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Hi

We were contact yesterday by Renault Finance and they asked us if we would be interested in Return to invoice insurance. This is were if Zoe were to be a total loss after a accident or stolen(?), this insurance would cover all costs to pay back the PCP and outstanding finance of the car.
Has or does anyone else have this type of insurance, this is the first car we have had on a PCP.
The quote was for £419 paid over 12 months, but covers us for the 4 year PCP.

As anyone else taken out this type of policy?
 

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Check with your insurance company, some do this for the first year (sometimes more) by default anyway. Otherwise, shop around, places like GAP Insurance - 15 Second Quote From UK's Specialist Insurer. From £25 (don't take that as a recommendation, it's just one I've heard of before) will often offer good cover for less than the ones dealerships will sell you.
 

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I used ALA and will again this time when I pick up my New Zoe. It is about £90 for return to invoice plus as opposed to the dealer trying to sell it to you for £300+

Check your insurance as well. When I picked up my Juke I was with Tesco and there fully comp policies include a return to invoice payout in the event of a write off in the first year of ownership. Year 2 onward you would likely still have a negative equity in the event of a wrote off however so I would recommend GAP insurance for peace of mind.
 

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I got the same call offering gap for £335 IIRC for 3 years, only have the car on a 2 year deal. Quick bit of googling showed a lot of cheaper deals out there.
 

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In general you should be wary of all the dealer add-ons they propose – the mats, the seat fabric and paint protection treatments and all the insurances. The prices are heavily inflated and a large chunk of the margin goes to the sales person as additional commission.
 

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GAP insurance is worth having especially on a car that's on a finance arrangement such as a PCP.

Don't even think about buying it from the dealer though.
 

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I would say definitely worth having if you feel the replacement [market] value of the car is significantly deviated from the finance value. You might find yourself thousands of pounds out of pocket instantly if someone else writes your car off. But how likely is that? As above, shop around. Lots of deals, constantly changing.
 

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I need to get gap insurance before I pick up the Zoe. Looked at ALA insurance and they seem to have 2. I have a 2yr pcp so wasn't sure if I should pick the replacement car policy instead of invoice? Also what price do I put the car, do I need to include the government grant, Renault contribution and the battery? If I need to include battery then how much is that worth?
 

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That's interesting - really I think it should be for RRP for your model with the 5k PICQ grant which may no longer be available if you have to claim. And you must add the battery cost which is about £7200 from memory.
obviously if car was a total loss and you just paid off the finance(and battery) you would be quids in, but to replace car might cost much more ......... tricky one
I need to get gap insurance before I pick up the Zoe. Looked at ALA insurance and they seem to have 2. I have a 2yr pcp so wasn't sure if I should pick the replacement car policy instead of invoice? Also what price do I put the car, do I need to include the government grant, Renault contribution and the battery? If I need to include battery then how much is that worth?
 

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There are a number of companies having issues with the car + battery at the moment. ALA is one of them and they will not cover you completely for the car and battery.

Consider this...

You have 1 finance agreement for the car.
You have another finance agreement for the battery.

Your GAP insurance can be one of two things...

1. Return to invoice - your invoice does not include the battery.
2. Replacement car - they will not replace your Zoe Dynamique Intens with a Zoe i-Dynamique Intens (which means that won't buy you a battery).

Also consider that your insurance company will pay "Market Rate" for the car and battery as a single item. Your battery finance agreement includes depreciation at a rate far less than "Market Rate". Unless your GAP insurance guarantees to replace your car and your battery (by purchasing it outright) - you could be out of pocket.

I should add that the GAP policies sold by dealers alongside the Zoe, have this same problem. I raised this issue through my dealer and it has been escalated to Renault and the dealership do not currently offer a GAP policy alongside the Zoe until sorted.
 

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There is a lot of misinformation about the status of a rented battery.

Rented or not, it forms part of the car. Insurance (Gap or personal driver's insurance) covers the matter to return the situation to that before an accident. Therefore, a consumer can expect to receive a car and battery as they had prior to the insurance event, and if it is cash sufficient to pay off the battery and return them financially to the state they are in.

The issue is not in knowing what is or is not covered, it is that insurance companies and Renault/Nissan/RCI do not appear to have hyet figured out how to talk to each other about this.

An insurance company is in error if it claims the battery is not covered by their insurance. They either cover the car, for which the battery is a part, or they do not.
 

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There is a lot of misinformation about the status of a rented battery.

Rented or not, it forms part of the car. Insurance (Gap or personal driver's insurance) covers the matter to return the situation to that before an accident. Therefore, a consumer can expect to receive a car and battery as they had prior to the insurance event, and if it is cash sufficient to pay off the battery and return them financially to the state they are in.

The issue is not in knowing what is or is not covered, it is that insurance companies and Renault/Nissan/RCI do not appear to have hyet figured out how to talk to each other about this.

An insurance company is in error if it claims the battery is not covered by their insurance. They either cover the car, for which the battery is a part, or they do not.
I'd love to see an example of your claims in practice, as it would make my life a bit easier!

If your claims were true, then various GAP companies wouldn't be looking into EV specific policies, Renault wouldn't be looking into the suitability of GAP policies sold alongside Zoe's and I would have a GAP policy which covered me and my car..

Please do share those examples if you have them.
 

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In regards the anatomy of a write off and how a regular insurance company handles this - or rather failed to handle it correctly - you can go look on renaultze forum for an example.

In regards Gap insurance, I can tell you that the discussions I had with my Gap company on the Fluence meant that between us we set the coverage level specifically high enough to cover the battery price (it is listed in the rental agreement) and the finance on the car sans battery, on the understanding that if the insurance company did fail to pay for that component for any reason, the Gap would cover the difference of any claims against me.

I had no reason to claim on the Gap insurance (thank goodness) so cannot actually say what would have happened in the event of a claim, but Direct Line, with whom I had the insurance itself, had assured me the battery was covered by my insurance but that they would pay RCI who owned the battery, directly in the event of a valid claim.

I agree there are ambiguities here that the buyer must be beware of. In my case I received belt-and-braces assurances with both insurance companies that I would not be out of pocket under any circumstances. Anyone who gets a flex arrangement, I advise you do the same.
 

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Ok - there are no questions about regular car insurance. Mine is also insured with Direct Line and after speaking with the underwriters, it was declared that the battery is covered, but would be paid out at the same market rate as the car. (I think this will be fairly standard amongst car insurers.)

The issue then becomes the depreciation of the battery, as stipulated in the renatl agreement. 10% reduction in month 13, further 10% in month 25, further 10% in month 37 and so on and so forth. Clearly, if your car insurer pays market rate, you are not going to get the full value of the battery. (Again, I don't think there is any argument to this statement.)

The issue comes with GAP - as I outlined above.

Return to invoice does not pay for the battery, since the battery is not on your invoice.

Replacement car will give you a replacement car for sure, but leaving you with rental agreements on two separate batteries, with the first one still having some money outstanding for the reasons noted above.

Regardless of your conversations - I still think that if you had to claim you would have come up short. I am working with Renault and the GAP provider to come up with a contract based on facts written into the agreement, rather than the current situation. Who was your GAP policy with - maybe I can try them?
 

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I think i will check my insurance if its covers the battery if i had to make a claim. Yet i'm with Direct Line and from the information so far it looks like GAP - replacement car as if a write off does happen then the car is replaced as the extra discount from Renault around £5k and the government grant may not still be available if i had to claim which would leave me short if its back to invoice.

Hopefully my thinking is correct, but i have a few days left before purchasing GAP as I'm picking up the ZOE on Tuesday.

Still can't believe why its so confusing and especially Renault's cover doesn't seem quite right.
 

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Just to clarify, any insurance is to restore you to the condition you were in before the claim event. If they are offering a cash settlement rather than replace for you, and you do not believe the amount offered to you can restore you to that condition, you should request the insurance company obtains the replacement.

Gap insurance is additional insurance to put you in a better position than you were before the claim event, such as where there is a finance agreement in place which will not accept a replacement model in the event you choose to return it at the end of a PCP.

If there is a rented battery involved and you are somehow still being obliged to pay for it, then the insurance company patently had not replaced it.
 
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