Gap Insurance

Discussion in 'Motorhome Insurance General Discussion' started by Bluemooner, Jun 14, 2012.

  1. Bluemooner

    Bluemooner Funster Life Member

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    Does anybody have Gap insurance covering there motorhome? If so which is the best company to use?

    Andy
     
  2. John & Joan

    John & Joan Funster

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    Excuse my ignorance Andy but wat is GAP insurance?

    John
     
  3. Bluemooner

    Bluemooner Funster Life Member

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    This could be hard, if you buy a new vehicle and write it off your vehicle insurance wont pay the full amount of what you paid for it, gap insurance pays the difference so you get back the amount you paid i have it on my cars i hope that explained it

    Andy
     
  4. Bluemooner

    Bluemooner Funster Life Member

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  5. Geo

    Geo Trader - Funster

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    Of more interest has anyone actually has a good result from Gap insurance:Wink:

    Geo
     
  6. bigfoot

    bigfoot Funster

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    Unles you are with a really good and understanding insurer,they will avoid paying out. Somw will value on the base vehicle and put on a minimal amount for the conversion.
    I have GAP as my vehicle was bought new and is only 2 years old. If you have an insurer that knows motorhomes it shouldn't be neccessary,but does one exist?
     
  7. John & Joan

    John & Joan Funster

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    Thanks Andy
     
  8. sedge

    sedge Funster

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    Yes - GJH's insurer.

    No they didn't settle for the price of a brand spanking new one, but it was a very acceptable amount for its age and condition and if you put the premiums you would have spent over the years on top, then there probably wouldn't be all that much difference. Motorhomes aren't like cars - ie you buy brand new, you drive it off the forecourt and before you've driven 100 yds you've already lost 10%.

    I don't actually know what the rate of 'deflation' is with them on average - could someone else comment on that?
     
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