What GAP insurance company did you go with?

[Snoopy]

RickS, I understand what you meen.
But what if you don't want to sell the car in a years time, or 2 years or 3 or 4 years. The extra cost to my pocket of having to replace the car if its wrote off is an expense i don't want.
Yes i could buy secondhand replacment (be luckie if insurance company gives you enough to buy an equivelent secondhand anyway (been there had to do this) but i will keep it simple and ignore this fact for now).
With secondhand you don't know how that cars been treated. It could have a hidden past, it could like alot of them on here be owned by someone who does not know what a dipstick is or how to use it. Driven by a boyracer and thrashed tobits. etc etc. For £50 a year i get the peace of mind until my car is 4.5 years old.(i took it out late so 4.5 instead of 4)
Back to the value thing, insurance companys in my time and involvment have never offered what a used cars going for at private level never mind dealer level. It took me 6 months to settle with a car i had wrote off and they still did not give me enough to cover the cost of a replacment even after about 100 letters and copies of adverts etc etc. I drove an old banger for 2 years during and after that till i saved enough to be able to buy something newer again and this has happened to me more than once.
The thing will GAP is your insurance company makes an offer and the GAP people then cover the difference, non of this 6 months of hassle trying to get more out of them. That to me is worth £50 a year.

[gibby]

GAP insurance is an insurance for people who have finance on a car. Example, brand new car costs you 25k, you pay for it monthly, in 18 months time you write it off, at this point it's only worth 18k. Insurance only give you 18k to replace your car but you still have outstanding finance of say 22k. So, you have to buy a car worth 18k that you actually owe 22k on. Yes, the car you owe 22k on is now only worth 18k, but for the sake of £200 or so over three years, you may as well get a new car if the worse happens, or a car that's worth what you owe on finance.  

As with most insurance, it's a gamble, if you don't need it it's a waste of time, but if you do, it isn't.

[Snoopy]

Its not just for finance anymore. Thats why they intoroduced back to invoice and replacment GAP.

[gibby]

Fair point. But you catch my drift.

Personally, whenever buying a new car I would get GAP insurance. Seems silly not to in my opinion, but each to their own.    

[p3asa]

Wasn't there someone on here who was in their 3rd year of ownership when their MKV GTI was written off?
They got the full price back for their car and bought a MKVI.
That would certainly be worth the GAP payment.

[Snoopy]

Wasn't there someone on here who was in their 3rd year of ownership when their MKV GTI was written off?
They got the full price back for their car and bought a MKVI.
That would certainly be worth the GAP payment.

Maybe was this one as its the one i remember.

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 

[RickS]

Yes Snoops, you make some good points, and you could have convinced me; unfortunately it appears that you can only purchase GAP insurance if you have owned the vehicle for up to 180 days which leaves me out. [Only looked at 2 on the web but I bet they are all the same]
Also, a word of warning to all you "re-mappers" out there with GAP cover; they won't pay out if the vehicle has been modified in any way.

[WHITEY20]

Nice work Snoopy. This example makes it a must for me. Taking delivery in March so going shopping for GAP now.

Wasn't there someone on here who was in their 3rd year of ownership when their MKV GTI was written off?
They got the full price back for their car and bought a MKVI.
That would certainly be worth the GAP payment.

Maybe was this one as its the one i remember.

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 

[RedHP]

What GAP insurance company did you go with?

I think this has been asked many time before  :embarassed:  but

Im looking for back to invoice GAP.

The one which VW insisted on......the AA

[Neil gti]

Yes Snoops, you make some good points, and you could have convinced me; unfortunately it appears that you can only purchase GAP insurance if you have owned the vehicle for up to 180 days which leaves me out. [Only looked at 2 on the web but I bet they are all the same]
Also, a word of warning to all you "re-mappers" out there with GAP cover; they won't pay out if the vehicle has been modified in any way.

That was my mk5 that was written off and it was remapped, carbonio, milltek, reiger body kit,
Nobody ever questioned it ? maybe i was lucky?