settling in nicely
Join Date: Jun 2008
Location: near(ish) Ballymena
Local Time: 12:12 AM
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i got return to invoice insurance on mine for £124 (3 year cover) underwritten by AXA from Surf and Protect. Initially it was more, but they have a price match policy plus a fiver extra off so i got them to price match click4gap, i was happier with a known industry name being the underwriter.
I thought it was worth having for that sort of money as i am repaying the car for the next three years and would hate to be in the situation where the car is written off and has depreciated more than i have repaid - as i do big miles this would be likely the case. For my policy the max repayment is 10k but you can get more - my car was £17.5k invoice price. You can go higher for a car of greater value which is probably recommended, perhaps 15k cover? Depends how much it's likely to be worth after 3 yrs, if less than 14.5k then you should top it up.
technically though it is only really two years cover (years two and three) as my insurance policy pays out the full purchase price if the car is totalled in the first year.