Scratch & Dent Insurance - Your thoughts please.

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Scratch & Dent Insurance - Your thoughts please.

Post by GapInsurance.co.uk » Fri Aug 19, 2016 11:29 am

Hello all,

We're planning to shortly launch a new Scratch & Dent insurance policy which will cover the cost of repairing minor scratches, scuffs, chips and dents to a car.

Clearly researching other online provider's policies is relatively easy and we have *some* details of the products being offered by Motor Dealers but I was hoping to get a little feedback from you all in terms of what Motor Dealers have been quoting you for (and/or what cover you've bought) both in terms of price and the cover level provided by the policy.

Specifically I'm interested in knowing about the policies that Motor Dealers have offered you in relation to:
  • The duration of cover
  • The maximum number of claims permitted
  • The limit to the size of damaged area (lots of policies appear to be limited to cover only scratches/dents less than 15cm in length/diameter)
  • The payable excess per-claim
  • The number of body panels the damage is permitted to cover (exclude cover for damage (e.g. a scratch or dent) affecting more than one body panel).
  • The price you were quoted and/or (if different - e.g. after negotiation) the price you paid if you bought it.
Any information you can provide and/or any comments/thoughts/suggestions for product improvement would be very gratefully received and in return if this is something you're currently considering buying for a new car purchase, I'd be happy to explore (once it launches) some kind of reward in the way of discount.

Thank you in advance

David
Invoice, Replacement & Contract Hire GAP Insurance quotes at up to 85% less than your Motor Dealer
T: 01484 490095 E: support@gapinsurance.co.uk W: gapinsurance.co.uk F: facebook.com/gapinsurance

Mdx
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Re: Scratch & Dent Insurance - Your thoughts please.

Post by Mdx » Sat Aug 20, 2016 1:27 pm

Hi David,

7 weeks ago my son purchased his 1st new car ( not from BMW but Trust Ford )
He took out their cosmetic repair ins but thankfully your gap ins :D

I'll reply in the order you asked the questions, hope it's what your looking for?
FYI, I take delivery of my new BMW in about 5 weeks time. I plan on taking out your gap ins & will definitely be interested in this scratch / dent ins once it's up and running.

M



(1); 1, 2, or 3 year policy's were offered.

(2); In the 3 yr policy a max of 18 claims is allowed ( up to 12 in any one year )

(3); A chip(s) is area up to a max of 15mm in diameter or 3mm in depth & a touch up style of repair/s may be used.
Light scratch's is 30cm in length or 3mm in depth
Minor cosmetic damage is a chip,dent,light scratch & or a scuffed bumper but caused by a single incident & as long as the total damage does not exceed the 30cm / 3mm / 15mm rule.
Any thing outside these limits are not classed as a minor repair ( nor is any repair that would exceed 4hrs ) In this instance a contribution of £150inc vat would be given towards a bodyshop repair.

(4); No payable excess

(5); If a scratch / damage was up to the 30cm etc but covered two panels,eg front door onto back door this is classed as two claims.
Exclusions; Horizontal flat surfaces, roofs, bonnets, boot tops/ lids would not be covered if the repairer deemed it not possible to achieve a satisfactory finish.

(6); Cost was £355 for the 3yrs ( he didn't ask if there was any discount/ movement on that)

That's the reason I got him to come to you for gap insurance!!!

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Re: Scratch & Dent Insurance - Your thoughts please.

Post by GapInsurance.co.uk » Wed Aug 31, 2016 11:10 am

Mdx wrote:Hi David,

7 weeks ago my son purchased his 1st new car ( not from BMW but Trust Ford )
He took out their cosmetic repair ins but thankfully your gap ins :D

I'll reply in the order you asked the questions, hope it's what your looking for?
FYI, I take delivery of my new BMW in about 5 weeks time. I plan on taking out your gap ins & will definitely be interested in this scratch / dent ins once it's up and running.

M



(1); 1, 2, or 3 year policy's were offered.

(2); In the 3 yr policy a max of 18 claims is allowed ( up to 12 in any one year )

(3); A chip(s) is area up to a max of 15mm in diameter or 3mm in depth & a touch up style of repair/s may be used.
Light scratch's is 30cm in length or 3mm in depth
Minor cosmetic damage is a chip,dent,light scratch & or a scuffed bumper but caused by a single incident & as long as the total damage does not exceed the 30cm / 3mm / 15mm rule.
Any thing outside these limits are not classed as a minor repair ( nor is any repair that would exceed 4hrs ) In this instance a contribution of £150inc vat would be given towards a bodyshop repair.

(4); No payable excess

(5); If a scratch / damage was up to the 30cm etc but covered two panels,eg front door onto back door this is classed as two claims.
Exclusions; Horizontal flat surfaces, roofs, bonnets, boot tops/ lids would not be covered if the repairer deemed it not possible to achieve a satisfactory finish.

(6); Cost was £355 for the 3yrs ( he didn't ask if there was any discount/ movement on that)

That's the reason I got him to come to you for gap insurance!!!
Sorry for the delay - thanks for this. It's very useful.

To be fair, I think that sounds like he got a good policy and at a good price too.

Our 3-year policy only permits 9 claims (apparently our underwriters have had schemes permitting 18 claims in the past and had their fingers burnt so they no longer permit this. They tell me that existing schemes out there are being reduced down to 9 upon their annual renewal - that is the scheme permitting what can be sold... not aready live policies).

As for the price, £355 is good! Our equivalent (3years, 2-panels, 30cm, £0 excess) is £390 before forum discount (making £351) - maybe I need to put some pressure on the underwriter for even better rates :roll:
Invoice, Replacement & Contract Hire GAP Insurance quotes at up to 85% less than your Motor Dealer
T: 01484 490095 E: support@gapinsurance.co.uk W: gapinsurance.co.uk F: facebook.com/gapinsurance

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