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Old 05-29-2015, 04:27 PM   #1
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Gap coverage and Replacement coverage together

I recently purchased a new 2015 Flagstaff 25ks about 11k under MSRP. Going through the loan process, it was recommended that I buy the extended warranty and GAP coverage. I did. Now when I called GEICO, my insurance agent, I found That I could buy a replacement coverage which would replace the TT for the MSRP for the 1st 5yrs and then go to purchase price to the 8th year, then ACV. I should be way under the loan value on the 6th year.

My question is... With carrying replacement coverage, Do I really need the 800.00 spent for GAP too?
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Old 05-29-2015, 04:30 PM   #2
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Of course the dealer is going to tell you theirs is best and will cover more but I think they all are about the same. I also put GAP on our new RV hoping I never have to use it like most insurances we take out.
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Old 06-04-2015, 12:42 PM   #3
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Quote:
Originally Posted by ChicaChuy2 View Post
I recently purchased a new 2015 Flagstaff 25ks about 11k under MSRP. Going through the loan process, it was recommended that I buy the extended warranty and GAP coverage. I did. Now when I called GEICO, my insurance agent, I found That I could buy a replacement coverage which would replace the TT for the MSRP for the 1st 5yrs and then go to purchase price to the 8th year, then ACV. I should be way under the loan value on the 6th year.

My question is... With carrying replacement coverage, Do I really need the 800.00 spent for GAP too?
Depends on how much the replacement coverage costs and who determines the value of the trailer after the 5th year.

At least with GAP coverage you know your loan will be paid off no matter what the value of the trailer is figured to be.

You say you SHOULD be under the loan value but what you think the trailer is worth and what the insurance company says it's worth may be two different numbers.
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