GAP Insurance??

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GAP Insurance??

Kitten0212

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Feb 4, 2007
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This is a bit of an non-related fiat question. I had a brand new suzuki alto on hp and i wrote it off in November :cry: i have already received my insurance pay out but im having trouble getting the 1500 off my gap insurance to pay my hp off completely which is rather annoying me as i have found a really nice cinq that i REALLY REALLY want for £2000 and dont want to apply for more credit till the alto has gone as i wont get it. The reason why the gap cant process my claim is because i didnt contact the finance company till i knew for sure that my car was a wrote off which was mid/late december (slow insurance company!!!) to get a settlement figure. Therefore the settlement figure is later than that off my vechicles loss date and they wont accept it even thou it surely would be less as iv made more payments (3months now). My finance company which is fiat wont / cant back date a figure either and wont speak to my gap insurance. So at the moment it looks like i may be stuck with the alto loan uncleared and im very tempted to spend some off that insurance pay out on the cinq i like it after a test drive which i should think i will like driving as apparantly its similar driving to my alto if not better. Other alternative is going without a car for bout 3 months which ermm...really dont wana do - almost suicidal thought.

Has any one had similar experiences? or any advice?

Kit x
 
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G Spag

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Oct 7, 2005
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If they wont update the old settlement figure, have you requested a new one ? If you've paid 3 more payments since the old one the only negative is the amount of interest that is removed is less than it would have been originally.

Edit: Sorry, did the GAP insurance tell you why they wont accept it? I was under the impression with the copy of the insurance pay out and a copy of an up to date settlement they would be able to cover the rest?
 
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Kitten0212

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So did i but apparantly in this case an up to date figure isnt good enough they need a back dated one from the accident they have everything else they need but that.

The GAP insurance wont except the settlement figure letter as it is a later figure than when i had the accident and they need a figure at the date of my accident not a later one. Accident was 8th November and the figure from finance company was made up late december. So tommorow i will be phoning the GAP insurance and investigating why they wont pay the later figure as that would work out cheaper for them and if that dont work im stuck. Oh it makes me so annoyed!!
 

G Spag

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Sounds like they're trying to get out of paying out. It really doesn't make sense though, what would be the point in getting a settlement figure on the date you had the accident, not knowing if the insurance company would pay out! Plus settlement figures last for about a month, so by the time the insurance comapny paid out it would have expired! They would know this because they know the figure would change on a monthly basis.

If you have no luck tomorrow maybe have a word with the Citizen's Advice or Financial Ombudsman Service with reagrds to your rights, they'd be able to give you an idea on where you stand.
 
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Kitten0212

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I know they are annoying. Hopefully i wont need the FOS though . I have hopefully got it sorted today.............Yipee then i can get my cinq that i want (maybe not that one as it would have gone in about 4/5 weeks i should think but one similar :) ).
 
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Kitten0212

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Oh dear me how blonde am i. Yes it was a sei and it has all the following and i want it but im not going to be able to have that one inless its still there in 5 weeks :(

FIAT SEICENTO 1.1 Michael Schumacher Sporting 3dr , 3 Doors, Manual, Hatchback, Petrol, 2001 Y Reg , 62,000 miles, Yellow. Folding rear seats, Immobiliser, ABS, Alloy wheels, Radio/CD, Central locking, Rear headrests, Computer, Driver airbag, Electric windows, Foglights, Power assisted steering, Sports seats, Sunroof. Insurance Group:4, Supplied with full MOT, full service with new cambelt, 3-12 months parts and labour warranty
 
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Kitten0212

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Oh iv just found a red one as well thats better for only £500 more and also found out that cars a limited edition :( so changes that they are going to be any about in 5 weeks are ermm...
 
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