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THEFT WARRANTY

D

DSM

New member
Hi all. Hopefully, in less than 2 weeks I will take delivery of my new C2S. A couple of questions that you might help me with:

Theft Warranty - I have a pretty competitive quote from Porsche Insurance Services, but they say that the policy will be subject to 'the Theft Waranty', without explaining what that is. Any ideas?

Also, I have been offered by the OPC 'Gap Protection' to cover the difference between the Insurer's pay out and the cost of a new car, should it get nicked or totalled. About £600 for 3 years cover. Seems reasonable but is it good value / worthwhile?

Any comments appreciated.

 
When it comes to insurance qualify what is meant and the exact cover provided.

theft cover could be, and I don't know, if the car is stolen and recovered, you don't loose out due to damage.

I personally have not ever bothered with the gap insurance, despite driving around in a £60k car.

How many cars have you had totalled in the last 3 years and then you have to work out the likely 'gap' that an insurance won't pay and THAT is what you paying cover for.

I think personal choice on this one ..




 
I also feel that GAP insurance is poor value for money. In my experience most insurance policies include a clause that covers the replacement with new if the insured car is written-off within 12 months of first registration, so really you're only buying cover for any period beyond that. Give A-Plan (01635 874646) and Performance Marque (0121 2480911) a call these were the most competitive for me when I reinsured recently.

BTW PIS underwriter is NU and I've read some poor reports on this forum of NU - use the search facility to locate these.
 
I purchased the GAP insurance .. £295 on the Turbo
Its a total waste of money until you need it..[:eek:]

garyw
 
yeah I'd echo what the others have said on the GAP insurance. I fell for it during the final part of the sales push and handed over an extra £800 for 2 sheets of A4, I mean 3 years cover. Complete waste of time.
 
ORIGINAL: garyw

I purchased the GAP insurance .. £295 on the Turbo
garyw
Click to expand...

£295 to provide GAP cover for a Turbo compared to £600 for a C2S is certainly better value - did you buy this through your OPC?
 
Nope.... GAP at the OPC was about £1000
I used Lombard, but bear in mind that GAP is a product in its own right and can be purchased separately to other costs/items.

garyw
 
Yves had a post on GAP cover a while back......

I paid £300 from an OPC for 3-year GAP cover on my C4S - list price with options circa £80k.

I didn't plan to take out the cover when I bought the car, but at the price it seemed worthwhile - I've no idea why it was so 'cheap' compared to the terms other people have been offered (I didn't haggle).

I'm pretty sure it is the standard policy offered by the OPC.

Sidicks
 
Well, finally got my question answered. If car totalled / stolen not recovered, in first 12 months, new car to same value. After that market value of car specced as it is.

£600 now seems pretty steep. Won't bother.
 
I had GAP insurance on my Subaru. Had it stolen in April

Got £23K back for a 3 1/2 year old car worth £12K, for me GAP insurance (or more acurrately VRIP vehichle replacement insurance protection) was well worth the £300. Just get the start of the protection delayed for the first year when your road insurance will pay up full price anyway.
 
ORIGINAL: DSM

Well, finally got my question answered. If car totalled / stolen not recovered, in first 12 months, new car to same value. After that market value of car specced as it is.

£600 now seems pretty steep. Won't bother.
Click to expand...

Similar product but not the same then.., mines based RTI (return to Invoice) as per GaryC's and runs for 3 years

garyw
 
ORIGINAL: Ronnie C

yeah I'd echo what the others have said on the GAP insurance. I fell for it during the final part of the sales push and handed over an extra £800 for 2 sheets of A4, I mean 3 years cover. Complete waste of time.
Click to expand...

Was the best insurance I ever bought.

Ended up financing my Carrera.
 
ORIGINAL: garyw

ORIGINAL: DSM

Well, finally got my question answered. If car totalled / stolen not recovered, in first 12 months, new car to same value. After that market value of car specced as it is.

£600 now seems pretty steep. Won't bother.
Click to expand...

Similar product but not the same then.., mines based RTI (return to Invoice) as per GaryC's and runs for 3 years

garyw
Click to expand...

Think i misled you. My standard policy gives me that cover, so the GAP is not that good value in the circumstances.
 
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