Real life Gap Insurance Claims

What happens when you make a gap insurance claim?

No matter which company you buy you policy from making a gap insurance claim is never nice.

Making a gap insurance claim is never something to be looked forward.

Making a gap insurance claim can be stressful, and upsetting.

No matter how hard we try and we genuinely do making a gap insuarcne claim involves something bad happening. Just the event that led up to your vehicle being written off can be trausmatic.

Either your vehicle has been stolen or even worse you have been involved in an accident, which has been so bad that your vehicle sustained enough damage to warrant your insurance company deciding to settle.

This means that by the time you come to make a gap insurance claim you can be under a lot of stress. This means that it is really important to understand how your gap insurance will progress.

So what is involved in making a gap insurance claim?

When you make a gap insurance claim the most important aspect it to make sure that you have given all the relevant documentation as soon as possible. After all your own insurance company just like your gap insurance company will need to check some legalities.

For example as part of your gap insurance claim the underwriter we need to see evidence that you owned the vehicle via your V5 log book. They will also need to see copies of your insurance certificate and where necessary your finance agreement.

The next stage of your gap insurance claim is where how your policy performs will depend upon your supplier. Some shortfall policies as part of your gap insurance claim will negotiate directly with your own insurance company and agree settlement.

Some policies as part of their gap insurance claim will however rely upon you to liaise back and forth.

In our opinion the first is the better for of claims handling. Not because we do not think that you would be able to negotiate or even than we do not think that you would do a good job instead it is simply that we do not think that it is fair to put you in that position at what can be such an upsetting time.

Either gap insurance claims procedure will ultimately offer you increased protection however we would recommend that you understand your cover before you buy so that there is even any unexpected surprises and you know in advance how your policy would perform.

After all the only real acid test of any shortfall policy is when you come to make a gap insurance claim and then it is too late to discovery that your policy or the claims procedure is different that your expectations.

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