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Author Topic: GAP insurance  (Read 11491 times)

Offline p3asa

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GAP insurance
« on: 05 November 2009, 12:33 »
GAP insurance, has most folk got it?
Autotrader are doing it for £129 for £10k so I'm tempted.
You reckon it is the done thing to do?

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Offline keelaw

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Re: GAP insurance
« Reply #1 on: 05 November 2009, 13:09 »

I have it. When buying new depn in first 3 yrs is horrific. So in extreme case of car being written off this top up is defo worth it.

I have 15k cover iirc for about 190 quid which lasts 3yrs. I also went through autotrader so curious what your 129 quote covers (period and back to invoice?)

Anyway, defo required and is reasonably cheap.




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Offline matchboy

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Re: GAP insurance
« Reply #2 on: 05 November 2009, 13:32 »
yup defo worth it, i have 20k cover.  its a must as you never know.
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Offline AlanH

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Re: GAP insurance
« Reply #3 on: 05 November 2009, 13:33 »
Worth having. On collection day I went along with a couple of online quotes for GAP and the dealer matched them as they still get their commission for the sale!
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Offline Neil gti

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Re: GAP insurance
« Reply #4 on: 05 November 2009, 17:38 »
Yes return to invoice Gap Insurance is a must for me,
1st new car i bought was a mk5 gti for 26k 18mnths later got wrote off in the floods, insurance co paid 18.5k for the car and gap insurance paid out another 7.5k so got a new R32 happy days, 18mths free motoring and a new R32  :laugh: :laugh:
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Offline Masher

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Re: GAP insurance
« Reply #5 on: 05 November 2009, 19:21 »
I did the same as AlanH, took some quotes to the dealer and they dropped from 300 to 199. I noticed that some policies don't cover if the your keys are stolen, i.e. a crook nicks your keys then trashes your car so best to check.
Definitely worth having though I reckon.
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Offline p3eps

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Re: GAP insurance
« Reply #6 on: 05 November 2009, 20:24 »
Definately worth £300 or so in my opinion.

I bought my Ed30 for £23000ish, had it for about 20 months in IMMACULATE condition with only 9000 on the clock - and some w@nkstain ran into the back of me.  Insurance company are only willing to pay back 'market value' which was £16325 - which I eventually got upped to £16855.
If I had GAP, they'd have given me a cheque for the difference straight away - instead of me fighting with the insurance company for the last 8 months!

GAP is a must for me this time!
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Offline p3asa

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Re: GAP insurance
« Reply #7 on: 05 November 2009, 23:09 »
Thanks guys.
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Offline gibby

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Re: GAP insurance
« Reply #8 on: 06 November 2009, 09:28 »
I've recently looked into this as we've just bought a brand new 1 series BMW :lipsrsealed: and I found the best site was this one and looked good prices https://www.directgap.co.uk/ The dealer wanted £499 ! :shocked:

Just a thought, why do people get cover for as high as 15k ? (Unless you've highly specced cars that will depreciate loads). Surely its "GAP" insurance, so if the insurance company will only give you 15k but you say owe 20k on the never never then you only need 5k of insurance to cover the difference ? Anyone got experience of how this works and what's the best amount of cover to get ?
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Offline Snoopy

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Re: GAP insurance
« Reply #9 on: 06 November 2009, 12:03 »
^thanks for the link.  :smiley: As this is something im looking into at the moment myself.  :nerd:
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