2018 - BMW 520D MSport Plus - GAP - Vehicle Replacement Insurance

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Fri 18 Jun 2021 14:46
2018 - BMW 520D MSport Plus - GAP - Vehicle Replacement Insurance - Tedlad123

Hi all, long story short - car written off by LV after a HGV went into the back of me, admitted liability etc. LV have offered a settlement figure to pay off the PCP plus some cash to me due to the car value and amount outstanding and Car Care Plan are topping up as part of the Vehicle Replacement Insurance.

Car Care Plan have received all of my documents - new vehicle order form, vehicle invoice, LV settlement amount and my PCP settlement figures.

It will take a massive 15 days for them to work out the figures, having read the terms and conditions for working out what they;ll pay out it will take me that long to interpret what it all means.

Is there a calculation that I can work out myself to give a rough idea, they WILL NOT give me any idea what payment is likely to be and therefore it's proving difficult to guage what sort of value car I can go and buy?

Regards and Thanks for any info or experience!!

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Fri 18 Jun 2021 14:56
2018 - BMW 520D MSport Plus - GAP - Vehicle Replacement Insurance - daveyjp

Unfortunately you are now piggy in the middle and can only sit and wait.

A few years ago a colleague had a nightmare when the insurance and GAP insurance companies failed to agree the valuations.

They were disagreeing over about £500. He offered to pay it as while they argued he didn't have a car. He hired a car for a week, thinking that would be enough, but he ended up buying a car for a few hundred quid to tide him over as he had no idea how long it would take.

I remember it took months.

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Fri 18 Jun 2021 18:36
2018 - BMW 520D MSport Plus - GAP - Vehicle Replacement Insurance - Tedlad123

Yeah same here, according Car Care Plan it is undervalued by £1K by LV, its in Car Care Plan's interest to have a higher valuation and then they're liable for a lesser payment.

I'm currently 'loaned' a new E Class Mercedes on the 3rd parties insurance so have to wait the 15 days...........to which they are using to the maximum!!!!!

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