New Car Additional Insurance - is it worth?

Nasqueron

Mine was gapinsurance.co.uk

barnaclebill

Did take this sort of extra insurance a few years ago mainly because I was at sea and my wife said she would feel more secure when I was away.
Never again, did claim for one tyre £220 and that was it, I knew it was a rip off but the wife wanted it and when I was away for four months I tried to cover everything.

The_Real_Cheddar_Bob

As mentioned above, the services are offered by the sales person as they do have a benefit the buyer, however i didnt feel they benefited me so i didnt take gap or any of the other products offered at point of sale.

my wife has a curbed alloy on the car we purchased and the result to fix it is about £50/60. A whole set is about £200 to get refurbed, so you could afford to do it twice in 3 years and still pocket £50

deaston

So has anyone actually had to claim on GAP insurance? And do they think it's worth it?

I spend £40,000 on a car and it loses £10,000 over three years, then I'm £10,000 out of pocket - cars depreciate, it's the way it works.

It seems GAP is insurance against my insurance, and it only pays out on the highly unlikely event of a complete write-off.

Mercdriver

deaston wrote: »

So has anyone actually had to claim on GAP insurance? And do they think it's worth it?

I spend £40,000 on a car and it loses £10,000 over three years, then I'm £10,000 out of pocket - cars depreciate, it's the way it works.

It seems GAP is insurance against my insurance, and it only pays out on the highly unlikely event of a complete write-off.

How are you financing the purchase?

I ask because my younger brother declined GAP and his car was written off in non fault to him accident and he ended up paying off the rest of the loan with nothing to show for it.