Gap Insurance

fastcam

I Decided to look for gap insurance online as the dealer prices were extortinate. Has anyone got any advice who to take it out with.Apologies if it is in the wrong section

Shimrod

click4gap and ala are most commonly referenced on here. Do a search of the forum to find the relevant posts!

sassy_one

You will find the prices are high in most places!

eggbilly

I was looking at this too today, having told the dealer that I don't want it.

The online sites provide an instant quotation, but this figure is based on the amount you're insuring for. In my case, the new car's value is £30000 and I want to protect the value because I've got a PCP deal. Problem is that I'm not quite sure how much to insure for. I'm assuming that on a 3 year cover, I'll need to cover up to 50% of the cost of the car, assuming say, I write the car off somehow in year 2-3.

jackieverdier

I would suggest that you go on-line and type in Gap Insurance a number of companies will appear. Infact there are about 8- or 10.

Just shop around. Get a couple of quotes and make sure that the policy covers what you consider to be important.
Do you want it to simply pay off any finance ?
Do you want it to Return you back to invoice price?
Do you want it to buy you another car like for like?
You will be amazed at the differences in price for basically the same levels of cover.

Good luck and happy shopping

Shimrod

eggbilly wrote: »

I was looking at this too today, having told the dealer that I don't want it.

The online sites provide an instant quotation, but this figure is based on the amount you're insuring for. In my case, the new car's value is £30000 and I want to protect the value because I've got a PCP deal. Problem is that I'm not quite sure how much to insure for. I'm assuming that on a 3 year cover, I'll need to cover up to 50% of the cost of the car, assuming say, I write the car off somehow in year 2-3.

You need to cover the difference between what the car insurance will pay out and one of:
1) The amount to clear the finance
2) The amount to make up the total value of the invoice

The choice of 1 or 2 is yours. You need to take a bit of a guess as to how much the car will be worth in 3 years time.