GAP Insurance

[LeeT91]

Has anyone taken out GAP on their new car and is it actually worth it? I'm on a PCP deal when it turns up in the next week or so so I guess just for that reason it may be worthwhile.. Can anyone recommend a cheap provider?

Thanks

 

[l4oth]

I have used ala before, good cover and not too expensive.
https://www.ala.co.uk/

 

[ayrshiredude]

I believe that most insurance cover will give you a new car if it is written off within the first year.

 

[Scrogg]

I believe that most insurance cover will give you a new car if it is written off within the first year.

First year, yes. Second year? Third year? No.

Is GAP insurance "worth it"? Not if you don't make a claim. But using that logic car insurance isn't "worth it" either, nor is buildings and contents insurance on your home, or gadget insurance on your smart phone or tablet or laptop etc, etc, etc...

The simplest question anyone considering GAP needs to ask themselves is would you rather have it and not need it, or need it and not have it?

 

[RUM4MO]

I always considered that the GAP insurance is really only aimed at people that bought a new car at "full price" and who did not have insurance cover that included "new for old" over the first year of that car's life. For anyone buying GAP and thinking that it will cover what the insurer will pay out for total loss and the cost to replace that car after the car is over 12 months old, I'd expect that they will be in for a big surprise.

 

[Scrogg]

For anyone buying GAP and thinking that it will cover what the insurer will pay out for total loss and the cost to replace that car after the car is over 12 months old, I'd expect that they will be in for a big surprise.

Except they won't be, as that is exactly what it does...

Thankfully, there is more accurate information available than the opinions of people on forums that have no idea what they are talking about.

 

[camelspyyder]

The main thing to know is that shopping around for GAP can save £100s off the dealer price for it.

 

[Rokki21]

Think mine was £180 for 1.5 Evo for 4 years on ‘return to invoice’ at Direct Gap. Was quoted £399 at dealer.

Never had to use gap insurance before, but for that price I think it’s a sensible insurance if the worst was to happen especially in later years when depreciation has fully kicked in. Wouldn’t want a lesser value especially since I’ve read that insurers don’t fully consider options on the vehicle when coming up with settlement value.

 

[Peter]

First year, yes. Second year? Third year? No.

Is GAP insurance "worth it"? Not if you don't make a claim. But using that logic car insurance isn't "worth it" either, nor is buildings and contents insurance on your home, or gadget insurance on your smart phone or tablet or laptop etc, etc, etc...

The simplest question anyone considering GAP needs to ask themselves is would you rather have it and not need it, or need it and not have it?

I’d disagree it’s needed in year 1 - pretty much all insurers replace new for old if the damage is too high.

Ours was insured by LV, and written off at 9 weeks old. I’d taken out the SEAT finance for the £1,500 deposit contribution, but settled after a month. LV offered to source a new car, but came back and said it was going to take 22 weeks and would I just like the money. I sent them a copy of the invoice, and they paid me the invoice price. So I was £1,500 up on the deal

 

[DAN@ADRIAN FLUX]

Hi,
Just to let you know that we offer a product called Total Loss Protection. Whilst it's not exactly the same as your traditional GAP insurance we feel for some customers it can make a cost effective alternative.
Regards,
Dan.

 

[Woksin]

Paid 150 for mine for a 1.5 evo

 

[RUM4MO]

Except they won't be, as that is exactly what it does...

Thankfully, there is more accurate information available than the opinions of people on forums that have no idea what they are talking about.

And in general, that is you that is?

 

[LeeT91]

Paid 150 for mine for a 1.5 evo

Seems very cheap compared to what I can find? I’m looking at £230ish.. who did you got wit and what options.

 

[Scrogg]

And in general, that is you that is?

Compared to the ill-informed waffle you posted in this thread, yes. But I was referring to more general information available online from official sources rather than forums.