Gap Insurance

[MarkHowells]

I have had my GTiPP for 9 months now and I am thinking about taking out GAP insurance.

When I purchased the car from the VW Main Dealer they offered GAP insurance at £500, but I knew that I could get it cheaper and also I knew that my fully comprehensive car insurance covered me for the first 12 months.

My question is how much insurance cover do I need? I paid £30k on a 4 year PCP but I intend to change the car as soon as the mk8 GTi or R becomes available to order. I guess it comes down to the market value against the amount owing, but I don't know how to calculate this or if it should be say £5k or £10k.

Has anyone taken out GAP insurance before their car is 12 months old or have any experience on ow to calculate how much cover is actually required.

Any help would be truly appreciated.

MarkH

[hog_hedge]

I went with ALA for four year cover up to £20k. I just guessed that my car wouldn’t be worth less than £10k after 4 years.

[Booth11]

Also went with ALA GAP (3 year Vehicle Replacement Plus policy with £20k cover).

There’s an ALA discount code - MSE25  25%off

[Jim_mk7.5]

This is who we use at work, might be worth an enquiry.

https://www.directgap.co.uk/

[MarkHowells]

Many thanks for your responses.

This has turned out to be quite interesting.

I got a quote from ALA for £20k cover over 3 years and it came to £358. I applied the MSE 25% discount code which brought it down to £266.50. This is for the Vehicle Replacement Plus cover.

I then got a quote from directgap for £20k cover over 3 years and it came to £229. This is for the Vehicle Replacement + cover which looks like it is the same policy as that offered by ALA.

I think that I will get some more quotes, but if you have any experiences or feedback please post them here.

MarkH

[Jim_mk7.5]

We've always found Direct GAP to be very competitive and its a proper run business, the owner is a car guy. 

[2007GTI]

Ive been using these guys for years, never had to make a claim

https://www.click4gap.co.uk

[SRGTD]

Many thanks for your responses.

This has turned out to be quite interesting.

I got a quote from ALA for £20k cover over 3 years and it came to £358. I applied the MSE 25% discount code which brought it down to £266.50. This is for the Vehicle Replacement Plus cover.

I then got a quote from directgap for £20k cover over 3 years and it came to £229. This is for the Vehicle Replacement + cover which looks like it is the same policy as that offered by ALA.

I think that I will get some more quotes, but if you have any experiences or feedback please post them here.

MarkH

ALA also have a price match guarantee, so they should match any cheaper on line quotes from other GAP insurers where the cover is on a like for like basis.

[Crunch]

I've been looking at whether I need gap insurance and I'm not too sure. Basically I will be buying a brand new gti performance next week and I will owe £20k on it so I don't think I will need it as they should pay out more than that?

[hog_hedge]

I've been looking at whether I need gap insurance and I'm not too sure. Basically I will be buying a brand new gti performance next week and I will owe £20k on it so I don't think I will need it as they should pay out more than that?

If you write your car off in 3 years time don’t you want a new one? I paid cash and still took out GAP because it’s a very little cost for a potentially very big gain.