Forum-Gallery-Shop-Sponsors

« Advertise on Freel2.com

Home > Finance & Insurance > Gap query
Post Reply  Down to end
Page 1 of 1
Print this entire topic · 
boiledgnat



Member Since: 15 Nov 2006
Location: Bucks
Posts: 283

United Kingdom 2007 Freelander 2 TD4 HSE Manual Stornoway Grey
Gap query

Finally placed my order today - TD4 SE - dealer offered GAP insurance for 3 years for a value of 25K. I've been doing some checking on the web and got thinking that surely on a 30K car which is likely to have at least 50% retained value after 3 years, the maximum amount of GAP I should need would be 15K ? Or am I being a numpty ?

I've found 3 companies:

Shortfallcover.co.uk
click4gap.co.uk
surfandprotect.com

any experience with any of these ??

Thanks

BG

Post #1272 6th Jan 2007 10:06 pm
View user's profile Send private message View poster's gallery Reply with quote
Kevin



Member Since: 23 Dec 2006
Location: Bournemouth
Posts: 1

United Kingdom 

Hi BG

Its a good question. I think that you will pay over the odds going via the dealer. I still need to sort out GAP for my new (second) Disco 3. My insurance with NFU gives me two years new for old, so I still havent made my mind up if I realy need this cover or not.

Give kam100 a shout via a PM, or ask on the sister site www.rrsport.co.uk.

He may reply directly to this thread, but whicever way I am sure that he will be able to help you.

Regards Kevin

07 Disco 3 XS Auto Java Black

www.bluelinecruises.co.uk

Post #1276 7th Jan 2007 3:43 am
View user's profile Send private message View poster's gallery Reply with quote
kam100



Member Since: 27 Nov 2006
Location: Midlands
Posts: 43

HI Guys, thanks for the referral Kevin.

We always advice our clients to apply gap insurance to the finance that we arrange, for cover in case the worst happens. We tend to refer to: www.shortfallcover.co.uk as they offer the greatest amount of cover for the least amount. I.e. the cover goes to a maximum payout of £25k

http://www.shortfallcover.co.uk/scripts/pr...tegory=263

Hence the cover is more then adequate, plus in my own experience, i took out cover on my RRS through my dealer for 4 year cover for i think it was £450 at the time, as i was excited about pickup and the way LR manipulated me to think about it, i.e. sign here Kam, its just shortfall cover, adds like £3 to your monthly but you have full shortfall cover.

When i looked into it afterwards and found cheaper alternatives available, i felt very ripped off, also i kept my RRS for 8 months, so i didn't need the cover for the 4 years, as its non refundable, non transferable to other vehicles/owners, so once its paid its gone.. PLus the claim limit was a measly £15k which would not have covered return to invoice shortfall over say 4 years the car got wrecked, worth £25k, then i would need around £22k to get into a new car, i would stil fall short, even though im paying through my nose for it.

Shortfallcover also grant people we refer 5% additional discount, so if you would like the discount code, then PM me, will be glad to help..
Also a consideration to bear in mind. Most insurance companies cover your car new for old for the first year anyway, on brand new cars, so may be worth checking your policy for that. If you keep it more then a year though a shortfall policy is advised..

Post #1278 7th Jan 2007 1:50 pm
View user's profile Send private message View poster's gallery Reply with quote
boiledgnat



Member Since: 15 Nov 2006
Location: Bucks
Posts: 283

United Kingdom 2007 Freelander 2 TD4 HSE Manual Stornoway Grey

Thanks for the advice. It's a cash sale, so no finance involved. Am I right in thinking that 25K gap cover for a 30K car is over the top. Isn't the gap cover just to cover the difference between the insurance company payout and the invoice price (assuming I go for an RTI policy). Will the book value (hence the insurance pay out) ever be below 15K for the first 3 years of the car - especially one which is thought to retain 56% of it's value after 3 years.

I'm comfortable with taking out a policy, just wanted to get my head around how much cover would be needed - I guess if it's too much, it's not a problem !

BG

Post #1280 7th Jan 2007 2:32 pm
View user's profile Send private message View poster's gallery Reply with quote
pelyma



Member Since: 19 Feb 2006
Location: Patching
Posts: 366

England 2007 Freelander 2 TD4 HSE Auto Zermatt Silver

The NFU deal is a good one as there cover is very comprehensive, especcially if going off road. D4 HSE Lux for me
FL2 HSE Zermatt & Alpacca for the wife now gone
Skoda Yeti L&K for the wife.

Post #1282 7th Jan 2007 3:30 pm
View user's profile Send private message View poster's gallery Reply with quote
Tim in Scotland



Member Since: 12 Mar 2006
Location: All at sea
Posts: 875

United Kingdom 

So is Land Rover's own insurance for the vehicle and not the GAP, as it also allows for unlimited audio/hifi, unlimited continental driving, the contents of trailers and roofracks (and the trailer or roofrack), cover allows offroad use without penalty (hey it's Land Rover Insurance not Directchurchillesureunion who won't even quote for offroad use) and cover includes off-road recovery of the vehicle to the nearest LR service agent if necessary,repairs by Land Rover using genuine LR parts and use of a Land Rover while repairs are being made. Yes they cost a small amount more than
Directchurchille-sureNorwichunion but just you try to get offroad cover from them (and to them offroad is not what we all think off as offroad - even use of an unclassified road is "offroad" to those guys so you won't be covered driving on many backroads and country lanes. How can carbon have a footprint, it has no feet?
Now driving - RRE Coupe Dynamic Lux Auto with Plus pack, Fuji White, Ebony, SD4 with tow pack
Gone - 2010MY FFRR TDv8 Stornoway and Ivory, Privacy - the pace of a TDv8 RRS, the incomparable grace of a Range Rover
Gone but will be missed- RRS Tdv8 HSE Stornoway Grey with Ebony Leather
Gone (only a little missed) RRS Tdv6 2.7SE Giverny Green/Aspen
Defender 90 County HT in Epsom Green

Post #1283 7th Jan 2007 3:47 pm
View user's profile Send private message View poster's gallery Post Reply
Post Reply  Back to top
Page 1 of 1
All times are GMT

Jump to  
Previous Topic | Next Topic >
Posting Rules
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



Site Copyright © 2006-2024 Futuranet Ltd & Martin Lewis
Freel2.com RSS Feed - All Forums


Switch to Mobile site