GapInsurance 123

F1F93

Hi,

I'm picking up my new car at the weekend, and i'm looking at Gap Insurance.
Most prices have been around £150 ish for 3 years return to invoice cover. Much better than the £400 dealer option!

However I found a company called GapInsurance 123 who have quoted me £74 for 3 years RTI, or 5 years Vehicle Replacement Cover - the most comprehensive cover around, for £199.

This seems to good to be true - has anyone used this company before, and are they any good?





Before I get the standard "don't buy gap insurance" remarks, that part is already set in stone. If my car was written off now I'd get £5000 rather than the £2500 part ex price im getting. Given that my new car is more expensive and thus I'll have a higher gap to be insured, its a no brainer. My brother recently "lost out" on over £3500 when he was hit and his car was written off and his insurance payout was tiny. I'm not taking the risk.


Thanks in advance!
F1F93

InsideInsurance

http://defaqto.com/star-ratings/motor-gap-insurance

Defaqto seems to suggest the product is good based on its 5*

Which? whilst they have a guide to what GAP is doesnt have any recommended providers.

F1F93

Thanks. Have found another quote now at a similar price so doesn't seem as dodgy.

greyteam1959

I always take out Gap Insurance on a new car.
I think it is extremely sensible.
I always do as you do & find my own....last time I think I paid about 150 GBP.
It was 6 years ago so I can't remember who I used.

TheCyclingProgrammer

I recently bought a new car and took out GAP insurance (RTI) using http://www.car2cover.co.uk - they weren't quite the cheapest quote (although I emailed them and got a few quid knocked off) but their website is very clear and transparent about what it covers compared to some other policies.

I got 5 years for £168, cover up to £10k.

spikescot2005

Also looking at taking GAP insurance and came across HelpUcover. They are certainly the cheapest and payment is monthly. For up to £7500 of cover it comes to £3.23 a month. Just a bit wary of them. Any advise?

chanz4

helpucover doesnt do return to invoice

whatmichaelsays

Is it a brand new car (ie, are you the first name on the V5)?

If so, your insurer will usually offer vehicle replacement in the first year (sometimes the first two), negating the need for GAP.

cajef

whatmichaelsays wrote: »

Is it a brand new car (ie, are you the first name on the V5)?

If so, your insurer will usually offer vehicle replacement in the first year (sometimes the first two), negating the need for GAP.

So what happens without GAP cover after that period, say the car gets written off after thirteen months if it is only covered for replacement new for old by insurance for twelve?

InsideInsurance

cajef wrote: »

So what happens without GAP cover after that period, say the car gets written off after thirteen months if it is only covered for replacement new for old by insurance for twelve?

You get the "old" price only. In theory that should be enough and buy another "old" car but you may have finance issues if it wasnt a cash purchase

Tripper44

You have to be careful with gap as they make it sound like they will cover the whole cost sometimes as yet many are limited to a certain amount of percentage of the total car value, be careful read the small print