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Insurance and options

steve184 Mar 4, 2008

  1. steve184

    steve184 Active Member

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    Has anyone ever checked if their factory fitted options are covered/paid for in the event of a total loss - or have you all 'assumed it is' simply because you have disclosed them?
     
  2. h5djr

    h5djr Well-Known Member VCDS Map User Gold Supporter quattro Audi A3

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    My insurance policy with Norwich Union Direct has the following wording...

    The cover also applies yo your car's accessories and spare parts while they are in or on your car or in your private garage. We will also pay for loss or damage to, your car's audio equipment or satellite navigation system (up to £500, unless it was fitted by the manufacturer).

    When I asked some time ago, before I took out my first policy with them, I was told the car and all it's options would be covered, although I may need to provide a copy of the original purchase invoice showing what options were fitted, particularly in the case of a full replacement vehicle if it was lost, stolen or the cost of repairing any damage is more than 60% of the UK list price (including car tax and VAT)
     
  3. steve184

    steve184 Active Member

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    up to £500 doesn't really cover £4k worth of options though does it? (not suggesting you do have this but some people do)

    Plus new for old is only in first year - after that you just get market value - the question is market value of a standard car or equivalent with options

    Its a bit of a minefield when you get into it
     
  4. h5djr

    h5djr Well-Known Member VCDS Map User Gold Supporter quattro Audi A3

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    The £500 limit is only if they are NOT fitted by the manufacturer. All manufacturer fitted items are covered. The only Sat/Nav type equipment I have that was not fitted by the manufacturer is my Micro Go which is worth a lot less than £500. All my other Sat/Nav is on my removeable PDA which is covered by other insurance.

    The difference between what they would pay now my car is more than one year old would be covered back to the original purchase price including all the options by my GAP insurance.

    I suppose anyone who fits things like a RNE-S system themselves may have a problem.
     
  5. N8

    N8 Kowalski Details VCDS Map User

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    I've got GAP so if mine is written off I get my full £27k back. All good for me...
     
  6. h5djr

    h5djr Well-Known Member VCDS Map User Gold Supporter quattro Audi A3

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    You insurance would cover the market value of your car and your GAP would make up the difference to your original purchase price, but who would pay for the mods?
     
  7. RHODIE

    RHODIE Member

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    Dave I was insured with NU but when I went to renew they said options were not covered which is why I'm with LV now
     
  8. N8

    N8 Kowalski Details VCDS Map User

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    Well I'm cover for my mods as well...
     
  9. PNH80

    PNH80 Low life livin' the high life.

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    Would you guys with GAP definitely recommend it? I turned it down when buying my car basically because the dealer was boring me to death and it just sounded like more salesman bulls**t trying to squeeze more money out of me. In retrospect though if it's definitely worth the extra, i'd consider it.
     
  10. h5djr

    h5djr Well-Known Member VCDS Map User Gold Supporter quattro Audi A3

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    Personally I would recommend it. Don't pay the price the dealer is asking for it though. Get some prices on the internet and take those along and see if the dealer will match them, otherwise go with one of the internet quotes.
     
  11. Kontraband

    Kontraband Active Member

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    yeah, Id recommend it... because the small outlay once is better than being 5k outta pocket in year 3 (for example)

    Only of any use in a finance/lease situation in my mind for some reason?
     
  12. Juniper44

    Juniper44 Member

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    Make sure you tell your insurance company everything you added as an extra otherwise it is usually not insured, if your car is a total loss they will only replace with a new car without the mods.

    I went through all the posts regarding this when I was insuring my new S3.

    With regards to GAP insurance - a definite for me finance or no finance as it just covers the depreciation for 3 years which is when most cars depreciate the most. I took some internet quotes with me and even though Audi couldnt match it they came close and was happier to go with them than someone I had never heard of.

    Hope this helps
     
  13. Juniper44

    Juniper44 Member

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    Make sure you tell your insurance company everything you added as an extra otherwise it is usually not insured, if your car is a total loss they will only replace with a new car without the mods.

    I went through all the posts regarding this when I was insuring my new S3.

    With regards to GAP insurance - a definite for me finance or no finance as it just covers the depreciation for 3 years which is when most cars depreciate the most. I took some internet quotes with me and even though Audi couldnt match it they came close and was happier to go with them than someone I had never heard of.

    Hope this helps
     
  14. Juniper44

    Juniper44 Member

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    Make sure you tell your insurance company everything you added as an extra otherwise it is usually not insured, if your car is a total loss they will only replace with a new car without the mods.

    I went through all the posts regarding this when I was insuring my new S3.

    With regards to GAP insurance - a definite for me finance or no finance as it just covers the depreciation for 3 years which is when most cars depreciate the most. I took some internet quotes with me and even though Audi couldnt match it they came close and was happier to go with them than someone I had never heard of.

    Hope this helps
     
  15. h5djr

    h5djr Well-Known Member VCDS Map User Gold Supporter quattro Audi A3

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    Why only for a finance/lease situation. I have purchased my A3 for cash with no finance involved but I have 'return to original invoice cost' GAP insurance. If my car was stolen or a total write-off, all I would have to find to replace the car would be the difference in cost between when I purchased it and the current list price.
     
  16. Kontraband

    Kontraband Active Member

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    I dont know... I guess because Ive only used it when I was using someone else money in the first place... Not saying Im right by anymeans... cause I dont think I am... :jester:
     
  17. RobB

    RobB Member

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