Insurance shortfall after car theft!!

Hi guys.

We were the very unfortunate victims of car theft 3 weeks ago when two guys fished our keys and stole our 6month old


Our insurance company has since written the car off and offered us a market value settlement!! However this market value sellemt falls way short of what we owe the finance


My understanding was as the car is under a year old our insurance would have replaced the car with a new one. In fact even this website has an article claiming this. Unfortunately reading my t&c’s the insurer stated ‘market value at time of loss’.

Has this happened to anyone here? Or has anyone successfully argued their case and won?

I know I know I should have had gap insurance but from what I’ve been told from multiple sources is that gap insurance doesnt come into effect until after 12

Months, so your not over insured.

Any advice welcome



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