VRI/GAP Insurance

[Mr. Bird Poo]

I know there is a thread on this, but following my previous post I can't find it. Looking into this after my dealer mentioned it, it's something I'm very tempted to go for. In worst case I can't really afford to get screwed over with losing money especially as I am paying on finance. It would be the VRI I'd go for though to get the full invoice price, just over £17000.

Citroen have quoted £399, or 12 monthly interest free payments to that amount for three years cover. Though online I've seen companies offer it for less than half that and for four years. What are peoples views here and has anyone taken any out?

My car is fully comped with Admiral, if an accident was deemed to be my fault (though I'd not a total idiot and would be ashamed of myself if it ever was), in worst case do they still pay the remainder of the invoice price?

Easygap.co.uk seem to be very good price wise but would be good to know what you guys think.

I'd be tempted to go for:

Combi RTI £199 / £16.58 x 12 Interest Free Installments
All prices are inclusive of IPT.
Will pay the difference between your vehicle's value and either the original invoice price or the amount needed to settle the finance, whichever is the higher amount.*

[John S]

http://ds3club.co.uk/showthread.php?...=GAP+Insurance

[Mr. Bird Poo]

Cheers, I'll give that a good read though, much appreciated!

[Lel]

£242 for 4 years with click2protect, spoke to them on the phone and were very helpful

[dayouk]

Mine was about 180 for 20k of cover for 3 years, seemed better deal as i could afford to buy a carand have something left over instead of back to invoice. Ala seemed cheapest and good reviews. Citroen kept lowering their price on day of pickup and then offered to price match it.

[jaspabt]

Autotrader seems to win for me. i am still confused by it all but this is what they say their insurance covers.
Example:
Original Cost of your vehicle: £20,000
Deposit: £2,000
Amount of loan: £18,000
18 Months later the car is stolen or is in an accident and declared a total loss.
Amount still owing to your finance company: £12,000
The insurance company pays you only: £9,000
Without a GAP policy, you will owe: £3,000

So what will you have to do?
Simple! The Vehicle owner has to pay the GAP.
Original cost of your vehicle: £20,000
Deposit: £2,000
Amount of loan: £18,000
18 Months later the car is stolen or is in an accident and declared a total loss.
Amount still owing to your finance company: £12,000
The insurance company pays you only: £9,000
With GAP Insurance, you will receive: £11,000
So what will you have to do?
Simple! You receive the difference of £11,000, £3000 pays off the finance house, the remaining £8000 is yours.
If the finance owing is greater than the original invoice price, this policy will revert to Finance GAP and clear the gap between the balance outstanding and the Insurers settlement