06 Jan 2011 Location: Very close to Watford gap services , northants Posts: 987
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Your choice, normal process if you get a total loss write off is insurance will offer lowest figure, you refuse then supply them with loads of info , cuttings from autotrader etc to prove true values, they will then agree better figure,never accept first figure offered from insurance for total loss, my brother works for major underwriter and told me how it works
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28th Feb 2011 9:34pm |
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| party monkey Member Since: 31 Dec 2010 Location: Oxon. Posts: 1311  
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I don't think I could afford to insure the number of gaps I've got on my 110
(Sorry - couldn't resist) Jon - 110 td5 [sold]. Currently Defenderless. |
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1st Mar 2011 9:17am |
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| Blaserman Member Since: 23 Sep 2008 Location: Herefordshire Posts: 46 
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I looked at this for my new toy but after all of the digging and question asking I decided it was a con. The dealer told me it would cover the difference between what the insurance company offered and the original purchase price in the event of total loss, everything I managed to find out revealed it would cover the difference between the insurance offer and the amount left on finance meaning you would not have to find that difference to clear the existing finance. With the defender holding its value so well, the chance of there being a deficit would be minimal unless you only put a small deposit down. From my past experience the insurance have always covered the remaining finance.
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1st Mar 2011 2:15pm |
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| Surrey Rover Member Since: 20 Dec 2010 Location: Surrey Posts: 360 |
Reading through this site I am amazed that Defenders are holding their money so well. Things must have changed in the last 5 or 6 years as when I was selling my two year old Td5 I almost had to give it away.
Perhaps the lack of anti 4X4 articles in the newspapers these days and the recent snow has helped pushed the values back up? I got my dealer to throw in the gap insurance as part of the price when I bought my last new one, knowing how bad insurance companies are at under valuing in their favor I would be tempted to pay for it personally. |
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1st Mar 2011 3:05pm |
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| BigMike Member Since: 13 Jul 2010 Location: Lancashire Posts: 2253
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As far as I'm aware you cant take out gap insurance on a car that's older than 3 years. Could be wrong and would be happy to be corrected. Also, its generally used for when a car is financed so that in the event of total loss the market value the insurer is prepared to pay (lower than the purchase price) will not leave a shortfall in the finance ie the gap insurance covers the "gap" |
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1st Mar 2011 3:14pm |
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