Gap Insurance

Jonhall41

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Hi
I’m hopefully taking delivery of my new R1200GSA in the last week of June / first week of July???!!! I was wondering if anyone bothers with Gap Insurance and if so who do you use and what type of policy i.e., return to invoice or vehicle replacement.
Thanks in advance.
Jon Hall
 
Have a look at the thread in the pub about a written off nine month old bike.

Ideas on what some people do and comment that it gets foisted on bods.
 
Depends if anything may happen to your new bike

If something does befall it, it's money well spent

If you get away scot-free, on your awesome new stead......................then it's money down the drain, which you could have spent on a Mudsling - which has a proven use & benefit

Insurance, only any use in the event of a successful claim
 
bought it for my first new GSA, didn't bother for the second.

i'm not good at decisions :D
 
Wow thanks for the quick response!
Wapping – never thought to look in the pub section – apologies
Cookie – can I ask if it was offered to you by the dealer or did you go with a third party?
Cheers
Jon Hall
 
I bought it from the dealer. I can't remember the cost, which is probably just as well.

Just bought a new KTM, and didn't bother with it on that either. Wasn't offered it.

I think it comes down to: can i afford to make up the difference in the relatively unlikely event of the bike being written off or stolen?
 
I was offered it by the dealer, but got return to invoice from EasyGap for a fraction of the price.:thumb It's also transferrable between bikes, if you change bikes often.:beerjug:
 
GAP...................... The next PPI

Just give it time, you'll see. An insurance to cover insurance that isn't fit for purpose. :rob

I was left £1800 out of pocket even with GAP after a fire destroyed my seat Leon. Never again
 
Yet I think GAP, or in my case return to invoice insurance, is OK. To liken it to PPI is ridiculous IMHO.

Granted, if you don't need it you've wasted your premium, but this is the same for any insurance. When I wrote off my K1200S in 2006 the GAP insurance paid off the difference between what the insurers paid out and the invoice price, including the insurance excess. The bike was fairly new so it wasn't a massive amount but it was several times what the premium cost me.
 
Dude – sorry to hear that Swesty – Trebor can I ask you which company you went with for your RTI insurance?
Cheers
Jon Hall
 
When I wrote the K1200 off it was BMW's Insurance, at that time it was underwritten by St Andrews and was quite expensive, but if you sold your bike on you could claim back the unused portion of the insurance pro-rata (which I did with my last bike, only had it 2 years so claim 2 years premium back. They've since changed underwriters, I have my current bike with BMW again but it was quite a bit cheaper at £250 (I think) for 4 years, but if you sell the bike early you can't claim any of the premium back. You can get this type of insurance much cheaper with other insurers, such as EasyGap.
 
My brother in law had a 3 day old car written off in an accident a good few years ago, no gap insurance and he ended up £5000 out of pocket
 


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