GAP insurance question

[ben_leah]

I would recommend GAP insurance to any buying a new car, I had an accident 6 months after starting the lease on my brand new Leon FR , the other guy claimed complete liability for the accident but it still left me with a GAP of £1300 to cover the cost of my lease!

 

[Bainie]

I also had it thrown in with the car, my final bargaining point to seal the deal !! The policy said £349 on it for 3 years which is as long as I will be keeping it anyway, (If it makes it that long !! ) ...

 

[julia v]

I had never heard of Gap Insurance until I ordered my new car a few weeks ago and the dealer mentioned it and gave me a quote for around £350.
I came home and had a look online to find out more about it, I will definitely go ahead with the "return to invoice" cover, but as others have said it definitely pays to shop around and there are much better deals online saving you a couple of hundred quid at least which is always a good thing!

 

[DaveP]

My brother took out GAP with his new XC90 - when he got it nicked and burnt out they did everything possible NOT to pay out - they did - but they tried not to. Read the small print VERY carefully and adhere to what you are supposed to do (things like not accepting a replacement car from your current insurers - or something like that).

 

[2zeroalpha]

It's like most deals offered as part of another purchase (like income protection sold with mortgages and other loans). Always shop around, a third party can usually do a lot better for you.

 

[Rampage]

Or get them to chuck something in free if you buy GAP, you can always cancel it when you get home.

 

[Mr Cellotape]

Why not try haggling with your dealer in the first place?

When I bought my car new I managed to get the GAP insurance for £150 from the dealer.

 

[GREY 225]

My brother took out GAP with his new XC90 - when he got it nicked and burnt out they did everything possible NOT to pay out - they did - but they tried not to. Read the small print VERY carefully and adhere to what you are supposed to do (things like not accepting a replacement car from your current insurers - or something like that).

Very true,also worth mentioning about modifying the car,dont think GAP will cover it if its been modified in any way.They like most insurance policies are keen to take your money but look at any way they can to get out of paying out.

 

[Ami-Jane]

thought it was best to revive this thread rather than create a new one.

Want to get gap insurance for my new car - got a quote from surf and protect for £163.28
which 3 Year Cover £10,000 Limit for RTI insurance and £213.02 3 Year Cover £10,000 Limit for VRI. Both are underwritten by Fortis.

Just wondering if it's worth getting the VRI or just stick with the RTI?

also what's the situation with mods with these gap insurances??

 

[lesinge2k]

gap insurance is a total waste of money imho...

you buy a car then write it off 6 months later, so the insurance company give you the market value of a 6 month car... so go buy a 6 month old car with the money... why do you need to replace your 6 month old car with a brand new one?

I got offered gap insurance on my 2 year old cupra... I just raised my eyebrow at the salesman...

 

[owen lcr]

bahahaha, you just explained exactly why you would want a brand new car rather than a 6 month old one. It still works with a 3 year car. so basically would you cant £12000 to go and get a replacement car or £20000 with gap insurance to go and get a replacement car

 

[lesinge2k]

bahahaha, you just explained exactly why you would want a brand new car rather than a 6 month old one. It still works with a 3 year car. so basically would you cant £12000 to go and get a replacement car or £20000 with gap insurance to go and get a replacement car

I'd replace it with a car of equal age... I wouldn't see any need to replace it with a brand new one

It's just another way for insurance company's to cream money from us...

 

[Ami-Jane]

I just want piece of mind - and for the sake of a couple of hundred quid I think that's worth it.

Just don't want to get it - mod the car - then be told because I've done that the gap insurance isn't valid!

 

[Cupra R]

I just want piece of mind - and for the sake of a couple of hundred quid I think that's worth it.

Just don't want to get it - mod the car - then be told because I've done that the gap insurance isn't valid!

Ami, check with your insurer, but most insurer's would replace a new car with a new car up until it exeed's twelve month's old.

Any chance of a defered GAP insurance to make it a little cheaper haha.

For what it's worth I took it out 3 yrs ago when I got my car new, willing and hoping it would not be needed lol

 

[saintelise]

If my car got nicked, IMO I would like to order a new one not some dodgy second hand one that's had it's nuts ragged off.

I've got GAP on my Cupra also had it on a BM coupe I owned about 10 years ago.

 

[owen lcr]

i can understand where you are coming from at all.....

if you wrote off your car and i said you, " do you want a brand spanking new one of one that is 3 years old with 3000o miles on it" you would chose the 2nd hand one.

i think you must be the only person on earth to do this imho

 

[robin cur]

Gap insurance for me all the way, my wife wrote here car off a few years ago it was about 18 months old we never got enough money back to pay of the HP, ended up no car and £2000 still owing. You will never get enough money of your insurance company to replace a car like for like, you will only get trade money then you have to find a car at trade not that easy.

http://www.car2cover.co.uk/?_kk=a7e...t=3002331183&gclid=CNHZ6cz_96ECFSEulAodXgWcEA

I use this company and its transferable if you change your car. only cost £120 for three years
just looked the the web site and it has gone up a lot so shop around

 

[2zeroalpha]

Couldn't agree more. When my first k1 got stolen it was the first time I hadn't taken out GAP because Iwasn't doing much mileage and never thought I'd write off the car. Never even thought about theft!

Lost a 21k car and got 17.6 pay out after 18 months and that was lucky because k1s were holding their value. Get GAP, plain and simple.

 

[lesinge2k]

i can understand where you are coming from at all.....

if you wrote off your car and i said you, " do you want a brand spanking new one of one that is 3 years old with 3000o miles on it" you would chose the 2nd hand one.

i think you must be the only person on earth to do this imho

If offered it for free I would take it, but the point is that you have to pay to have this option...

Anyway, from reading the threads on here getting a new car brings no end of problems, whereas when I got my second hand car, the previous owner had been through all of those issues, so that I could get on and enjoy the car

You also have to run a new car in before you can rag it, whereas second hand it's already been run in...

 

[2zeroalpha]

But if you've bought gap you get an extra few year's ownership for a very small sum. My gap is £170 for 10k payout on my car. If my car is a total loss at the end of next year I will get a payout which is 4-6k below purchase price. Gap will cover that for a real pittance (170 quid vs 4-6k) it is an absolute no brainer.

As for running in a car, that only takes a a few hundred miles and you have no idea how your second hand car has been treated. As for sorting out new car problems, that's what your warranty is for, you also get extra years "in warranty" by getiing a newer car.