Decision, GAP Insurance Or Not?

[Brenbo]

I will be picking up my new Golf R on Wednesday 22/09/16 all going well.  I do not usually get GAP Insurance as I have always felt it was an extra unnecessary expense the Dealer tries to get out of you.  However after talking to the dealer about GAP insurance more indepth on Friday when I went in to pay for my car.  I am now undecided as to whether it may be a good thing to have?  So before I go in on Wednesday to pick up the car I thought I would ask you guys whether you have GAP insurance or not, and why you decided to have GAP Insurance or not? 

[mcmaddy]

If you are getting it free with your car then take it but if not you can get better deals from the likes of Ala and gap123 (I think that's the name).

[Brenbo]

So you would suggest to get GAP Insurance, but just shop around for the best deal?

[SRGTD]

Don't buy from the dealer as their commission mark-up that's hidden in the price they quote you will make it much more expensive than you could get if you shop around.

Also, make sure the cover is 'vehicle replacement plus' and not 'return to invoice'.

[Mark V GTD]

Do not buy it from the dealer!!! - it can be as much as five times the cost of going to ALA or Gap 123.

Just get a quote on line for 'new car replacement' - will not be much more than a hundred quid....

[monkeyhanger]

What's the likelihood of a £30k variant of a car that starts at £18k being written off in an accident you can walk away from? Not very high. What's the chances of it being stolen and not recovered? Again not very high unless you like in and around Coventrt/Birmingham.

I got it for the £114 it ended up costing on the R.

[vidman2]

I would not be without it on a pricey car, NEVER buy fro the dealer as above their commission put the price up massively.

I bought mine for my R from GapInsurance.co.uk for £128.38p for 3 years £20k cover with a deferred start for a year as my ins co gives full car replacement on new cars for the first year (this was through a Forum sponsor on the Briskoda Forum so includes a 5% discount).  So I effectively have 4 years cover for the full cost of the car.  No dealer will/can offer to match that.

[SRGTD]

ALA offer a price match where they'll match a competitors price and then undercut it by 20% of the price difference. Worth also checking for discount codes for GAP cover. VP10 was (and may still be) a valid code for 10% discount off the normal ALA price.

[cosmos]

Worth noting that some insurance companies will pay out fully if a car is written off in the first 12 months on a normal policy.

I'm waiting until my first year is up before getting gap insurance as my current policy covers write offs for the time being. You get 365 days from delivery of a new car to take out gap insurance with most companies so you don't necessarily need to rush into it.

[Watts]

In the scheme of things the small cost is worth it for peace of mind.