NEW :: MBO INSURANCE - 3 years' GAP Cover from just £82.34

ChrisKnottIns

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Yes, you read it right - our all NEW 3-year GAP Cover really does cost just £82.34 for vehicles valued under £15,000 and even vehicles valued at £75,000 can be covered for only £238.04.

Don't take the dealer's product until you've checked out MBO GAP Insurance.

Two types of cover
You can either buy our Combination GAP cover within the first 90 days of ownership to guarantee the invoice or finance value (whichever is greater) in the event of a total write-off or, at anytime thereafter, our Valuation GAP cover which freezes your car's current value for the next 3 years (subject to an 8 year old/80,000 mile limit at inception).

Ask us for a stand alone quote or combine the cover with your car insurance - simply call 0800 028 6463 or 01424 205073 and follow the 'car insurance' options to find out just how affordable MBO GAP Cover is.

We realise that your 'club car' may fall outside the age or mileage requirements but we find that many people have more than one car. It's common for owners to use their club car as a toy and also have a newer everyday car in the stable. So, if you're thinking of GAP cover for any of your cars, please remember MBO GAP Insurance.
 

cleverdicky

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Sorry to ask, what is 'gap' cover ?
 
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ChrisKnottIns

ChrisKnottIns

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You can find out more at the links in the OP but essentially: In the event of a total loss, your insurer will only pay you the market value of your vehicle at the time of the loss. However, you may have outstanding finance owing on the vehicle which is greater than that market value. In any case you'll get back less than you paid for, or owe, on the vehicle.

Our Combination GAP Insurance covers you for 3 years and pays you the difference between your insurer's payout and the net purchase invoice price or the outstanding finance amount (whichever is greater) so you can buy another car for the original value (as long as you arrange cover within the first 90 days of ownership).

With Valuation GAP Insurance you can freeze your car's current value for the next 3 years and therefore not suffer any depreciation if you have to claim. This insurance covers you for 3 years and pays you the difference between your insurer's payout and today's Glass's Guide valuation of your car. You'll be able to buy another car for the original value rather than a lower amount.

Hope that explains it.
 

orb the Impaler

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The £82 sounded competitive until I saw the "up tp £15000". What kind of premium would we be talking for a £36K list SLK? The policy I took out was £135.






(Mind you, you doubtless won't offer GAP cover to people in OL postcodes since we're all thieves, or my car is more likely to be written off in the post-Apocalyptic wastelands in the grim north, eh?)
 
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ChrisKnottIns

ChrisKnottIns

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The £82 sounded competitive until I saw the "up tp £15000". What kind of premium would we be talking for a £36K list SLK? The policy I took out was £135.


(Mind you, you doubtless won't offer GAP cover to people in OL postcodes since we're all thieves, or my car is more likely to be written off in the post-Apocalyptic wastelands in the grim north, eh?)

Vehicles valued between £25k and £50k can be covered for £151.09.

We can cover vehicles in OL postcodes on the GAP product without issue and can even cover some now on the car insurance following a relaxation by the insurers.
 

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When does the gap insurance have to be taken out? Is it quite separate from the normal insurance?
 
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ChrisKnottIns

ChrisKnottIns

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It is completely separate from the car insurance Carabosse and you can take the Combination GAP at any time in the first 90 days of ownership. The Valuation GAP can be taken at any time in the vehicle's first 8 years (as long as the mileage is less than 80,000 at the start of the GAP policy).
 

Carabosse

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It is completely separate from the car insurance Carabosse and you can take the Combination GAP at any time in the first 90 days of ownership. The Valuation GAP can be taken at any time in the vehicle's first 8 years (as long as the mileage is less than 80,000 at the start of the GAP policy).

That's interesting. I have a feeling I will be in touch about this! ;)
 
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ChrisKnottIns

ChrisKnottIns

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If you're buying a new MY63 registration car in September and you're considering GAP cover, remember that the dealer's version is often extremely over-priced.

The premium is based on the invoice or finance amount of the car but we have heard of cases where the dealer wanted £399 or more for 3 years' cover on a car bought for £23,995 whereas our price for this same cover is just £112.68 (£15k vehicles are only £82.34).

Check out MBO GAP Cover before you go to the dealership so you know what your options are.

There are details of our Combination GAP Cover here - GAP Cover for new cars.
 

Carabosse

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remember that the dealer's version is often extremely over-priced.

Indeed so. I was offered pricey Gap cover by the dealer but declined it and went with Chris Knott. :)
 

grober

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Most standard car insurance policies will give total replacement value for the first year of ownership. So is the cover in essence for 2 additional years??
 
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ChrisKnottIns

ChrisKnottIns

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It does cover second hand vehicles too but in essence for a brand new car it would be 2 years' extra cover but of course based on the original net invoice selling price or finance amount.

It's something we're looking at to see if the provider will extend it so the 3 years begin after that initial 12 months.
 

Robo cls

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Was offered a reduced 3 year gap insurance by a Mecedes main dealer for £300. 1 week later they phoned me up to say they could do it £150 but I would have to decide by 5:30, it was 4:45 when he phoned. Then today whilst I was watching the Motogp he phoned me again!!! £100 now. Will wait till tomorrow it might be £50:lol:

I was actually getting a bit annoyed as he couldn't believe I didn't want it at such a knock down price! Pushy salesman or what! I only just bought a car off them nearly two weeks ago. I think someone's on a good commission by the way he kept telling me he needed to sell just a couple more this month.
 

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