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Smart Shopper Gap Insurance
440 messages, Last post on Sep 24, 2009 at 1:20 PM
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Replying to: nkmonty1 (Aug 29, 2007 9:05 am) Some different Gap companies do offer $1000-2000 toward your next vehicle purchase if you go back to the same dealer in which you bought the vehicle from and if it was a Credit Union whom you purchased the GAP from they may offer it if you finance again with them. The best way to find out is to read your policy. The GAP that i offer my clients does not have the $1000 toward the next car but does pay the insurance company deductible up to $1000.00. |
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Hi Anyone out there have an opinion on GEICO? I am astounded at how much less my auto insurance would be w/ GEICO versus current insurer, Chubb. I have 5 drivers, 3 vehicles and 3 of the drivers are"youthful",ie: under 21. I have compared all the data,the only items I can't figure out are: 1) Reparation Benefit ($100K) on chubb versus Bodily Injury and Property Damage (500/500/100) on GICO Are these comparable items? 2) Agreed value_ Chubb lists values and GEICO says use Kelly Blue Book Any ideas?
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Replying to: s60leaser (Mar 03, 2008 1:22 pm) I switched to Geico several months ago from Safeco. The change is saving me around $200/yr for the same coverage. Safeco had been saving me $600/yr from my old company State Farm. I haven't had to deal with anyone at Geico except for the sales people, so I couldn't say how well their claims process is. Geico does not offer GAP insurance, which Safeco did. My loan balance is below the KBB value of the car now so that's not a problem.
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Replying to: tedebear (Mar 03, 2008 3:24 pm) |
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Hoping somebody can help me on this. I have a leased vehicle (Lexus). A few years ago my wife got into a bad accident. The vehicle was taken in to be fixed and it took quite some time. The fixing of the vehicle was done in stages. At the last stage of fixing the vehicle it was determined that the vehicle was totaled but completely rebuilt and given back to us. Allstate made this determination/decision at the beginning. I have 12 months remaining on the lease. The car has a lot of problems with little things (windows not working, CD not playing). I know that this vehicle is a SALVAGE TITLE and I have to turn it back in. At the beginning, I negotiated a good lease and the residual value would have been very good. My question is will GAP Insurance protect me when I go to turn this vehicle in or am I'm screwed. I want to turn this vehicle in and walk away. I reside in California. Any input, I would be grateful! Thanks in advance.
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Replying to: smartin5 (Apr 08, 2008 10:58 am) Since you still have your car, GAP doesn't come into play. A Salvage title is only issued whent he car is totaled AND the bank is payed off. Since you are still in your lease, a salvage title cannot be issued. Sounds to me like the damage was enough to total the car, but for whatever reason, your ins co decided to repair it anyway. Sometimes, other damage is discovered during the repair process that increases the total repair cost. Even if Allstate wanted to total it, the would still have had to pay off the car( GAP amount not withstanding) AND pay the bodyshop for whatever work they performed. They probably decided it was cheaper just to fix the car. |
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so these thoughts are purely speculative... Normally the main penalty on a lease is the odometer, where you drive more miles than the lease allowed...you also have to turn in the car in good condition, or they can penalize you for dents, paint scratches, chipped glass, etc. You are turning in a car that has supposedly had its problems fixed...maybe not the way you and I would think of it, but fixed nonetheless...after all, if you turned the car in with visible damage, THEY would have charged you for the repairs, but, instead, the "repairs" were paid by Allstate... There may be a slim possibility that you may not be penalized at all, since the car has been restored pursuant to another "authority" in the name of Allstate...I wish you luck with this... Also, read your lease agreement, as it may have a specific paragraph that discusses this very issue and how they handle it...while I have not had any experience with this, I am quite sure that the leasing company has... Let us know your outcome...I would be happy to learn from your experience...
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Replying to: marsha7 (Apr 08, 2008 7:20 pm) They can't penalize you if you just have a glitchy car. As long as you have made an effort to keep it up. |
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Replying to: kirstie_h (Apr 09, 2008 5:22 am) |
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