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  • FIRST POST
    • MSE Rosie
    • By MSE Rosie 18th Dec 15, 8:35 AM
    • 88Posts
    • 40Thanks
    MSE Rosie
    Gap insurance - guide discussion
    • #1
    • 18th Dec 15, 8:35 AM
    Gap insurance - guide discussion 18th Dec 15 at 8:35 AM


    Hi all,

    We've written a new Gap Insurance guide and would love your feedback.

    How did you find the info? Was it useful? Have you had a good or bad experience when buying gap insurance?

    Thanks for your help!

    MSE Rosie
    Last edited by MSE Tony; 22-10-2018 at 12:46 PM.
Page 4
    • longieuk
    • By longieuk 28th Aug 18, 6:58 PM
    • 1 Posts
    • 0 Thanks
    longieuk
    LV Insurance - cover 1st year of GAP
    Hi All,

    I have just spoken to LV about the need to GAP insurance, and they informed me that they cover the full cost of the original cost of the car for year 1.. does anyone know if this is the case, I have had a look at their policy.. but not sure.. and thus assume I get the GAP insurance now, and delay by 12 months ??
    • kolloth
    • By kolloth 5th Sep 18, 10:14 AM
    • 4 Posts
    • 2 Thanks
    kolloth
    Just curious about this.
    is this going to become the 'new ppi' where old gap sales can be claimed against mis-selling due to the 2015 ruling?
    can you claim against gap from over 10 years ago?


    I can see the adverts now!!!
    • boingingian
    • By boingingian 7th Sep 18, 8:12 PM
    • 9 Posts
    • 2 Thanks
    boingingian
    Driving Tuition
    I canít seem to find GAP Insurance that covers buying a vehicle that will be used for driving tuition.
    Iím picking up a new Seat tomorrow and not even the dealer can offer it me.
    Any idea why? Itís on a PCP with 20K miles per year. Just seems ridiculous to not offer it, even at a higher price if we are deemed higher risk.
    • Jlo31
    • By Jlo31 10th Sep 18, 10:26 PM
    • 90 Posts
    • 34 Thanks
    Jlo31
    I canít seem to find GAP Insurance that covers buying a vehicle that will be used for driving tuition.
    Iím picking up a new Seat tomorrow and not even the dealer can offer it me.
    Any idea why? Itís on a PCP with 20K miles per year. Just seems ridiculous to not offer it, even at a higher price if we are deemed higher risk.
    Originally posted by boingingian
    Greetings. I am a driving instructor to and used these people who insured driving schools. https://shortfall.co.uk

    Cheers

    Jlo
    • 1230EX
    • By 1230EX 1st Oct 18, 10:56 AM
    • 4 Posts
    • 0 Thanks
    1230EX
    Ford Ecoboot Engine Fires
    Saw on the BBC today Ford are recalling/repairing/refunding lots of Ecoboost engines that are catching fire

    a) surprised to hear this still happens in 2018

    b) I'd be surprised if the Ford payouts are for the original value rather than the considerably lower "market rate" - anyone know?

    Certainly happy/relived I'm covered - MSE have an ALA promo but I found cheaper elsewhere (MotorEasy)

    The key thing is don't buy it from dealers!
    • Lyndy80
    • By Lyndy80 21st Oct 18, 4:46 PM
    • 1 Posts
    • 0 Thanks
    Lyndy80
    I don't really understand gap insurance for my circumstances, my car was just written off I am the non fault driver, car was a used car and worth £7, 210, car is now estimated to be worth £3,595 to £4000 which I'm guess the insurance will offer anywhere between those figures, will gap insurance cover to the cost I bought the vehicle? As I still have? £2500 outstanding on finance
    • samkma
    • By samkma 19th Nov 18, 4:13 PM
    • 50 Posts
    • 4 Thanks
    samkma
    Is GAP needed for a personal lease hire car?
    • Penelopa.Pitstop
    • By Penelopa.Pitstop 20th Nov 18, 1:12 PM
    • 476 Posts
    • 171 Thanks
    Penelopa.Pitstop
    Do you mean PCH? Person Contract Hire?

    • samkma
    • By samkma 20th Nov 18, 1:21 PM
    • 50 Posts
    • 4 Thanks
    samkma
    Yes, PCH.



    Thanks
    • beth_s63
    • By beth_s63 22nd Jan 19, 11:44 AM
    • 3 Posts
    • 2 Thanks
    beth_s63
    Iíve saved £1,700!
    I naively bought GAP insurance after being contacted by a company I presumed was linked to the company from which I purchased my financed car. It worked out at just short of £38 a month!

    Today I found the article about GAP insurance as I had a feeling I was paying too much...

    After getting a quote from Click4Gap as recommended by MoneySavingExpert, I was quoted £115 total!! I only need a 2 year policy (not 4 as I was told by the other company) and itís renewable at the end of the policy if needed.

    Iím so pleased I found this information - itís saved me £1,700!

    I feel completely gullible, but luckily I have only paid one monthís worth of the old insurance!

    As a 22 year old, starting out with lots of financial decisions to make, MoneySavingExpert has helped me out immensely!!!
    • beth_s63
    • By beth_s63 22nd Jan 19, 1:51 PM
    • 3 Posts
    • 2 Thanks
    beth_s63
    Cancelled and Changed!
    Wow, thank you for the information!! I had no idea at all that this was the case!

    I have cancelled my GAP insurance with Click4Gap now, and have chosen a policy with GAPinsurance.co.uk instead (which also includes negative equity cover which I think would probably be good for me...?).

    Only about £50 more but I think itís definitely worth it as I wouldnít want to risk not being fully covered were I to need it.

    Again, thank you so much for the info!
    • beth_s63
    • By beth_s63 22nd Jan 19, 2:19 PM
    • 3 Posts
    • 2 Thanks
    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
    • By GT60 23rd Jan 19, 7:11 PM
    • 1,926 Posts
    • 957 Thanks
    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
    Spending my time reading how to fix PC's,instead of looking at Facebook.
    • GT60
    • By GT60 25th Jan 19, 9:36 AM
    • 1,926 Posts
    • 957 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
    Spending my time reading how to fix PC's,instead of looking at Facebook.
    • BigTony3xl
    • By BigTony3xl 30th Jan 19, 12:24 PM
    • 1 Posts
    • 0 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
    • By amole8 30th Jan 19, 5:44 PM
    • 1 Posts
    • 0 Thanks
    amole8
    Saved me over £200
    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
    • By GT60 30th Jan 19, 8:36 PM
    • 1,926 Posts
    • 957 Thanks
    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
    Spending my time reading how to fix PC's,instead of looking at Facebook.
    • ron.dullage
    • By ron.dullage 1st Feb 19, 3:46 PM
    • 1 Posts
    • 0 Thanks
    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
    • By lenis 6th Feb 19, 5:47 PM
    • 1 Posts
    • 0 Thanks
    lenis
    easy gap & gapinsurance123 is the same
    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
    • By MSE Tony 7th Feb 19, 11:52 AM
    • 73 Posts
    • 22 Thanks
    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
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