Gap insurance

wotherspoon

Does anyone have any experience or useful advice regarding Gap insurance? I am about to buy a new car and the garage is trying to sell me Gap insurance at a premium of £400.
I can probably get this a whole lot cheaper on the web but do I really need it?
Thank you!
Carol

DCFC79

Just buy a policy from a broker or an insurance firm. Whats the car ?

System

The online companies will be much cheaper than the dealer offer for GAP insurance.

There are different types of GAP insurance policy, make sure you get the best type for your circumstances. (Return to Invoice, Return to Value, etc.)

I have taken out a GAP policy ( RTI ) with Click2protect but there are many other similar companies, shop around - Use the comparison sites.

If your car is brand new, then during the first 12 months, many normal motor insurance policies would simply replace the car if it was a total loss, so GAP is not needed during the 1st year, and GAP policy premiums will take this into account.

After the 1st 12 months, your normal policy will only pay market value after a total loss claim, will you want to find £X,XXX to replace the car for a similar age / spec in those circumstances ?

So, if you are going to keep the car for more than 12 months, and you want peace of mind, then a GAP policy is worthwhile, but only you can decide if the costs are justified.