GAP insurance sales nonsense

IamNotAllowedToUseMyName

G_M wrote: »

I'm shortly buying a new audi, and was offered GAP for £600ish for 3 years cover. Declined.

Having looked online, I can get it for around £170 for 3 years.

But my car insurance (like most?) offers full replaement value for the first year of a new car, so GAP is just duplication.

It looks like you can buy GAP any time in the first 365 days of ownership, so presumably the time to buy GAP is 11 months after getting the car.

Or have I misunderstood something?

And if that's right, how does one differentiate between the apparent plethora of online providers - none of whom I've ever heard of......?

The duplication probably is not there, the pricing is probably on the assumption that you have new for old cover - you'll probably find that 2 years GAP on a one year old car costs much the same as 3 years on a new car. Worth checking though. Also, there are a variety of schemes, and if you have a lease or PCP there may be other costs to cover which the car insurance would not cover - e.g. early termination fees.

G_M

I've now found an insurer who includes in their basic comprehensive car insurancea brand new replacement car (same model/spec) if my car is stolen/not recovered or written off within 2 years of purchase from new.

This is irrespective of whether I own outright or buy on hire purchase/lease etc. - all defined in the poliicy doc.

Admittedly it took a lot of research, and comparing insurers' policies, but it means GAP inurance would be redundant for 2 years, which is fine by me.