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post #1 of 8 Old 05-28-2018, 11:48 AM Thread Starter
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USA insurance

In the UK there is a thing called 'Gap' insurance to cover the difference between what an insurer pays by the 'blue book' value of your car, and what it actually cost.

Our '18 GLA is stacked with options; in the US am I likely to need something additional to 'top up' the insurance so that, worst case, if the car is stolen or totalled we get something back to the same specification?

Thanks

Matt

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post #2 of 8 Old 05-28-2018, 03:20 PM
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Quote:
Originally Posted by SockToy View Post
In the UK there is a thing called 'Gap' insurance to cover the difference between what an insurer pays by the 'blue book' value of your car, and what it actually cost.



Our '18 GLA is stacked with options; in the US am I likely to need something additional to 'top up' the insurance so that, worst case, if the car is stolen or totalled we get something back to the same specification?



Thanks



Matt


I have gap insurance for all my cars. I used it once last Sep when my daughter had an accident and totaled the 1.5 yr old Buick. So, the gap came in handy to cover the difference between my auto loan and what the total loss value.


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post #3 of 8 Old 05-28-2018, 03:22 PM Thread Starter
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I have gap insurance for all my cars. I used it once last Sep when my daughter had an accident and totaled the 1.5 yr old Buick. So, the gap came in handy to cover the difference between my auto loan and what the total loss value.


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Any recommendations on good suppliers? UK also has widespread cost comparison sites, doesnt seem to be a thing here ;p

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post #4 of 8 Old 05-28-2018, 03:28 PM
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Quote:
Originally Posted by SockToy View Post
In the UK there is a thing called 'Gap' insurance to cover the difference between what an insurer pays by the 'blue book' value of your car, and what it actually cost.



Our '18 GLA is stacked with options; in the US am I likely to need something additional to 'top up' the insurance so that, worst case, if the car is stolen or totalled we get something back to the same specification?



Thanks



Matt

On the Buick it was GM themselves. So far none of my gap comes directly from my car insurance provider. I also have two from the dealer for my Gla and Toyota. Itís best to check with your current insurance provider.


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post #5 of 8 Old 05-28-2018, 09:12 PM
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In the US GAP insurance is to cover the difference in what is owed on the loan and the car value at the time it is totaled. Example you owe 45k on the loan and they total the car and its actual value is 40k the GAP pay the 5k difference between what the insurance pays 40 and the loan 45k.

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post #6 of 8 Old 06-01-2018, 02:40 PM Thread Starter
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Yeah, I want gap to replacement value. I dont have a lease ;p

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post #7 of 8 Old 06-01-2018, 04:17 PM
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You will need to shop insurance companies and find you that will sell you insurance for your replacement value. May sure they are insuring the value you want and not the replacement they set. This might be hard as insurance general replacement value is what is the current selling value. Seen adds where a insurance company claims to replace with a equal or year newer car and another that would replace at a higher value but had a extra premium for the added coverage.

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post #8 of 8 Old 06-01-2018, 04:22 PM
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Yeah I see Liberty Mutual ads and I would think itís going to be high premium.


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