Member Since: 29 Jul 2011
Location: Ruralshire
Posts: 593
GAP Insurance - Car 2 Cover FSA Protection ?
I'm looking at getting some GAP vehicle replacement insurance for 3 or 4 years and have found that Car2Cover offer a £50K claims limit. All the other insurers seem to offer a maximum of £25K, but 3 or 4 years down the road I don't think this will be enough to cover the gap.
My question is about the FSA protection I will enjoy:
In the Ts&Cs Car2Cover is the website name of Click2Protect
Click2Protect is authorised and regulated by the Financial Services Authority - so protection is normal
HOWEVER (see http://www.car2cover.co.uk/bmt_mymedia/fil...D_8_11.pdf
The Insurance is underwritten by Enterprise Insurance Company Plc, registered in Gibraltar, authorised and regulated by the Financial Services Commission in Gibraltar and is licensed to operate in the United Kingdom by the Financial Services Authority
- SO WHAT PROTECTION IS THIS ?
Thanks for taking the time to read to the end of this post. Any financial advisers out there know the answer ?
JimboMY12 D4 HSE Ipanema Sand
21st Nov 2011 5:21 pm
kam100
Member Since: 27 Jan 2006
Location: Midlands
Posts: 265
Protection will be available via the FSA as they are operating in the UK.
All the major GAP providers, ourselves included offer GAP insurance from large European Insurers who are big on GAP.
There tend to be four main players:
- AM TRUST EUROPE - or IGI Insurance. (Europe).
- Enterprise Insurance (Gibraltar)
- Mapfre Abraxas. (Spanish)
- Also Fortis (Belgian) who have recently been taken over by BNP PARIDAS (French)
A lot of Land Rover dealers offer via Mapfre white labelled to LR GAP.
We currently provide packages from AM TRUST Europe, via our website: www.gapinsuranceuk.net we have monitored prices and have ensured they are cheaper than all the other providers.. However our claim limit for 40-80k cars is £25k like the rest really..
We will have a product on offer by Jan with a £30k claim limit for cars up to £75k, but as of now £25k is the best we can do..
Our price is hopefully still the cheapest out there that you can find..
Cheers
25th Nov 2011 12:59 pm
row_perfect
Member Since: 01 Jan 2011
Location: Kent
Posts: 291
Read the T's and C's very carefully if you go off-road. Some specifically exclude vehicles that have ever been off road (so even if the write-off happens on-road you're not covered).D4 HSE, Active Rear Diff, surround cameras, adaptive xenons, heated steering wheel, TPMS, remote park heating, centre console cooler box
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25th Nov 2011 1:06 pm
kam100
Member Since: 27 Jan 2006
Location: Midlands
Posts: 265
If your road going insurance provider, on taking your car in after inspection pays for the car, then the GAP will also pay out.
If your car is found to have a broken axle or something else from driving off road, which contributed to the accident/write off, and hence the insurance company doesn't pay out, then neither will the GAP insurance.
If you are using the car off road, then you should have adequate insurance cover.
If you can tell your car has been off road by damage on the car, which could arguably contribute to an accident leading to a total loss claim, then it would be a valid point hence an insurer may not pay out, and neither will the GAP.
Assess the T&C's with your circumstances and go with the cover which suits you best.
The majority of claims are for theft, and for total loss accidents on the road hence policies are tailored to the masses.
25th Nov 2011 1:13 pm
row_perfect
Member Since: 01 Jan 2011
Location: Kent
Posts: 291
I note that your T's & C's are fine wrt off-road use and what you've stated above is perfectly reasonable - if it's not in road-worthy condition it shouldn't be on the road.
My only point was that some contracts explicitly exclude any vehicle that has ever been off-road. I'd hate to have an accident then find out that GAP insurance wouldn't pay out because of a scuff on the underside and suddenly be £20k+ out of pocket!D4 HSE, Active Rear Diff, surround cameras, adaptive xenons, heated steering wheel, TPMS, remote park heating, centre console cooler box
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25th Nov 2011 2:10 pm
D4mation
Member Since: 29 Jul 2011
Location: Ruralshire
Posts: 593
Thanks for your responses guys - I am slightly more confident that FSCS protection is available - I think .
My existing motor policy provides replacement vehicle cover for the first 12 months anyway and I've checked with them to see what "replacement" means and in essence if it's on the car sales invoice, apart from registration and tax, they'll buy me another one to the same spec including options and accessories. So I'll probably buy 3 years worth of replacement GAP and defer the start for a year.
PS I don't think I want to take a £55K car off road into the ruts and brambles thanks, but my dealer did give me an LRE voucher, so I might go and rough up one their vehicles instead.MY12 D4 HSE Ipanema Sand
25th Nov 2011 6:36 pm
Bill Wright
Member Since: 03 Nov 2007
Location: Glorious Devon
Posts: 3254
Covered in other parallel threadNever take life too seriously. Nobody gets out alive anyway.
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Last edited by Bill Wright on 25th Nov 2011 7:51 pm. Edited 1 time in total
25th Nov 2011 7:41 pm
THUB
Member Since: 10 Dec 2005
Location: West Berkshire.
Posts: 717
Are there two sets of posts on this topic?
25th Nov 2011 7:46 pm
kam100
Member Since: 27 Jan 2006
Location: Midlands
Posts: 265
I note that your T's & C's are fine wrt off-road use and what you've stated above is perfectly reasonable - if it's not in road-worthy condition it shouldn't be on the road.
My only point was that some contracts explicitly exclude any vehicle that has ever been off-road. I'd hate to have an accident then find out that GAP insurance wouldn't pay out because of a scuff on the underside and suddenly be £20k+ out of pocket!
Totally understand and agree.. I would definitely argue the point about how they can define if you vehicle had been off road, or if you had just crossed a grassy embankment one time!? Also if the insurer pays out, the gap insurer does not have access to the vehicle and does not generally inspect the car.. they pay out based on your insurers evaluation of the circumstances..
Yes if they say they won't cover if the vehicle has been off road, and your insurer does.. and the accident was caused with your vehicle rolling over on a D4 Fun day out with LR to off road your cars.. then they may have an issue!
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