First think I will be doing when my new car lands in buying return to invoice gap insurance. Its less than £400 for 4 years cover so a no brainer
Any reason why you’d go for Return to Invoice GAP and not Vehicle Replacement GAP?
Good point. I would go for vehicle replacement (VR) on a new car, which would put you back in a brand new car (if your car was written off or stolen) provided you bought it from new. That is, a car equivalent to the one stolen
on the day you purchased it. I think VR GAP it has to be purchased within a fairly limited period of buying the car, whereas return-to-invoice (RTI) GAP can be purchased up to about 8 years after purchase.
One other thing worth checking is your existing insurance, as many policies cover you for a brand new replacement if a new car is written off in the
first 12 months. I know this is standard for Norwich Union fully comp policies, and probably many others. As said though, you might only be able to take out vehicle replacement GAP up to a few months after new car purchase, so delaying until year 2 might just leave you with the RTI option. By the way, there are a few good companies selling GAP insurance. It is usually not a good idea to buy it at purchase time from the car dealer.
