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GAP Insurance - Claim limit...

Discussion in 'A3/S3/Sportback (8P Chassis)' started by newbiecrg, Mar 3, 2007.

  1. newbiecrg
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    newbiecrg windsurfer

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    [Mar 3, 2007]
    Hi, just shopping GAP for my S3, any advice on the claim limit? It changes the premium...

    Best quote so far £266 from getmegap for Return to Invoice with a claim limit of £25000...

    Thanks
    Pedro
    #1
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  3. h5djr
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    h5djr Well-Known Member VCDS Map User

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    [Mar 3, 2007]
    I've just got a deal through my dealer of £225 for 3 years Return to Invoice with a claim limit of £15,000. Remember the claim limit only has to make up the difference between what the insurance company payout for a total loss and the original price.

    I managed to talk the dealers into the £225 price by showing them an Internet quote of £205 with AXA from www.surfandprotect.com. The dealers original price was £399 and they said they could not match the quote but would go down to £225 which I accepted.
    #2
  4. markwiggy
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    markwiggy Third Gear

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    [Mar 3, 2007]
    Bought mine from the dealer, covers full value my car. First quote from them was £600, after some hard bargaining got them down to £200. Used the fact they gave me no discount on the car as a bargaining tool
    #3
  5. newbiecrg
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    newbiecrg windsurfer

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    [Mar 3, 2007]
    Thanks, the dealer has told me £399 but I will take some internet quotes and the fact that I did not get a discount to bring that down!

    Pedro
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  6. RobinA3
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    RobinA3 Well-Known Member

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    [Mar 3, 2007]
    My GAP policy was £250 from Audi without any bargaining, they just said it was £250 which i thought was a standard rate
    #5
  7. Dandle
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    Dandle Member

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    [Mar 3, 2007]
    We have used click4gap.com which is covered by hitachi finance. 3 years and £25k return to invoice for £229.
    #6
  8. emzino
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    emzino Active Member

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    [Mar 3, 2007]
    What does the GAP insurance do? Sorry for the dump question =/
    #7
  9. a3guy
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    a3guy Member

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    [Mar 3, 2007]
    its a handy insurance policy so that when you get bored of your car after 2 years 11 months you can crash it into a tree or set fire to it , and you will get back exactly what you paid for it in the first place.:laugh:
    #8
  10. prt57
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    prt57 Member

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    [Mar 3, 2007]
    Whilst picking up my new S3 today the finance chap tried to get me to sign up for gap. The Audi policy is expensive and is only return to invoice and not new for old. Surf and protect or click 4 gap do new for old if you want to pay a bit extra.
    To try and make me spend my money with him he tried to say that some companies are poor at paying out.
    How true is this and what would they do to wriggle out of paying!!

    Peter
    #9
  11. h5djr
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    h5djr Well-Known Member VCDS Map User

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    [Mar 4, 2007]
    If your car is stolen or is a write-off due to an accident, Return to Invoice GAP Insurance makes up the difference between what your insurance comapny pay out for your car and what you paid for it when you bought it.

    There are normally 3 levels than you can buy. 1. Makes up the difference on any outstanding finance, 2. Return to Invoice pays the difference back to the Invoice price and 3. Pays the difference back to the cost of a new similar model. 1 is the cheapest and 3 is the most expensive.
    #10
  12. steve184
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    steve184 Active Member

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    [Mar 4, 2007]
    IMO opinion this is pointless and i have not taken this out on my car. One, all car insurance is new for old for the first year anyway (if you buy brand new and are the first registered keper) so straight away you are only gettin 2 years cover for your money. Two, (for me) i rarely keep cars for more than about 2 and a half years so this would reduce the benefeit down further. and three you would have to an awful, awful amount of damage to a new car costing 20-odd thousand - the typical threshold is 60% which means on a 20k car (is there many audis bought for less than this brand new??) you would have to do over £12,000 worth of damage to write it off - thats a hell of a bang and a mess of a car, and probably a very hurt driver!

    It would be interesting to know the exact figures for this scheme - i reckon out of every 1000 brand new cars sold about 20 would be written off in first 3 years - this is a hell of a profit! My summary: Its a tiny tiny benefit that serves more for making dealers money.
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  13. h5djr
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    h5djr Well-Known Member VCDS Map User

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    [Mar 4, 2007]
    Yes but what happens if you car is say 18 months old and gets stolen. Your insurance company will pay out the current markey value for your 18 month old car, which will be a lot less than you paid for it and a lot less than you will need to buy a new one.

    If my car was stolen and my insurance company offered even £18,000 and my £24,000 car I would need to find £6,000 out of my own pocket to replace it. If the car was 2.5 years old I would need yo find in the order of £12,000. With the GAP insurance my normal insurance company will pay me the current market value and the GAP insurer will make up the difference between that amount and the original invoice value. Sounds like good value to me.
    #12
  14. newbiecrg
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    newbiecrg windsurfer

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    [Mar 4, 2007]
    Yeah! I will get it to my S3 as well... After all it's only £7 a month... I think I can not have 3 pints and sleep well at night...

    Pedro
    #13
  15. normski
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    normski Member

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    [Mar 4, 2007]
    Down in this part of the midlands, the local armed robbers can't get enough of S3's, and I fully expect some time over the next three years when I get mine to have my house screwed or get held up at traffic lights etc. If it doesn't happen it will be a bonus.

    Gap insurance...I think so
    #14
  16. steve184
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    steve184 Active Member

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    [Mar 5, 2007]
    Simple... diesels don't get stolen, 2.0T petrols do (inc S3)

    For me i do believe it is a waste of money.
    #15
  17. newbiecrg
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    newbiecrg windsurfer

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    [Mar 6, 2007]
    Do I notice a little something about fast petrols here....

    Joking Steve ;)

    Pedro
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