New car and gap insurance

meat_n2_reg

Hello

Just ordered a new skoda citigo , was initially looking at a used car 2-3 years old , however managed to get a new one for £8k so have treated myself

Have looked into Gap Ins and also checked my fully comp insurance

My insurance covers new for old for first 12 months , so I am thinking that I don't need the Gap insurance

welcome your thoughts

thanks

tehone

Assuming thats true, GAP insurance usually covers 3-5 years, so in a worst case scenario, are you willing to take that additional hit?

greyteam1959

GAP insurance is well worth the money in my opinion.
Do NOT buy it from the dealership sort it out online yourself & save yourself £££

Tom99

I think some GAP insurers will give you a policy starting in year 2.
Hopefully you will never need it but the risk is you write the car off when its 18mths old and get offered 50% of what you paid for it.

EssexExile

I wouldn't bother with GAP but it's a personal decision depending on your views on risk.

Scrapit

It's so cheap to buy that it's a non issue.

gord115

Scrapit wrote: »

It's so cheap to buy that it's a non issue.

What is? The GAP or the car?

meat_n2_reg

Thanks for the replies
Online quotes are about 70% cheaper approx £100 so most likely going to play on the safe side and get some GAP sorted

Boomslang

EssexExile wrote: »

I wouldn't bother with GAP but it's a personal decision depending on your views on risk.

10 years ago I would have agreed with you but I think the older you get the more risk averse you become.

Interestingly after an accident last year (travelling with MIL) I used her AA cover to recover car home. I took out AA cover the next day. I have had to call them out 3 times since.

I also can't be arrised to pfaff around under the car anymore

foxy-stoat

Just diary yourself a year in the future and buy GAP in year 2 of ownership - Back to Invoice please and bet you total it at some point and beat depreciation.

Graculus2112

I was told that several PCP providers won't accept replacement vehicles in the first year and want a cash alternative instead, and that some insurance companies then revert to a market value payout instead. Same is true if you can't wait for a replacement (e.g. if it's a months-long factory rebuild). If that's the case then you wouldn't have cover in the first year.


Also I don't think many gap providers can even offer policies if you wait a year - most are 3 or 6 months now. It's a lot cheaper buying online than through the dealers anyway. From my experience though I'd look at the likes of gapinsurance.co.uk or ala who use stable UK-based underwriters and steer clear of the offshore ones that keep going bust!