Jitm
Member
Finally bought insurance from Directline. It was very minor difference between Peugeot and Directline so went with it to avoid any confusions with Peugeot.
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Insurance New Vehicle [2021 Megathread]
- Thread starter MrBadger
- Start date
HenryT
Active Member
Would be my nightmare
Just asking as it's my first lease and unsure what really happens if the car's a write off... assume you have to pay monthly for it still even though it can't be used anymore but wondering if it gets replaced or not! I'll shoot them an email and drive carefully when it comes...
HenryT
Active Member
Makes sense.Would be my nightmare
I would suspect the insurer would pay the lease co as the owner and they would look to end the contract and come to you for any shortfall - should all be covered in termination rights or similar?
Good luck with your car.
Would be my nightmare
If it's written off, insurers will typically pay out market value. Your problem isn't the insurer, it's the finance company and any shortfall ie the difference between the payout and what it costs to settle the finance. This is where GAP insurance comes into it. Most brokers/lease companies will have tried to sell you this cover before you get the car. You can organise your own
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I don't think there is a loophole, but they could well have changed their risk profile by then. Personally whilst they were cheaper then DL and Churchill, the excess was more - and if I lowered it on DL it was almost the same price - but these things are very dependant on the person/mileage/location/history etc.
Well for the first year of a car's life, you don't need any GAP cover with Puegeot as they cover full value in the terms and conditions.
What about lease cars? I was going to get gap insurance contract hire plus from ALA.
I'd probably be getting GAP anyway as just finding a new M3 like that seems pretty unlikely!
Hi Guys, Just wanted to let you know I've just got off the phone with Peugeot and they have told me they do not insure new Tesla vehicles! I rang to confirm a few details and they landed this news on me. They said if id applied online it may have gone through, but they would have sent me a letter!
Very bizarre.
Very bizarre.
Ring back. You clearly got one of the advisors who doesn't know what they're talking about. I can assure you they do insure new teslas as long as it is under 75k market value.
I called up got a quote and paid over the phone, and received my documents today. Seems there's a lot of miscommunication within their team.
Ok, Update, after speaking to another young lad he also said the same! I asked him to speak to a manager, so he did, and then came back asking if id had Peugeots 7 Day cover, to which i replied no, to which he replied, yes we would cover it then.
It has not filled me with confidence to be honest but I may proceed with them.
I have to say both calls were the least professional sounding calls I've ever had with an insurer.
It has not filled me with confidence to be honest but I may proceed with them.
I have to say both calls were the least professional sounding calls I've ever had with an insurer.
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