I had some options fitted to my car, though for a paltry sum in comparison, but I verified with GapInsurance.co.uk that their policies will cover the cost of genuine manufacturer options fitted to the vehicle at the time of purchase.
To clarify, some other providers will only cover options up to a maximum value (I think I saw one with a limit of £1,500), but with full cover for genuine manufacturer options, with Invoice Gap Insurance it means that no deduction would be made on the basis of Options having formed part of the original purchase price (unless they were non-manufacturer options), or with Replacement Gap Insurance it means that when determining the cost of the new vehicle at the time of claim, they'll account for the cost of the same options on the new vehicle (where applicable).
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GAP insurance, experiences with
Re: GAP insurance, experiences with
I'm referring to the m/v of car in say 2.5 years time
If it gets written off then and insurers say it is only worth £25k now because those options dont hold their value and are personal to me then insurers pay me £25k Gap provider pays me £25k therefore I only have £50k out of total invoice of £62k
If it gets written off then and insurers say it is only worth £25k now because those options dont hold their value and are personal to me then insurers pay me £25k Gap provider pays me £25k therefore I only have £50k out of total invoice of £62k
Currently :
2012 Audi RS4 (B8)
2012 Porsche Boxster S (981)
2008 Lotus Exige S (a bit modified!)
2015 Nissan Leaf twin turbo with Nitros
Previously :
2008 BMW X5 3.0sd MSport
2005 BMW 535d MSport
2012 Audi RS4 (B8)
2012 Porsche Boxster S (981)
2008 Lotus Exige S (a bit modified!)
2015 Nissan Leaf twin turbo with Nitros
Previously :
2008 BMW X5 3.0sd MSport
2005 BMW 535d MSport
Re: GAP insurance, experiences with
[quote=""VaioMan""]I had some options fitted to my car, though for a paltry sum in comparison.[/quote]
Unfortunately playing in the BMW/Merc/Audi/Porsche toys shops tends to get expensive as none of them are particularly 'generous' with their standard equipment fits though...
I think my bill after 'shopping' was about £14k to bring the car spec up to what I wanted
Buying GAP insurance does indeed need to cover that side properly too. I bought the 'Return to Invoice' version which covers the lot. I have the BMW version, although with a large discount.
Unfortunately playing in the BMW/Merc/Audi/Porsche toys shops tends to get expensive as none of them are particularly 'generous' with their standard equipment fits though...
I think my bill after 'shopping' was about £14k to bring the car spec up to what I wanted
Buying GAP insurance does indeed need to cover that side properly too. I bought the 'Return to Invoice' version which covers the lot. I have the BMW version, although with a large discount.
Never anthropomorphise computers. They hate that.
Re: GAP insurance, experiences with
I have return to invoice as well for the £195 for £25k.
Hope to never need it, but £25k cover for £195 seemed good value (unlike the BMW offering for something like £500 for £10k).
Hope to never need it, but £25k cover for £195 seemed good value (unlike the BMW offering for something like £500 for £10k).
X5M F85, Golf Clipper, Abarth 595 Competizioni, Jeep
911 50th anniversary -
Site & Forum Admin Team Member.
911 50th anniversary -
Site & Forum Admin Team Member.
Re: GAP insurance, experiences with
[quote=""535dboy""]I'm referring to the m/v of car in say 2.5 years time
If it gets written off then and insurers say it is only worth £25k now because those options don't hold their value and are personal to me then insurers pay me £25k Gap provider pays me £25k therefore I only have £50k out of total invoice of £62k[/quote]
Yeah I know... but like X5Sport says:
[quote=""X5Sport""]Buying GAP insurance does indeed need to cover that side properly too.[/quote]
Earlier you said your base price was £45k with options for £17k.
I'm sure I read one of the Gap Insurance Providers only covered up to £1,500 of options, so for the sake of example, let's assume that's what you have... this means that they would define your original purchase price as no more than £46.5k (£45k + £1,500).
So your car is written off and your Motor Insurance company offer to pay you £25k... your Invoice Gap Insurance policy, with a £25k claim limit steps in to pay the difference between your motor insurance payout and what they view as your £46.5k purchase price... the difference here is only £21,500 so that's all you'd get.
Hence, whatever Claim Limit you go for, from whichever Gap Insurance provider you choose, with these types of sums involved in manufacturer and/or dealer fitted Options, it'll pay to ensure the Gap Insurance policy is correctly aligned to cover as much of the cost of those options as possible!
If it gets written off then and insurers say it is only worth £25k now because those options don't hold their value and are personal to me then insurers pay me £25k Gap provider pays me £25k therefore I only have £50k out of total invoice of £62k[/quote]
Yeah I know... but like X5Sport says:
[quote=""X5Sport""]Buying GAP insurance does indeed need to cover that side properly too.[/quote]
Earlier you said your base price was £45k with options for £17k.
I'm sure I read one of the Gap Insurance Providers only covered up to £1,500 of options, so for the sake of example, let's assume that's what you have... this means that they would define your original purchase price as no more than £46.5k (£45k + £1,500).
So your car is written off and your Motor Insurance company offer to pay you £25k... your Invoice Gap Insurance policy, with a £25k claim limit steps in to pay the difference between your motor insurance payout and what they view as your £46.5k purchase price... the difference here is only £21,500 so that's all you'd get.
Hence, whatever Claim Limit you go for, from whichever Gap Insurance provider you choose, with these types of sums involved in manufacturer and/or dealer fitted Options, it'll pay to ensure the Gap Insurance policy is correctly aligned to cover as much of the cost of those options as possible!
Re: GAP insurance, experiences with
Agreed
Thanks
Thanks
Currently :
2012 Audi RS4 (B8)
2012 Porsche Boxster S (981)
2008 Lotus Exige S (a bit modified!)
2015 Nissan Leaf twin turbo with Nitros
Previously :
2008 BMW X5 3.0sd MSport
2005 BMW 535d MSport
2012 Audi RS4 (B8)
2012 Porsche Boxster S (981)
2008 Lotus Exige S (a bit modified!)
2015 Nissan Leaf twin turbo with Nitros
Previously :
2008 BMW X5 3.0sd MSport
2005 BMW 535d MSport
Re: GAP insurance, experiences with
OP, I too am looking into GAP Insurance, albeit not for a new car...I guess this gives you options for either Return to Invoice or Replacement Vehicle with variations on this theme if you are financing the purchase?
Points I've been advised/suggested to look out for are:
1. Is the actual underwriter/insurer a UK company and therefore fully authorised by the FSA but also you are covered by the Financial Services Compensation Scheme...some policies are provided by overseas underwriters/insurers - mostly in Gibralter, okay not as bad as some other countries but although registered with the FSA to transact in the UK they are not fully authorised and there's no compensation under the FSCS as you'd have to look at the arrangements offered in Gibralter...which are not as stringent as the UK.
The thought here is not so much now but in a few years - will the overseas insurer still be around, have they sold their book of business to another insurer somewhere else etc, at least with the UK legislation this is not so easy to do...but not impossible...however UK legislation protecting the consumer is up there with the best.
the insurers used by ALA and Frank Pickles (www.gapinsurance.co.uk) are UK companies - although not really well known names - I'm sure there are other GAP Insurance products underwritten by UK insurers - but I'm still going through the list...
2. Other posts already discuss the amount insured, and you've already noted you are likely to require more than GBP25K...and also duration of the policy period...3, 4 even 5 years...
3. Similarly other posts also mention whether manufacturer and/or dealer options are included in the cover or not or have a set limit...I've also noted there's even a definition of what is a 'dealer' - in other words only the brand main dealer rather than any other type of dealer (whether registered as a motor trader or not)...and specific option exclusions such as paint/trim protection etc...
4. For the most part policies only pay out providing you have a successful claim on your underlying motor insurance - some GAP insurers insist the underlying motor insurance is comprehensive, others are okay with TPF&T etc but then the GAP insurance is the same.
5. This becomes interesting where say your vehicle is a total loss following theft using your vehicle's keys which have also been taken...the increasing statistics on this type of occurrence is evident, including where the spare key is taken...you would need to prove you still have both keys for a claim payout for example...
Are you covered for this eventuality with your underlying motor insurance?
Furthermore whether you are or not - the GAP insurance may exlcude this cover anyway - there's an intriguing exclusion regarding this even in the www.gapinsurance.co.uk policy wording conversely www.car2cover.co.uk does include this cover however their insurer is a Gibralter registered company...
I've even come across an exclusion of cover where the vehicle is left continuously unattended for more than 7 days...not good if you've left the vehicle at the airport car park during a holiday...
6. No matter what the final invoice price you pay - some GAP insurance still limit the maximum value of the vehicle to that shown in Glass' Guide...so hopefully you've not been over sold, but with a new vehicle that is far less likely than a second hand purchase where the dealer has a profit to accomodate.
7. For using the vehicle overseas, some limit to a total number of days over each 12 months (90 days for www.gapinsurance.co.uk) and others just have a limit for each trip (usually 60 days) with no limit on number of trips...
Another exlcusion is if the total loss occurs outside the covered countries...so if the car is found in Russia (thanks to the fitted tracking device or telematics system) and is considered a total loss (burnt out or materially damaged beyond economical repair...parts removed etc) then you'll get no payout...now this is a debateable matter as to where the event actually occurred...but for a big claim, any opportunity to wriggle out is highly likely...
8. Civil commotion and riot in the UK exclusions - could be an issue...as are exlcuions relating to provisionally licenced drivers...not to mention excluions arising from driver intoxication etc...
A tough exclusion in this category is where the driver at the time of the incident giving rise to the claim was driving illegally (again www.gapinsurance.co.uk) as this could imply that if you were even speeding or driving without due care and attention and successfully prosecuted for the offence, then you'd not be covered.
Quite a minefield...and I'm still trawling through to see where it ends...
On the whole though I am surpisred by the online mob as I thought their prices were too good to be true but in fairness they aren't bad compared with the manufacturer branded GAP insurance products which are much more expensive and have just as many negative terms and conditions, lower payout amounts, even excesses/deductibles and bad exclusions to boot.
A good topic you raise and good luck to finding a policy...
I started with a google search and began at these web pages:
http://www.which.co.uk/money/insurance/ ... ce-review/
http://www.gapinsurancereviews.co.uk/
http://www.moneysupermarket.com/communi ... ageIndex=1
...before moving on to individual GAP insurance websites...
Points I've been advised/suggested to look out for are:
1. Is the actual underwriter/insurer a UK company and therefore fully authorised by the FSA but also you are covered by the Financial Services Compensation Scheme...some policies are provided by overseas underwriters/insurers - mostly in Gibralter, okay not as bad as some other countries but although registered with the FSA to transact in the UK they are not fully authorised and there's no compensation under the FSCS as you'd have to look at the arrangements offered in Gibralter...which are not as stringent as the UK.
The thought here is not so much now but in a few years - will the overseas insurer still be around, have they sold their book of business to another insurer somewhere else etc, at least with the UK legislation this is not so easy to do...but not impossible...however UK legislation protecting the consumer is up there with the best.
the insurers used by ALA and Frank Pickles (www.gapinsurance.co.uk) are UK companies - although not really well known names - I'm sure there are other GAP Insurance products underwritten by UK insurers - but I'm still going through the list...
2. Other posts already discuss the amount insured, and you've already noted you are likely to require more than GBP25K...and also duration of the policy period...3, 4 even 5 years...
3. Similarly other posts also mention whether manufacturer and/or dealer options are included in the cover or not or have a set limit...I've also noted there's even a definition of what is a 'dealer' - in other words only the brand main dealer rather than any other type of dealer (whether registered as a motor trader or not)...and specific option exclusions such as paint/trim protection etc...
4. For the most part policies only pay out providing you have a successful claim on your underlying motor insurance - some GAP insurers insist the underlying motor insurance is comprehensive, others are okay with TPF&T etc but then the GAP insurance is the same.
5. This becomes interesting where say your vehicle is a total loss following theft using your vehicle's keys which have also been taken...the increasing statistics on this type of occurrence is evident, including where the spare key is taken...you would need to prove you still have both keys for a claim payout for example...
Are you covered for this eventuality with your underlying motor insurance?
Furthermore whether you are or not - the GAP insurance may exlcude this cover anyway - there's an intriguing exclusion regarding this even in the www.gapinsurance.co.uk policy wording conversely www.car2cover.co.uk does include this cover however their insurer is a Gibralter registered company...
I've even come across an exclusion of cover where the vehicle is left continuously unattended for more than 7 days...not good if you've left the vehicle at the airport car park during a holiday...
6. No matter what the final invoice price you pay - some GAP insurance still limit the maximum value of the vehicle to that shown in Glass' Guide...so hopefully you've not been over sold, but with a new vehicle that is far less likely than a second hand purchase where the dealer has a profit to accomodate.
7. For using the vehicle overseas, some limit to a total number of days over each 12 months (90 days for www.gapinsurance.co.uk) and others just have a limit for each trip (usually 60 days) with no limit on number of trips...
Another exlcusion is if the total loss occurs outside the covered countries...so if the car is found in Russia (thanks to the fitted tracking device or telematics system) and is considered a total loss (burnt out or materially damaged beyond economical repair...parts removed etc) then you'll get no payout...now this is a debateable matter as to where the event actually occurred...but for a big claim, any opportunity to wriggle out is highly likely...
8. Civil commotion and riot in the UK exclusions - could be an issue...as are exlcuions relating to provisionally licenced drivers...not to mention excluions arising from driver intoxication etc...
A tough exclusion in this category is where the driver at the time of the incident giving rise to the claim was driving illegally (again www.gapinsurance.co.uk) as this could imply that if you were even speeding or driving without due care and attention and successfully prosecuted for the offence, then you'd not be covered.
Quite a minefield...and I'm still trawling through to see where it ends...
On the whole though I am surpisred by the online mob as I thought their prices were too good to be true but in fairness they aren't bad compared with the manufacturer branded GAP insurance products which are much more expensive and have just as many negative terms and conditions, lower payout amounts, even excesses/deductibles and bad exclusions to boot.
A good topic you raise and good luck to finding a policy...
I started with a google search and began at these web pages:
http://www.which.co.uk/money/insurance/ ... ce-review/
http://www.gapinsurancereviews.co.uk/
http://www.moneysupermarket.com/communi ... ageIndex=1
...before moving on to individual GAP insurance websites...
2007 (57) MY07 Titanium Silver E70 X5 SE 5S 4.8i V8 Auto
Re: GAP insurance, experiences with
Wow thanks for the great post, I'm still working at the minute so will review more later
Thanks again
Thanks again
Currently :
2012 Audi RS4 (B8)
2012 Porsche Boxster S (981)
2008 Lotus Exige S (a bit modified!)
2015 Nissan Leaf twin turbo with Nitros
Previously :
2008 BMW X5 3.0sd MSport
2005 BMW 535d MSport
2012 Audi RS4 (B8)
2012 Porsche Boxster S (981)
2008 Lotus Exige S (a bit modified!)
2015 Nissan Leaf twin turbo with Nitros
Previously :
2008 BMW X5 3.0sd MSport
2005 BMW 535d MSport
Re: GAP insurance, experiences with
No problem - looks like there's a few of us going through this just now, just hope there's a GAP policy out there that covers the amount you need as GBP25K seems nowhere near enough, even over just 1 year...let alone over 3, 4 or 5 years...
2007 (57) MY07 Titanium Silver E70 X5 SE 5S 4.8i V8 Auto
Re: GAP insurance, experiences with
Good post doc 
X5M F85, Golf Clipper, Abarth 595 Competizioni, Jeep
911 50th anniversary -
Site & Forum Admin Team Member.
911 50th anniversary -
Site & Forum Admin Team Member.
Re: GAP insurance, experiences with
Very useful.....and the lesson as usual being read the fine print and keep a healthy mistrust of insurers!!
Interesting tip about overseas companies and the level of cover. I don't know whether the FSA has special rules (such as a bond being required?) if the underlying insurer is 'offshore'. Certainly one to watch for...
I suppose as ever, if something is a lot cheaper then there may well be a very good reason and in these sorts of cases it will be the 'exclusions' that are put into the policy to lower the insurers risk level that, heaven forbid, they might actually have to pay up. Some terms/limits/exclusions may come under the 'unfair contracts' clauses, but in all likelihood that would need court action to test them.
Definitely a case of buyer beware....
Nice post..
Interesting tip about overseas companies and the level of cover. I don't know whether the FSA has special rules (such as a bond being required?) if the underlying insurer is 'offshore'. Certainly one to watch for...
I suppose as ever, if something is a lot cheaper then there may well be a very good reason and in these sorts of cases it will be the 'exclusions' that are put into the policy to lower the insurers risk level that, heaven forbid, they might actually have to pay up. Some terms/limits/exclusions may come under the 'unfair contracts' clauses, but in all likelihood that would need court action to test them.
Definitely a case of buyer beware....
Nice post..
Never anthropomorphise computers. They hate that.Re: GAP insurance, experiences with
Indeed caveat emptor...the FSA have different levels of regulation applying to UK insurers versus overseas insurers...however the Financial Services Compensation Scheme on the whole only protects consumers using UK insurers...and the Insurance Ombudsman again generally only responds in matters relating to UK insurers...
I'm not suggesting Gibralter based insurers are bad, but it is to their regulatory authorities that a consumer would have to deal in the event of dispute...and of course their rules and regulations, which may not be construed as good as those in the UK.
Even if the policy is subject to interpretation under UK laws (be it England/Wales or Scotland, NI) that's not to say the matter would be heard in a court in the UK...there are many other jurisdictions around the world that are able to hear cases subject to interpretation under UK laws...and after all if the assets are in Gibralter, and that is where the business is written, then that is where one would have to go in pursuing a dispute...
Beyond Gibralter, well I haven't got that far yet...and will probably avoid...
So far I'm keen (but not yet commited) on ALA with their UK insurer, okay not that well known an insurer...but at least a UK company.
I appreciate this doesn't quite fit for the OP due to ALA's limit of GBP25K...but I wonder if they were called, perhaps they may offer a higher limit...maybe up to GBP35K or even GBP40K...might be worth a try?
ALA's faqs are quite open http://www.ala.co.uk/faq.html and in particular:
1. Use a UK insurer
2. Offer up to 4 years policy period
3. Okay they exclude dealer fitted extras but otherwise include all manufacturer/factory fitted options
4. Pay out the difference of what the underlying motor insurer settles up to the limit of the GAP insurance...therefore no Glass' Guide used
5. Doesn't exclude theft total loss where the vehicle's keys are used - providing the keys were stolen (theft is legally defined of course) from your house following a break in (so no pick pocketing when your jacket is hanging over a chair down the pub or at a football/cricket match etc) - but this is providing your underlying motor insurance also covers this same event - worth checking this out with your motor insurer?
Okay not completely covered - but not totally excluded...
And no unattended for 7 days or more type exclusion...so covered if vehicle parked up at the airport when away on holiday...and is stolen/damaged as total loss
6. Glass' Guide not used as a lower limit to invoice price - so invoice price is agreed
7. No special conditions on duration and countries visited overseas - it simply follows whatever the underlying motor insurer provides...
8. No riot/civil commotion in the UK exclusion and even covers use by provisional license holders but still has the exclusions for driving illegally/commiting a crime though...
Price wise they appear to be extremely competitive?
I have no connection with ALA at all and this is merely my opinion to date based on my research and advise/suggestions received to date...my search is not yet over!!!
I'm not suggesting Gibralter based insurers are bad, but it is to their regulatory authorities that a consumer would have to deal in the event of dispute...and of course their rules and regulations, which may not be construed as good as those in the UK.
Even if the policy is subject to interpretation under UK laws (be it England/Wales or Scotland, NI) that's not to say the matter would be heard in a court in the UK...there are many other jurisdictions around the world that are able to hear cases subject to interpretation under UK laws...and after all if the assets are in Gibralter, and that is where the business is written, then that is where one would have to go in pursuing a dispute...
Beyond Gibralter, well I haven't got that far yet...and will probably avoid...
So far I'm keen (but not yet commited) on ALA with their UK insurer, okay not that well known an insurer...but at least a UK company.
I appreciate this doesn't quite fit for the OP due to ALA's limit of GBP25K...but I wonder if they were called, perhaps they may offer a higher limit...maybe up to GBP35K or even GBP40K...might be worth a try?
ALA's faqs are quite open http://www.ala.co.uk/faq.html and in particular:
1. Use a UK insurer
2. Offer up to 4 years policy period
3. Okay they exclude dealer fitted extras but otherwise include all manufacturer/factory fitted options
4. Pay out the difference of what the underlying motor insurer settles up to the limit of the GAP insurance...therefore no Glass' Guide used
5. Doesn't exclude theft total loss where the vehicle's keys are used - providing the keys were stolen (theft is legally defined of course) from your house following a break in (so no pick pocketing when your jacket is hanging over a chair down the pub or at a football/cricket match etc) - but this is providing your underlying motor insurance also covers this same event - worth checking this out with your motor insurer?
Okay not completely covered - but not totally excluded...
And no unattended for 7 days or more type exclusion...so covered if vehicle parked up at the airport when away on holiday...and is stolen/damaged as total loss
6. Glass' Guide not used as a lower limit to invoice price - so invoice price is agreed
7. No special conditions on duration and countries visited overseas - it simply follows whatever the underlying motor insurer provides...
8. No riot/civil commotion in the UK exclusion and even covers use by provisional license holders but still has the exclusions for driving illegally/commiting a crime though...
Price wise they appear to be extremely competitive?
I have no connection with ALA at all and this is merely my opinion to date based on my research and advise/suggestions received to date...my search is not yet over!!!
2007 (57) MY07 Titanium Silver E70 X5 SE 5S 4.8i V8 Auto
Re: GAP insurance, experiences with
An excellent series of posts doc426... I'd just about set my heart on buying from GapInsurance .co.uk so you had me scrabbling for their policy docs so I could re-read them with your points in mind.
I observed the following:
[quote=""doc4246""]
the insurers used by ... Frank Pickles (http://www.gapinsurance.co.uk) are UK companies - although not really well known names...
[/quote]
The insurer of their policies is "Ageas Insurance Ltd", they were previously known as "Fortis Insurance Ltd". Whilst "Ageas" as a name clearly doesn't yet enjoy the brand recognition of "Fortis", they are one of the largest insurers in the UK. (See here: http://www.ageas.com/en/Pages/brief.aspx and here: http://www.ageas-uk.co.uk/)
[quote=""doc4246""]
4. For the most part policies only pay out providing you have a successful claim on your underlying motor insurance
[/quote]
Surely by it's very nature, any Gap Insurance policy will only pay out if there's a successful claim on your underlying motor insurance?
[quote=""doc4246""]
5. This becomes interesting where say your vehicle is a total loss following theft using your vehicle's keys which have also been taken... the GAP insurance may exlcude this cover anyway - there's an intriguing exclusion regarding this even in the http://www.gapinsurance.co.uk policy wording
[/quote]
I'm not sure I agree that their condition in relation to this is "intriguing". The policy has the following exclusion:
[quote=""doc4246""]
conversely http://www.car2cover.co.uk does include this cover however their insurer is a Gibralter registered company...
[/quote]
I specifically questioned cover for theft through the use of the vehicle keys (i.e. the keys being stolen), because I'd spotted that Car2Cover and other online providers make a bit of a song and dance about their policies covering it.
I'm assured that it always rests with your Motor Insurer, e.g. if they deem the claim to be valid, there isn't a Gap Insurance provider who would take an opposing view and subsequently reject the claim.
I was told that the general rule is: If your Motor Insurance pays out, the Gap Insurance pays out.
That seems like common sense to me.
[quote=""doc4246""]
I've even come across an exclusion of cover where the vehicle is left continuously unattended for more than 7 days...not good if you've left the vehicle at the airport car park during a holiday...
[/quote]
Really?? That's a right dodgy exclusion. I haven't come across that one in my own research in to Gap Insurance. Where did you you see this? I'd question whether that was ever enforceable though, because I'd expect it to be covered under my motor insurance still... (note-to-self: check car insurance terms).
[quote=""doc4246""]
6. No matter what the final invoice price you pay - some GAP insurance still limit the maximum value of the vehicle to that shown in Glass' Guide...so hopefully you've not been over sold, but with a new vehicle that is far less likely than a second hand purchase where the dealer has a profit to accomodate.
[/quote]
I agree unfortunately that's always possible with a used vehicle, but highly unlikely with a new vehicle.
GapInsurance.co.uk's policies include such a restriction. I.e. They reserve the right to re-value the vehicle at the time you bought it, via reference to Glass' Guide... If you over-paid for the vehicle, it's possible that you could get stung somewhat here. However, I'm comfortable that this won't affect me.
[quote=""doc4246""]
Another exlcusion is if the total loss occurs outside the covered countries...so if the car is found in Russia (thanks to the fitted tracking device or telematics system) and is considered a total loss (burnt out or materially damaged beyond economical repair...parts removed etc) then you'll get no payout...now this is a debateable matter as to where the event actually occurred...but for a big claim, any opportunity to wriggle out is highly likely...
[/quote]
I think this unlikely to ever be an issue. If the vehicle was unlawfully taken from you, whilst you (and/or the vehicle) were within the territorial limits of the policy, then that is the location of the event. It matters not as to where the vehicle was subsequently located.
It'd be like the Motor Insurer claiming the date of loss was a month later than the actual date of loss, in an attempt to apply and payout to a lower market value. It wouldn't happen.
[quote=""doc4246""]
8. Civil commotion and riot in the UK exclusions - could be an issue...as are exlcuions relating to provisionally licenced drivers...not to mention excluions arising from driver intoxication etc...
[/quote]
Standard stuff, I've seen this in many vehicle-related insurance policies in my time.
[quote=""doc4246""]
A tough exclusion in this category is where the driver at the time of the incident giving rise to the claim was driving illegally (again http://www.gapinsurance.co.uk) as this could imply that if you were even speeding or driving without due care and attention and successfully prosecuted for the offence, then you'd not be covered.
[/quote]
I'm told that "Driving Illegally" would be driving in any way that contravened the Road Traffic Act.
I'm no expert in legislation, nor what "offences" would count, but I'd put money on me having difficulty claiming on my Motor Insurance, if that claim arose as a result through me having broken the law. In which case, I refer back to what I've been told... No Motor Insurance payout = No Gap Insurance payout.
Incidentally, the very same exclusion is in Honda's own Gap Insurance policy - and probably many others too.
For anyone that's interested, I also took the time to compare doc4246's specific observations of ALA.co.uk with GapInsurance.co.uk:
[quote=""doc4246""]
http://www.ala.co.uk:
1. Use a UK insurer
[/quote]
So do GapInsurance.co.uk
[quote=""doc4246""]
2. Offer up to 4 years policy period
[/quote]
So do GapInsurance.co.uk, but if you have new-for-old cover as part of your motor insurance policy, you can defer the start date of the Gap Insurance policy by up to 12 months, this would mean having their Gap Insurance policy "ignore" the first year but cover years 2, 3, 4, and 5.
[quote=""doc4246""]
3. Okay they exclude dealer fitted extras but otherwise include all manufacturer/factory fitted options
[/quote]
GapInsurance.co.uk: Covers any/all genuine manufacturer, accessories/options whether they be Dealer or Factory fitted.
[quote=""doc4246""]
4. Pay out the difference of what the underlying motor insurer settles up to the limit of the GAP insurance...therefore no Glass' Guide used
[/quote]
GapInsurance.co.uk policies allow for reference to Glass' Guide therefore the vehicle value at the time you bought it could be revalued and your claim could be adjusted, though in reality this is only really going to *possibly* be an issue with a used car. New cars are likely not to be affected by such a clause.
[quote=""doc4246""]
5. Doesn't exclude theft total loss where the vehicle's keys are used - providing the keys were stolen (theft is legally defined of course) from your house following a break in (so no pick pocketing when your jacket is hanging over a chair down the pub or at a football/cricket match etc) - but this is providing your underlying motor insurance also covers this same event - worth checking this out with your motor insurer?
[/quote]
GapInsurance.co.uk: So long as you don't leave the vehicle unattended with the keys inside, cover us unaffected - so long as the Motor Insurance policy pays out!
[quote=""doc4246""]
And no unattended for 7 days or more type exclusion...so covered if vehicle parked up at the airport when away on holiday...and is stolen/damaged as total loss
[/quote]
GapInsurance.co.uk don't have such an exclusion either. I'm still amazed at the prospect of this exclusion being present in any policy. Really, where have you seen this?
[quote=""doc4246""]
6. Glass' Guide not used as a lower limit to invoice price - so invoice price is agreed
[/quote]
Sames as No.4
[quote=""doc4246""]
7. No special conditions on duration and countries visited overseas - it simply follows whatever the underlying motor insurer provides...
[/quote]
GapInsurance.co.uk will allow for the vehicle to be used in the EC plus some other countries for up to 90 days in any 12 month period. (I don't intend to travel so this won't affect me)
[quote=""doc4246""]
8. No riot/civil commotion in the UK exclusion
[/quote]
GapInsurance.co.uk have such an exclusion.
[quote=""doc4246""]
and even covers use by provisional license holders but still has the exclusions for driving illegally/commiting a crime though...
[/quote]
GapInsurance.co.uk will cover any driver of the vehicle, provided that individual is covered to drive the vehicle under a Comprehensive Motor Insurance policy.
doc4246: after reading your explicitly detailed posts (very much appreciated I might add!) I initially thought I'd be swayed to go with ALA, but after reviewing and comparing the policies from these two companies in far more detail I'm still comfortable that Frank Pickles (GapInsurance.co.uk) is the better choice for me.
Thank you for your time in spurring me on to do this.
I observed the following:
[quote=""doc4246""]
the insurers used by ... Frank Pickles (http://www.gapinsurance.co.uk) are UK companies - although not really well known names...
[/quote]
The insurer of their policies is "Ageas Insurance Ltd", they were previously known as "Fortis Insurance Ltd". Whilst "Ageas" as a name clearly doesn't yet enjoy the brand recognition of "Fortis", they are one of the largest insurers in the UK. (See here: http://www.ageas.com/en/Pages/brief.aspx and here: http://www.ageas-uk.co.uk/)
[quote=""doc4246""]
4. For the most part policies only pay out providing you have a successful claim on your underlying motor insurance
[/quote]
Surely by it's very nature, any Gap Insurance policy will only pay out if there's a successful claim on your underlying motor insurance?
[quote=""doc4246""]
5. This becomes interesting where say your vehicle is a total loss following theft using your vehicle's keys which have also been taken... the GAP insurance may exlcude this cover anyway - there's an intriguing exclusion regarding this even in the http://www.gapinsurance.co.uk policy wording
[/quote]
I'm not sure I agree that their condition in relation to this is "intriguing". The policy has the following exclusion:
- Any Vehicle, which is left unattended unless all security devices and immobiliser are activated and are in full working order, (in addition all doors must be locked and keys removed from the Vehicle).
[quote=""doc4246""]
conversely http://www.car2cover.co.uk does include this cover however their insurer is a Gibralter registered company...
[/quote]
I specifically questioned cover for theft through the use of the vehicle keys (i.e. the keys being stolen), because I'd spotted that Car2Cover and other online providers make a bit of a song and dance about their policies covering it.
I'm assured that it always rests with your Motor Insurer, e.g. if they deem the claim to be valid, there isn't a Gap Insurance provider who would take an opposing view and subsequently reject the claim.
I was told that the general rule is: If your Motor Insurance pays out, the Gap Insurance pays out.
That seems like common sense to me.
[quote=""doc4246""]
I've even come across an exclusion of cover where the vehicle is left continuously unattended for more than 7 days...not good if you've left the vehicle at the airport car park during a holiday...
[/quote]
Really?? That's a right dodgy exclusion. I haven't come across that one in my own research in to Gap Insurance. Where did you you see this? I'd question whether that was ever enforceable though, because I'd expect it to be covered under my motor insurance still... (note-to-self: check car insurance terms).
[quote=""doc4246""]
6. No matter what the final invoice price you pay - some GAP insurance still limit the maximum value of the vehicle to that shown in Glass' Guide...so hopefully you've not been over sold, but with a new vehicle that is far less likely than a second hand purchase where the dealer has a profit to accomodate.
[/quote]
I agree unfortunately that's always possible with a used vehicle, but highly unlikely with a new vehicle.
GapInsurance.co.uk's policies include such a restriction. I.e. They reserve the right to re-value the vehicle at the time you bought it, via reference to Glass' Guide... If you over-paid for the vehicle, it's possible that you could get stung somewhat here. However, I'm comfortable that this won't affect me.
[quote=""doc4246""]
Another exlcusion is if the total loss occurs outside the covered countries...so if the car is found in Russia (thanks to the fitted tracking device or telematics system) and is considered a total loss (burnt out or materially damaged beyond economical repair...parts removed etc) then you'll get no payout...now this is a debateable matter as to where the event actually occurred...but for a big claim, any opportunity to wriggle out is highly likely...
[/quote]
I think this unlikely to ever be an issue. If the vehicle was unlawfully taken from you, whilst you (and/or the vehicle) were within the territorial limits of the policy, then that is the location of the event. It matters not as to where the vehicle was subsequently located.
It'd be like the Motor Insurer claiming the date of loss was a month later than the actual date of loss, in an attempt to apply and payout to a lower market value. It wouldn't happen.
[quote=""doc4246""]
8. Civil commotion and riot in the UK exclusions - could be an issue...as are exlcuions relating to provisionally licenced drivers...not to mention excluions arising from driver intoxication etc...
[/quote]
Standard stuff, I've seen this in many vehicle-related insurance policies in my time.
[quote=""doc4246""]
A tough exclusion in this category is where the driver at the time of the incident giving rise to the claim was driving illegally (again http://www.gapinsurance.co.uk) as this could imply that if you were even speeding or driving without due care and attention and successfully prosecuted for the offence, then you'd not be covered.
[/quote]
I'm told that "Driving Illegally" would be driving in any way that contravened the Road Traffic Act.
I'm no expert in legislation, nor what "offences" would count, but I'd put money on me having difficulty claiming on my Motor Insurance, if that claim arose as a result through me having broken the law. In which case, I refer back to what I've been told... No Motor Insurance payout = No Gap Insurance payout.
Incidentally, the very same exclusion is in Honda's own Gap Insurance policy - and probably many others too.
For anyone that's interested, I also took the time to compare doc4246's specific observations of ALA.co.uk with GapInsurance.co.uk:
[quote=""doc4246""]
http://www.ala.co.uk:
1. Use a UK insurer
[/quote]
So do GapInsurance.co.uk
[quote=""doc4246""]
2. Offer up to 4 years policy period
[/quote]
So do GapInsurance.co.uk, but if you have new-for-old cover as part of your motor insurance policy, you can defer the start date of the Gap Insurance policy by up to 12 months, this would mean having their Gap Insurance policy "ignore" the first year but cover years 2, 3, 4, and 5.
[quote=""doc4246""]
3. Okay they exclude dealer fitted extras but otherwise include all manufacturer/factory fitted options
[/quote]
GapInsurance.co.uk: Covers any/all genuine manufacturer, accessories/options whether they be Dealer or Factory fitted.
[quote=""doc4246""]
4. Pay out the difference of what the underlying motor insurer settles up to the limit of the GAP insurance...therefore no Glass' Guide used
[/quote]
GapInsurance.co.uk policies allow for reference to Glass' Guide therefore the vehicle value at the time you bought it could be revalued and your claim could be adjusted, though in reality this is only really going to *possibly* be an issue with a used car. New cars are likely not to be affected by such a clause.
[quote=""doc4246""]
5. Doesn't exclude theft total loss where the vehicle's keys are used - providing the keys were stolen (theft is legally defined of course) from your house following a break in (so no pick pocketing when your jacket is hanging over a chair down the pub or at a football/cricket match etc) - but this is providing your underlying motor insurance also covers this same event - worth checking this out with your motor insurer?
[/quote]
GapInsurance.co.uk: So long as you don't leave the vehicle unattended with the keys inside, cover us unaffected - so long as the Motor Insurance policy pays out!
[quote=""doc4246""]
And no unattended for 7 days or more type exclusion...so covered if vehicle parked up at the airport when away on holiday...and is stolen/damaged as total loss
[/quote]
GapInsurance.co.uk don't have such an exclusion either. I'm still amazed at the prospect of this exclusion being present in any policy. Really, where have you seen this?
[quote=""doc4246""]
6. Glass' Guide not used as a lower limit to invoice price - so invoice price is agreed
[/quote]
Sames as No.4
[quote=""doc4246""]
7. No special conditions on duration and countries visited overseas - it simply follows whatever the underlying motor insurer provides...
[/quote]
GapInsurance.co.uk will allow for the vehicle to be used in the EC plus some other countries for up to 90 days in any 12 month period. (I don't intend to travel so this won't affect me)
[quote=""doc4246""]
8. No riot/civil commotion in the UK exclusion
[/quote]
GapInsurance.co.uk have such an exclusion.
[quote=""doc4246""]
and even covers use by provisional license holders but still has the exclusions for driving illegally/commiting a crime though...
[/quote]
GapInsurance.co.uk will cover any driver of the vehicle, provided that individual is covered to drive the vehicle under a Comprehensive Motor Insurance policy.
doc4246: after reading your explicitly detailed posts (very much appreciated I might add!) I initially thought I'd be swayed to go with ALA, but after reviewing and comparing the policies from these two companies in far more detail I'm still comfortable that Frank Pickles (GapInsurance.co.uk) is the better choice for me.
Thank you for your time in spurring me on to do this.
Re: GAP insurance, experiences with
VaioMan, I still remain undecided and certainly haven't ruled out www.gapinsurance.co.uk but it's horses for courses and what fits best for each individual and their circumstances/needs etc...
My intrigue over the exclusion:
Any Vehicle, which is left unattended unless all security devices and immobiliser are activated and are in full working order, (in addition all doors must be locked and keys removed from the Vehicle).
Is:
1. for such a detailed clause why does it not mention any opening windows/sunroof etc also be closed?
Conversely...
2. For me the exclusion is too much and somewhat unreasonable...such as how would I know on every occasion that ALL security devices and immobiliser are activated and are in full working order? Most trackers don't provide this information by their very nature and covert location and to check with the provider each time is either not possible or at the very least a difficult chore. And I don't normally make any attempt to test ALL my security devices and immobiliser each time I wish to leave my vehicle unattended to be sure they are ALL activated and in full working order...what is meant by FULL working order is there a half full working order, surely they either work or they don't? Thanks to the advent of remote controls I don't even usually go around to check all the doors are locked these days - although there is a false check for this on arming the remote control...
And after a total loss claim it would potentially be quite difficult to prove either way...
3. For those that don't usually lock their vehicle at petrol stations leaving it unattended while they go to pay etc...need to look out...
4. For those with pets and deactivate the interior motion sensor or deactivate it anyway because it's too sensitive and gives false alarms...need to look out...
I could come up with some other scenarios...
Of course the underlying motor insurance may also have a similar clause...some don't, mine doesn't have such a detailed clause so I wouldn't want a more onerous exclusion in the GAP insurance.
There are GAP policies that pay out if the underlying motor insurance does not - such as those with Difference in Conditions/Difference in Limits (DiC/DiL) clauses.
Can't remember off hand where I came across the long term unattended exclusion clause...it was a while back and with an overseas insurer - I immediately ceased any further inquiry with that contract...but that clause sticks in my mind.
I'm not sure I agree with the "general rule" that if the motor insurance pays out then so does the GAP insurance - as already mentioned some GAP policies have more onerous clauses and exclusions than the underlying motor insurance - for the precise reason that they are not excess of loss or umbrella policies covering in every way the same terms and conditions of the underlying motor insurance.
An example being the exclusion of cover for riot and civil commotion in the UK which I found in some GAP policies that not all motor insurers apply (mine doesn't) although there are a number that do.
Be aware of the wording...my point about where the vehicle damage takes place and indeed when is due to Event versus Occurence policy wordings, let alone Claims Made policy wordings.
The Event may well be from where/when the vehicle is originally taken however the Occurrence that gives rise to the total loss may be at a later time or location...
A thief takes my car in the UK...tracker is activated...but due to the cloaking used it doesn't pop up until the thief unloads the vehicle from a trailer in an overseas country outside the policy limits...Russia...at this time the vehicle is still NOT a total loss as it could be recovered intact or with minimal damage...however the opportunity is missed and the thief starts chopping it up and burns what's left...that's the occurrence giving rise to the total loss...and it occurred outside the covered countries...
A reason to really read the policy wording and all the fine interpretations...
Another final issue for me with the www.gapinsurance.co.uk policy is the overseas use limit of just 90 days in any 1 year as I am away with my vehicle more than this - albeit lots of short trips over a year...
But again its about personal fit - and as mentioned on the whole the www.gapinsurance.co.uk policy is pretty good and up there with the best I'd say...especially with their policy limits and some nice cover add ons like including dealer fitted options...I only had them supply road tax and GBP300 of paintwork protection...
My points are very much of the extreme and undoubtedly rare situations - but there again isn't that when most people have the greatest issue with their insurance...the straightforward claims are generally always settled without fuss...
My intrigue over the exclusion:
Any Vehicle, which is left unattended unless all security devices and immobiliser are activated and are in full working order, (in addition all doors must be locked and keys removed from the Vehicle).
Is:
1. for such a detailed clause why does it not mention any opening windows/sunroof etc also be closed?
Conversely...
2. For me the exclusion is too much and somewhat unreasonable...such as how would I know on every occasion that ALL security devices and immobiliser are activated and are in full working order? Most trackers don't provide this information by their very nature and covert location and to check with the provider each time is either not possible or at the very least a difficult chore. And I don't normally make any attempt to test ALL my security devices and immobiliser each time I wish to leave my vehicle unattended to be sure they are ALL activated and in full working order...what is meant by FULL working order is there a half full working order, surely they either work or they don't? Thanks to the advent of remote controls I don't even usually go around to check all the doors are locked these days - although there is a false check for this on arming the remote control...
And after a total loss claim it would potentially be quite difficult to prove either way...
3. For those that don't usually lock their vehicle at petrol stations leaving it unattended while they go to pay etc...need to look out...
4. For those with pets and deactivate the interior motion sensor or deactivate it anyway because it's too sensitive and gives false alarms...need to look out...
I could come up with some other scenarios...
Of course the underlying motor insurance may also have a similar clause...some don't, mine doesn't have such a detailed clause so I wouldn't want a more onerous exclusion in the GAP insurance.
There are GAP policies that pay out if the underlying motor insurance does not - such as those with Difference in Conditions/Difference in Limits (DiC/DiL) clauses.
Can't remember off hand where I came across the long term unattended exclusion clause...it was a while back and with an overseas insurer - I immediately ceased any further inquiry with that contract...but that clause sticks in my mind.
I'm not sure I agree with the "general rule" that if the motor insurance pays out then so does the GAP insurance - as already mentioned some GAP policies have more onerous clauses and exclusions than the underlying motor insurance - for the precise reason that they are not excess of loss or umbrella policies covering in every way the same terms and conditions of the underlying motor insurance.
An example being the exclusion of cover for riot and civil commotion in the UK which I found in some GAP policies that not all motor insurers apply (mine doesn't) although there are a number that do.
Be aware of the wording...my point about where the vehicle damage takes place and indeed when is due to Event versus Occurence policy wordings, let alone Claims Made policy wordings.
The Event may well be from where/when the vehicle is originally taken however the Occurrence that gives rise to the total loss may be at a later time or location...
A thief takes my car in the UK...tracker is activated...but due to the cloaking used it doesn't pop up until the thief unloads the vehicle from a trailer in an overseas country outside the policy limits...Russia...at this time the vehicle is still NOT a total loss as it could be recovered intact or with minimal damage...however the opportunity is missed and the thief starts chopping it up and burns what's left...that's the occurrence giving rise to the total loss...and it occurred outside the covered countries...
A reason to really read the policy wording and all the fine interpretations...
Another final issue for me with the www.gapinsurance.co.uk policy is the overseas use limit of just 90 days in any 1 year as I am away with my vehicle more than this - albeit lots of short trips over a year...
But again its about personal fit - and as mentioned on the whole the www.gapinsurance.co.uk policy is pretty good and up there with the best I'd say...especially with their policy limits and some nice cover add ons like including dealer fitted options...I only had them supply road tax and GBP300 of paintwork protection...
My points are very much of the extreme and undoubtedly rare situations - but there again isn't that when most people have the greatest issue with their insurance...the straightforward claims are generally always settled without fuss...
2007 (57) MY07 Titanium Silver E70 X5 SE 5S 4.8i V8 Auto
Re: GAP insurance, experiences with
Sorry, I've been away for a few days.
[quote=""doc4246""]
My intrigue over the exclusion:
Any Vehicle, which is left unattended unless all security devices and immobiliser are activated and are in full working order, (in addition all doors must be locked and keys removed from the Vehicle).
Is:
1. for such a detailed clause why does it not mention any opening windows/sunroof etc also be closed?
[/quote]
Ha, I hadn't thought of it that way, but yeah ok, good point.
[quote=""doc4246""]
...how would I know on every occasion that ALL security devices and immobiliser are activated and are in full working order? Most trackers don't provide this information by their very nature and covert location and to check with the provider each time is either not possible or at the very least a difficult chore. And I don't normally make any attempt to test ALL my security devices and immobiliser each time I wish to leave my vehicle unattended to be sure they are ALL activated and in full working order...what is meant by FULL working order is there a half full working order, surely they either work or they don't? Thanks to the advent of remote controls I don't even usually go around to check all the doors are locked these days - although there is a false check for this on arming the remote control...
And after a total loss claim it would potentially be quite difficult to prove either way...
[/quote]
I see your point. But I don't share your concern.
The onus would be on the Insurer to prove that I didn't lock the vehicle and it'd be a brave insurer who tried reject a claim on such grounds without such proof. Equally, if I believed I had locked the vehicle, but it subsequently became apparent that some kind of mechanical or electrical failure resulted in the vehicle not actually locking, there's no way that an Insurer would reject the claim on the grounds that I should have known that such a failure had occurred and if they did, there's no way the rejection would stand up to scrutiny from the Ombudsman.
[quote=""doc4246""]
3. For those that don't usually lock their vehicle at petrol stations leaving it unattended while they go to pay etc...need to look out...
[/quote]
I never leave my keys in my car at the petrol station and anyone that does is asking for trouble. If I did this and my car was taken, I'd be wincing when calling my Car Insurance provider - expecting that I'm going to have a hard time claiming.
[quote=""doc4246""]
4. For those with pets and deactivate the interior motion sensor or deactivate it anyway because it's too sensitive and gives false alarms...need to look out...
[/quote]
Much like leaving the keys in the car at the petrol station, if I'm electing to disable any part of the security measures on my vehicle, for pets or for any other reason, I'd be doing so accepting an element of risk along the way. If my car was taken and the security measures I disabled assisted in it having been taken then again, I'd be back to wincing on the phone.
That being said, as we're talking about Gap Insurance and a claim only in the event of a Total Loss, the insurer would have to be able to prove that I'd disabled any aspect of the vehicle security.
[quote=""doc4246""]
There are GAP policies that pay out if the underlying motor insurance does not - such as those with Difference in Conditions/Difference in Limits (DiC/DiL) clauses.
[/quote]
Short of an example, I'm highly doubtful of this.
If Gap Insurance is to cover my car being declared a "Total Loss" by my Car Insurance, I'd need to have had a valid claim on that Car Insurance policy, surely? If the Car Insurance policy doesn't pay out, then how can a "gap" between Car Insurance payout and Original Invoice price, or between the Car Insurance and Replacement Vehicle Price, or Car Insurance and Finance Agreement Settlement Figure, exist?
[quote=""doc4246""]
A thief takes my car in the UK...tracker is activated...but due to the cloaking used it doesn't pop up until the thief unloads the vehicle from a trailer in an overseas country outside the policy limits...Russia...at this time the vehicle is still NOT a total loss as it could be recovered intact or with minimal damage...however the opportunity is missed and the thief starts chopping it up and burns what's left...that's the occurrence giving rise to the total loss...and it occurred outside the covered countries...
A reason to really read the policy wording and all the fine interpretations...
[/quote]
Again, I see your point, but I don't share your concern.
If my car is stolen, the date of loss (to me) is the date it was taken and/or the date I became aware that it was taken and on that same date (ideally) I'd be notifying my Car Insurance (along with the police etc) and beginning the claim process.
My Car Insurance policy will have specific conditions in relation to how long they will take to handle that claim, but if, as you suggest, my vehicle was actually shipped to Russia, I have no clue how long it takes to ship a container to Russia, but I'm assuming we're talking weeks, in which case I'd expect my Car (and Gap) Insurance to have settled up with me long before my car landed on Russian soil. If my car was subsequently recovered, then that's a matter entirely for the Insurer and whatever they do to recover funds from their salvage of that vehicle.
[quote=""doc4246""]
Another final issue for me with the http://www.gapinsurance.co.uk policy is the overseas use limit of just 90 days in any 1 year as I am away with my vehicle more than this - albeit lots of short trips over a year...
But again its about personal fit - and as mentioned on the whole the http://www.gapinsurance.co.uk policy is pretty good and up there with the best I'd say...especially with their policy limits and some nice cover add ons like including dealer fitted options...I only had them supply road tax and GBP300 of paintwork protection...
[/quote]
I'm not fortunate enough to be able to afford to take so much time away! Slightly jealous.
[quote=""doc4246""]
My points are very much of the extreme and undoubtedly rare situations - but there again isn't that when most people have the greatest issue with their insurance...the straightforward claims are generally always settled without fuss...
[/quote]
Granted.
[quote=""doc4246""]
My intrigue over the exclusion:
Any Vehicle, which is left unattended unless all security devices and immobiliser are activated and are in full working order, (in addition all doors must be locked and keys removed from the Vehicle).
Is:
1. for such a detailed clause why does it not mention any opening windows/sunroof etc also be closed?
[/quote]
Ha, I hadn't thought of it that way, but yeah ok, good point.
[quote=""doc4246""]
...how would I know on every occasion that ALL security devices and immobiliser are activated and are in full working order? Most trackers don't provide this information by their very nature and covert location and to check with the provider each time is either not possible or at the very least a difficult chore. And I don't normally make any attempt to test ALL my security devices and immobiliser each time I wish to leave my vehicle unattended to be sure they are ALL activated and in full working order...what is meant by FULL working order is there a half full working order, surely they either work or they don't? Thanks to the advent of remote controls I don't even usually go around to check all the doors are locked these days - although there is a false check for this on arming the remote control...
And after a total loss claim it would potentially be quite difficult to prove either way...
[/quote]
I see your point. But I don't share your concern.
The onus would be on the Insurer to prove that I didn't lock the vehicle and it'd be a brave insurer who tried reject a claim on such grounds without such proof. Equally, if I believed I had locked the vehicle, but it subsequently became apparent that some kind of mechanical or electrical failure resulted in the vehicle not actually locking, there's no way that an Insurer would reject the claim on the grounds that I should have known that such a failure had occurred and if they did, there's no way the rejection would stand up to scrutiny from the Ombudsman.
[quote=""doc4246""]
3. For those that don't usually lock their vehicle at petrol stations leaving it unattended while they go to pay etc...need to look out...
[/quote]
I never leave my keys in my car at the petrol station and anyone that does is asking for trouble. If I did this and my car was taken, I'd be wincing when calling my Car Insurance provider - expecting that I'm going to have a hard time claiming.
[quote=""doc4246""]
4. For those with pets and deactivate the interior motion sensor or deactivate it anyway because it's too sensitive and gives false alarms...need to look out...
[/quote]
Much like leaving the keys in the car at the petrol station, if I'm electing to disable any part of the security measures on my vehicle, for pets or for any other reason, I'd be doing so accepting an element of risk along the way. If my car was taken and the security measures I disabled assisted in it having been taken then again, I'd be back to wincing on the phone.
That being said, as we're talking about Gap Insurance and a claim only in the event of a Total Loss, the insurer would have to be able to prove that I'd disabled any aspect of the vehicle security.
[quote=""doc4246""]
There are GAP policies that pay out if the underlying motor insurance does not - such as those with Difference in Conditions/Difference in Limits (DiC/DiL) clauses.
[/quote]
Short of an example, I'm highly doubtful of this.
If Gap Insurance is to cover my car being declared a "Total Loss" by my Car Insurance, I'd need to have had a valid claim on that Car Insurance policy, surely? If the Car Insurance policy doesn't pay out, then how can a "gap" between Car Insurance payout and Original Invoice price, or between the Car Insurance and Replacement Vehicle Price, or Car Insurance and Finance Agreement Settlement Figure, exist?
[quote=""doc4246""]
A thief takes my car in the UK...tracker is activated...but due to the cloaking used it doesn't pop up until the thief unloads the vehicle from a trailer in an overseas country outside the policy limits...Russia...at this time the vehicle is still NOT a total loss as it could be recovered intact or with minimal damage...however the opportunity is missed and the thief starts chopping it up and burns what's left...that's the occurrence giving rise to the total loss...and it occurred outside the covered countries...
A reason to really read the policy wording and all the fine interpretations...
[/quote]
Again, I see your point, but I don't share your concern.
If my car is stolen, the date of loss (to me) is the date it was taken and/or the date I became aware that it was taken and on that same date (ideally) I'd be notifying my Car Insurance (along with the police etc) and beginning the claim process.
My Car Insurance policy will have specific conditions in relation to how long they will take to handle that claim, but if, as you suggest, my vehicle was actually shipped to Russia, I have no clue how long it takes to ship a container to Russia, but I'm assuming we're talking weeks, in which case I'd expect my Car (and Gap) Insurance to have settled up with me long before my car landed on Russian soil. If my car was subsequently recovered, then that's a matter entirely for the Insurer and whatever they do to recover funds from their salvage of that vehicle.
[quote=""doc4246""]
Another final issue for me with the http://www.gapinsurance.co.uk policy is the overseas use limit of just 90 days in any 1 year as I am away with my vehicle more than this - albeit lots of short trips over a year...
But again its about personal fit - and as mentioned on the whole the http://www.gapinsurance.co.uk policy is pretty good and up there with the best I'd say...especially with their policy limits and some nice cover add ons like including dealer fitted options...I only had them supply road tax and GBP300 of paintwork protection...
[/quote]
I'm not fortunate enough to be able to afford to take so much time away! Slightly jealous.
[quote=""doc4246""]
My points are very much of the extreme and undoubtedly rare situations - but there again isn't that when most people have the greatest issue with their insurance...the straightforward claims are generally always settled without fuss...
[/quote]
Granted.