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| Muddybigdog Member Since: 11 Apr 2014 Location: Suffolk Posts: 992   
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As most of the existing posts on GAP insurance are a few years ago, any thoughts if worth it, especially in light of the thieving scumbags out there? Jumped ship to reliability - Mitsubishi L200
Puma 90 XS - Sold D3 - 2.7 S x2 (both Sold) Freelander 2 HSE - Sold Freelander 1 - Sold Disco 2 - Sold |
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26th Aug 2014 6:56pm |
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| K9F Member Since: 12 Nov 2009 Location: Bournemouth Posts: 9610 
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My daughter has just purchased a new car. For £300 she purchased a three year policy that would ensure in the event of a write off she would get the original purchase price of the car back. Considering she had just written one off it is a 'no brainer.' If you go through life with your head in the sand....all people will see is an ar5e!!
Treat every day as if it is your last....one day you will be right!! |
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26th Aug 2014 7:05pm |
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932 
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It all depends on your risk appetite.
If you are risk averse then it is a very low cost product for peace of mind . If you are happy with taking a chance then it is a waste of a few hundred pound that could be spent elsewhere. The reason it is a relatively cheap product is the fact it is statistically rarely called upon , if you are that statistic it is money well spent. |
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26th Aug 2014 7:37pm |
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)| Green Machine Member Since: 19 Nov 2010 Location: North Yorkshire Posts: 1226 
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Sorry Pete - just a minor correction having been through this whole rigmarole very recently on a new Audi - 'Return to Invoice GAP' is exactly that - it takes you back to the original invoice price (£60,000 in your example). 'Replacement GAP' is the one that replaces the car, even if the cost of the replacement car is now higher than the price you originally paid for your car.
WHATEVER you do - don't by GAP insurance through a main dealer! They load it with their own little bonuses and the price is ridiculous compared to what it would be through an independent broker. Audi quoted me £700 for GAP insurance on my new A4, I got it from Frank Pickles (after reading various reviews online) for around £160 IIRC. And the Frank Pickles product was actually better in the small print than the Audi product. For £160 on a £34k car it was a complete no brainer for me! 2005 Td5 | 90 Station Wagon | Tonga Green |
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26th Aug 2014 8:03pm |
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| GUM97 Member Since: 05 Feb 2012 Location: Cheshire Posts: 3555 
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Oops, thanks Tris! That's the one I meant!
  An engine to TDi for!
"Land Rover- Proudly turning drivers into mechanics since 1948"  |
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26th Aug 2014 8:33pm |
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| walfy Member Since: 29 Aug 2007 Location: Frome Posts: 2642 
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If you buy a new LR and insure through NFU, you get 2 yrs GAP for free. 110 D250 SE HT
110 USW SOLD RRE HSE Dynamic Gone, wife killed it VOLVO XC60 R Dynamic with some toys Polaris RZR 900XP SOLD |
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26th Aug 2014 8:37pm |
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| adamatdraycott Member Since: 11 Nov 2013 Location: Midlands Posts: 299 
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I bought today through Frank Pickles... The car is 180days old today, which happens to be the limit.
£132 to cover upto 10k difference is a no brainer... i also delayed the start date until 1st March 2015 because my insurance covers me for the first 12months Anybody purchasing should make sure they check each option... because i found the 10k limit to be cheaper than 7.5k by about £20. Anymore than 3years cover gets a little more expensive I just wonder how long it will be before lots of 3 year old cars are intentionally burnt out before the GAP insurance expires to reclaim the full value! |
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28th Aug 2014 9:29pm |
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| couplands Member Since: 31 Aug 2011 Location: Peak District & Cornwall Posts: 1826 
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Exactly what I did...
Cheers Simon |
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28th Aug 2014 11:21pm |
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