Suggested claim limit for an M2?

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5678
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Suggested claim limit for an M2?

Post by 5678 » Wed Nov 22, 2017 3:00 pm

What would you advise?
'18 F87 M2 LCI
'15 X5 30d
'04 Clio 182

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AndytheGreek
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Re: Suggested claim limit for an M2?

Post by AndytheGreek » Wed Nov 22, 2017 3:11 pm

i put £50k on mine, made little difference on the premium tho
2017 M2

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Re: Suggested claim limit for an M2?

Post by GapInsurance.co.uk » Wed Nov 22, 2017 3:43 pm

5678 wrote:
Wed Nov 22, 2017 3:00 pm
What would you advise?
Hi.

There are various factors which affect what would be deemed to be an appropriate claim limit, not least the policy type (Invoice, Replacement or Contract Hire GAP) and the duration of cover you're seeking.

Some questions (either get back to me here on this thread or, via PM):
  • Is this for a brand new vehicle or used?
  • How have you funded it? (E.g. cash, financed or leased)
  • If financed, what is the term of the finance agreement?
  • If financed by way of a PCP agreement, how much is the balloon/residual value payment due at the end of the term?
  • How much are you paying to put the vehicle on the road (after discount but before deposit and/or part-exchange allowances)
  • If purchased/financed brand new, what is the full list price of the vehicle (E.g. if you'd have received no discount whatsoever)?
  • If leased, how much are your monthly rentals (inclusive of VAT but exclusive of maintenance) and what is your payment structure (e.g. how many upfront as an initial rental followed by how many regular monthly rentals)?
  • How many miles per year do you expect to drive?
Best wishes

David
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