AXA New GAP policy

BrookieD

I just got a very strange call about a new AXA GAP policy.
This is an extra 250 a year that covers the shortfall of the insurance payout and the real value of the car should it be written off.

Has anybody else with AXA got this call.... Seemed very dodgy to me as yer one was dying to get me credit card out then and there? also asking if i was happy to pay over the phone or go to a bank?

strange

XJR

BrookieD wrote:

I just got a very strange call about a new AXA GAP policy.

This is a new policy from AXA and yes it's legitimate

BrookieD wrote:

Seemed very dodgy to me as yer one was dying to get me credit card out then and there?

Strikes me that the sales person was ever so slightly over eager, if you've any doubt why not call them and find out?

Guy:Incognito

So they charge you more to cover the cost of the car they already have insured? Who decides what the car is actually worth Vs their valuation?

endplate

Do you have a AXA policy? if so were they able to tell you sensitive information about your policy. It sounds like a scam to me. I find it unusual that they would ask for your credit card details. If they were genuine they would send you the details by post and leave it up to you to pay for it whatever way you want

BrookieD

i gave AXA a call and was told that they had a team cold selling this new product.
I think it may have been a new sales girl and she was over eager and nervous.

Still i dont think i will pay 250 a year for three years to cover my car. I had it once before on a nissan primera and it just felt like good money after bad TBH.

AS posted before who decides the value and i have already paid for my insurance

louie

it sounds dodgy to me as well. They would communicate with the customers by letter rather than phone calls? Was the number private by anychance ( i hate those numbers)?

deRanged

I got a letter about this a few months ago.

edit - just found the original letter, dated June '06.

"GAP stands for Guaranteed Asset Protection. It provides you with extra financial protection if your car is stolen or is involved in an accident and is a write off. Essentially it tops up your insurance payment.
...
There are two types of GAP cover available to you depending on your circumstances. New for Old covers cars that are 18 months old or less and Original Invoice covers cars that are between 19 months and 3 years old inclusive."

the last paragraph says they may call to discuss the product.

mloc123

lol, so insurance we pay as standard doesn't cover the 'true value' of the car. I know this has always been the case, most insurance valuations are lower than what they should be, but they aren't evening pretending thats what its actually worth anymore?

Darragh29

Whats stopping some chancer from just ringing up any person and pretending to be from Axa and trying to get your credit card number and take whatever they want off it??? Axa are one of the largest insurance companies in the country, so someone pulling a scam could reasonably expect to find someone with an Axa motor insurance policy by randomly calling numbers until they came across an Axa policyholder and talking them into giving their credit card details and then cleaning out all the credit on the card! I think this is very irresponsible of Axa, then and again, it is one of the insurance companies that has been literally sodomising young people in recent years with crazy and unaffordable premiums...

ryaner77

of course insurance companies offer you the "true value " of your car. If your car is a write off you are guaranteed the current market value .
for example, if AXA give you a pre accident value for your car that you are not happy with they also give you the option of replacing your car with another fully guarantted one as close to your original as possible.
Gap cover works in a very simple way
you buy an 07 car in january for €35,000, you crash it in january 09 and it's a write off, you get the current market value for your car under your normal insurance policy which would be €25000 then the gap policy pays you another €10000.
you pay more you get more back !!

Simple

XJR

Darragh29 wrote:

it is one of the insurance companies that has been literally sodomising young people in recent years

Whatever you think of insurance companies and Axa in particular I would be curious to know how an insurance company could literally sodomise anyone ! That's either one small *insurance* company or one big . . .