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Retail price protection

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  • Retail price protection

    Has anyone come across a dealer package whereby if following an insurance claim your car is deemed a total loss or stolen and not recovered AFTER 12 MONTHS from new you are guaranteed the amount of money of the difference between the insurance company's market value of the car at the time of the loss and the cost of a new one? I think it's called retail price protection or something. It is similar to GAP insurance when you take out finance. Is it a gimmick or something really worth considering?

  • #2
    It's GAP insurance mate. I've got it for 3 years on mine - There are 2 levels, mine will pay the difference between the insurance payout and the price I paid for the car.

    I am surprised you didn't get this offered by the dealer.

    It's wll worth it in my opinion for £365
    Sold - Arden Blue Astra VXR on 19's
    Ordered - Pure White Golf GTI on 18's (couldn't stomach paying for 19" tyres any more!)


    • #3
      If you can PM me your address Ill send you a leaflet on GMAC;s gap insurance, its pretty good at describing what it actually is, although each company has their own product they are all pretty much the same.

      Most policies cover you for the first 3 years that you have your car and there are different levels of cover available. If you took finance on your car then you should legally have been offered this at the time in line with FSA regulations. But yes it is a very worth while product.


      • #4
        Thank you people.

        How strange that these posts arrived now as I have only just had my question answered elsewhere this afternoon - spooky!!!!

        I am definitely having one of these packages. It is called return to invoice insurance (with my dealer). For only £8.25 per month, if in year two to five my Astra VXR is a total loss, I get the insurance pay-out on current market value and then this package will make up the difference so I get back exactly what I paid for the car originally and, they will pay up to £250 excess!

        By the way (and sorry to go off topic but the dealer contact dealt with this during the same conversation), although I am still considering Paintshield (been corresponding with Tom) I have just agreed a complete Supaguard package with my dealer for only £125.

        More money for the Milltek re-map!!!! (Car is due in Nov)


        • #5
          yeah im just getting this sorted just now as its really worth it especially if your with an insurance company like elephant who will only give you the market value of the car even if its under a year old, Norwich Union give you new for old if its total loss and less than 12 months old


          • #6
            Took the GMAC GAP insurance myself. Covers for up to £10K difference between insurance claim and price paid, and all for around £360. Paying it up monthly for £30 month, no interest charge. Worth it if you ask me, especially as most will have finance on car and this is a way of ensuring that you get back what you have left in finance payments.