Beware Car Insurance Cover on new cars......

Beware Car Insurance Cover on new cars......

Hi all,
I've just taken delivery of a new MG3
As a consequence, I've been looking at the small print on my AA car insurance policy, in conjunction with Gap Insurance policies. I did think that, in the event of a write-off or loss (theft) in the first year (actually 13 months with the AA) then the AA would replace the vehicle on a like-for-like new for old, so long as the repair costs 60% or more of the new car list price. Until I found this, purely by chance:

http://ift.tt/2go9rqU

- at which point I read the small print on my AA policy again. And strangely they don't make clear at what point (with respect to market value) they declare a car to be a write-off.

Basically, it is possible for your new car to be declared a write-off, yet still not qualify for the "new for old" clause. It could leave you very out of pocket. I've emailed the AA to seek written confirmation of their "write-off" policy.......

The bottom line is that it could be (probably is) very wise to start a Gap Insurance policy from Day One, rather than defer it for 12 months in the belief that the standard Car Insurance Policy will provide full cover in the first year.
HTH
Brian

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Beware Car Insurance Cover on new cars......