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Discussion Starter · #1 ·
Anybody gone for Gap insurance? i.e. they freeze the value of you bike now and for the next 3 years.. so if stolen / written off etc, they pay you todays value.

Just taken out insurance on my Tornado RS.... and they have rung up to offer me Gap insurance for £17.50/month for next 10 months, i.e. £175. This would give me gap insurance for the next 36 months.

They will freeze the value of the bike at £5000... quite a bit more than I paid for it!

Good deal? Worth it? Havent read any small print.
 

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I had Gap insurance once years ago on a car but did not need it thankfully but It was not where they froze the price.

If you had a crash and the car was written off and the insurance did not cover what you were still due to the HP, then the gap insurance paid the rest

A bit different from what you have been told

It was also 300 quid

So does your way mean if you crash you get the insurance pays out to market value and the gap fills it up to £5000?
 

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Discussion Starter · #3 ·
"GAP Insurance is a type of insurance which, in the unfortunate event that your vehicle is deemed a total loss (write off) following an accident, fire or theft by your motor insurer, pays you the difference between the original purchase price of your car and the written off settlement paid to you by your motor insurer"

They dont normally do for used I thought so was surprised to be offered it. As I understand it, if for example Tornado stolen/written off in a years time and insurers only give me £3000, then the gap insurance will pay £2000 to make it up to the purchase price... or 5000 in this case.

Insurance always a risk/benefit weigh up. When I first got my new VFR when had only been riding 6 months was very expensive... I went 3rd party for first 3 years.. saved myself about 1800 over the three years.. and luckily didnt have a claim!
 

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Sounds like a good idea. I did ok with my claim but was astounded at how easily the bike wrote itself off. A relatively minor tumble certainly trashed the bike.. Mind you R&G crash bungs might be an even better bet ... Mike
 
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