What's gap insurace in relation to a car mate??
If you pay £25k for a car and it get written off say in 4 years, your insurance will only pay out on the market value which will be much lower than what you paid. Gap insurance will cover any shortfall to the value of original purchase cost.
there are options for both cash and finance purchases. For £256 dad knows that his original investment in the car is still there in the event it gets totalled in the next five years, good peace of mind for not much money
Whatever the insurance company pays out the GAP cover will pay the rest up to the original list price of the car.
How does insurance company determine actual value of a car in relation to purchase price?
Something like Glass's Guide?
....My response was along the lines of 'well if there's a lower price available don't you think it would have been appropriate to offer it in the first place?'.
I don't recall them having an answer to that...
I can beat that one. Just received renewal, to find a driver that ran up my **** while i was turning right, was paid out
WTF. Not happy, calling them tomorrow
Something like Glass's Guide?
The only thing I'm going to say about go compare is YOU need to go compare what you are getting and check the small print. I've checked four separate policies this year and did two last year. That was for two different houses and two cars. On all occasions by the time I'd got the cover that was actually needed the companies with go compare were significantly more expensive than a proper broker.
Buy cheap buy twice applies to everything in life not just welders.
There was a recent court ruling that means insurance companies can't reject a claim if the claimant told a white lie to expedite the claim, but didn't affect the validity of the claim.