Mazda Dealers are offering a product called Invoice Gap through Mazda Credit.
I quote "In the unfortunate event that your car is written-off or stolen and declared a total loss, your insurance company may not pay out the original purchase price. This is because many comprehensive motor insurers make a total loss payment based on the market value of the car at the time of the accident or theft"
Invoice GAP will cover the "gap" between the original invoice price and the insurance payout!
Its only £399.00 for 3 years cover.
I've just bought it for when my 8 comes!
Its a small price to pay for peace of mind should you be unlucky.

Stay Lucky MMjnr

hmm. Why would you expect new car price from your insurer after 3 years ow ownership?

Most fully comp policies have a new for old clause that gives you a new car if writen off in the first 6 months or so, check yours.

Insurance companies never offer a fair market value for the car first time round. All you do is go look at some similar prices for that car/age , show these to the insurance company and haggle - should sort that out.

£400 more for mazda if you sign up tho..

A business advisor for Clydesdale Bank has told me he can provide the same gap insurance for £99.00.

Sorry to be the bearer of bad news and all that.

The chap cited an example of someone who got a quote from BMW financial services for a BMW M3 and the gap protection cover was £780.00. His was....guess....wait for it....£99.00

So if I do decide to take out this insurance then I aint paying £300+.

After all the GAP insurance only provides cover for the difference between the market value of the car and the outstanding finance when the loss occurs - no more than that.
Not the difference between the market value and new list price.
The salesmen are particularly "fudgy" with the exact details when selling you this as they get really good commission on it.

Specman, Mazda's Invoice gap covers you for the difference between your insurance companies payout and the invoice value of the car.
E.g= insurance payout £15000.00
invoice price £25000.00
mazda's gap insurance pays out £10000.00.
It does cover you up to the invoice value of the car.
What your'e refering to in a finance gap and not an invoice gap.

MMjnr

Originally posted by mazdamanjnr
Specman, Mazda's Invoice gap covers you for the difference between your insurance companies payout and the invoice value of the car.
E.g= insurance payout £15000.00
invoice price £25000.00
mazda's gap insurance pays out £10000.00.
It does cover you up to the invoice value of the car.
What your'e refering to in a finance gap and not an invoice gap.

MMjnr

Yes, I have the brouchure and they offer both invoice gap and finance gap.

Of course which ever one you go for, try not to write off your car in the first year, as the demand means you'd be waiting a long time for another RX8.

Cheers
---Dave

MMjnr is right there are two types of GAP insurance which causes much confusion if the market place. Specman is right though that you should be able to shop around and find independant GAP insurance (both types) at a fraction of Manufacturers charges.

I never knew there were two types.
Just goes to show how much attention I have paid to this topic.