Gap insurance - guide discussion

beth_s63

Ok so one more post!!

About 5 minutes after switching to gap insurance.co.uk, they called me to let me know that negative equity cover probably isn’t necessary for me and have helped to cancel the policy, and adjust it to a policy without the negative equity cover!

So thankful they have done this - they could have easily just kept the money!

Hopefully I’ve finally found the policy that I should be on...

GT60

we have just purchased a replacement used car (cash sale) do we need gap insurance?
The main driver is my son and he has only been driving a month.
Thanks

GT60

Hi thank you for your reply
the car is a Hyundai Santa FE premium with 58000 miles on the clock 2012 model on a 62 plate and paid cask £10000 for it after the old car was written off after an RTA NON fault
That was a 2010 Santa FE we have had from new with 48000 miles on the clock and the insurance paid out £7700
Thanks

BigTony3xl

I bought a new Fiesta on PCP finance and wanted to have gap insurance to make up the shortfall incase the worst happened. As having never purchased a new car before, I hadn't heard of gap before.
Didn't like the price the dealer quoted £479, so after reading the MSE page about it, I used the link and 25% on the page and got my gap insurance for £150.
Extremely pleased about that, many thanks MSE.

amole8

Thanks MSE!
Nearly bought the dealership gap insurance but because THEY messed up and didn't send me the document that I needed to sign when they should have, it was going to hold up the collection date of my car.

I looked into it, found the article, decided to purchase the insurance and followed the link to Click4Gap-quote was a third of the price of the policy the showroom nearly sold me and I got 25% off with the code!

I promise I'm not being paid to say this!!

Can't thank you enough. Means I can collect my car tomorrow too!

GT60

As lostinheaven say click for gap is a mega mistake.
I read all the reveiws then looked back at what i had on my last car in 2010 and that was with ALA so went with them again
5* or 2 * rating not a hard choice really just saying

ron.dullage

Hi there,

I have owned an Alfa Romeo Spider 3.0L V6 Convertible registered in December 2001 for nearly six years now. There were only approx. 200 like mine brought into the country and only about 1,000 3.0L V6 Spiders overall. What concerns me is that Parker's Guide quotes the value of it at around £1,900/£2,000. I defy anybody to find a car like mine in the same (good) condition for that sort of money. Realistically, you are probably looking at £5,000+. My car insurers are telling me that in the event of a write-off they would pay out "market value" i.e. £1,900/£2,000 and they suggested that I look into gap insurance. Unfortunately, none of the companies mentioned on the MSE website will touch it.I am sure that it is for purely commercial reasons but why won't these companies deal with individuals like me with genuine concerns about accident damage. I suppose that they won't make enough from the premiums!

The actual value of the car is not really an issue with me as I just constantly have a smile on my face when I am driving it but I do worry about getting it written-off and not being able to afford to buy like-for-like.

Any suggestions would be greatly appreciated.

lenis

Dear Sirs


Thank you for your article about GAP insurance. I found it informative and useful. However, it left me a little worried the fact that Easy Gap and GapInsurance123 apear to be the same company although listed as different ones. They have the same telphone numbers, etc....
Can you please explain or comment?


Thank you


Regards

MSE_Tony

Hi lenis

Thank you for getting in touch and sharing.

You have raised a very good point and will certainly look in to this (and amend the guide accordingly).

Thank you again

MSE Tony

MSE_Tony

lostinheaven wrote: »

What I find slightly questionable though, is that MSE publish a GAP insurance Guide and within it, specifically focus on four GAP insurance providers. Two of which they have a commercial arrangement with (denoted by an * next to their name) whilst with the other two brands (EasyGAP and GAP123), it's not currently possible to buy GAP insurance policies from (and hasn't been for a while) :undecided


Or is that just the cynic in me?

There is also a link to Insure&Go, which does not have a *