Return to Invoice Car Insurance

Sladevalley

I have just purchased a nearly new car from a reputable dealer. They offered me Return to Invoice Insurance, which on the face of it seemed a good idea. Searching this website did not pop up any results, however a number of insurers offer this type of cover and are much cheaper than the dealers offer of £349 for 3 years. I can get similar cover from £63 but am not sure of the companies standing in the insurance community. Perhaps the team should do an article on this as garages are law bound to offer this type of insurance.

agrinnall

I assume you're talking about what is generally referred to as GAP insurance. There's an article here

http://www.autotrader.co.uk/gap-insurance

It's unlikely that the dealer's offer is anywhere near good value.

Aretnap

Sladevalley wrote: »

...as garages are law bound to offer this type of insurance.

Erm, are they, or did they just tell you that they are?

http://www.theguardian.com/money/2007/mar/10/motorinsurance.insurance

GAP insurance is certainly a nice little earner for the dealers (who sell a high price version and pocket a good percentage of your premium as commission), but as with most things you can nearly always get a better deal with a bit of shipping around than you can by just accepting it from the first pushy salesman who offers it.