Recommended Posts

Hello all & sundry. Who here has experience or currently has GAP insurance? I believe in my limited research there are two types of payouts?

Does any one care to recommend a provider and average costs to yourself and if they had to claim who paid out without quibble?

Any experience or advice gratefully received.

Last year my car was written off and I lost money & time because of my insurer paying average market values which was way below car's worth to me.

Cheers...

Share this post


Link to post
Share on other sites
Super Wammer

last year when i bought a modest new car , i had to sit through 2 very heavy salesman giving me a very hard sell for gap insurance on a car under 10 k, i think they wanted 400 quid !! 

fortunately i had googled gap insurance previously and found quotes for under 100 quid so i was able to resist , after all that i never got round to doing it . sorry to hear about your car 

Share this post


Link to post
Share on other sites

I work for an insurance co:sofa:
I had a lease car for the last 2 years.

I would advise buying a GAP policy.

We don’t sell them, but they are certainly worth having.

Do your homework, they are available for anything from £100 upwards

There are a couple of different types.

There is the type which cover any shortfall, if you are buying on finance

Then there is the "back to invoice" policy.

It depends on how you are financing the car and your circumstances

It is a product I would definitely advice on taking. I did 

  • Upvote 2

Share this post


Link to post
Share on other sites

I lease my car and I have gap insurance.  I bought mine through the dealer (Porsche). for about £200 for 3 years cover plus some other money for a tyre insurance addon.  I have the sort that covers any shortfall on the finance in the event of a total loss. I have always had it, and did claim on a policy years ago (bought through a Mercedes dealer) - and they paid up without quibble to make sure I wasn't left out of pocket via outstanding finance when my car was nicked and not recovered.

Share this post


Link to post
Share on other sites
11 hours ago, cwarchc said:

Do your homework, they are available for anything from £100 upwards

There are a couple of different types.

There is the type which cover any shortfall, if you are buying on finance

Then there is the "back to invoice" policy.

It depends on how you are financing the car and your circumstances

It is a product I would definitely advice on taking. I did 

Car is paid outright, no finance involved. Therefore, I'll need to look for 'back to invoice' type of policy. My concern is like most types of insurance, do you get what you pay for? Get it cheap and when / if I need to claim I'm fighting their terms and conditions! 

Most types I've come across seem to be around a few hundred for 3 years. More investigating needed then. :^

Share this post


Link to post
Share on other sites

I use https://car2cover.co.uk/

Variety of policies, much cheaper than the stuff dealers try throwing at you. My current one which expires shortly was a back to invoice plus inflation. I'm looking to replace my car shortly and I'd definitely be going back to them.

  • Like 1

Share this post


Link to post
Share on other sites
5 hours ago, Sumdumgi said:

I use https://car2cover.co.uk/

Variety of policies, much cheaper than the stuff dealers try throwing at you. My current one which expires shortly was a back to invoice plus inflation. I'm looking to replace my car shortly and I'd definitely be going back to them.

Just had a quote and is very reasonable. Thanks for the info Les. :^

I will ring as well as I need to know what happens when the car goes over 100,000 miles. Looks good so far and a no brainer really...

  • Like 1

Share this post


Link to post
Share on other sites

Sorry, late to the thread. I have "back to the invoice cover" albeit with a £10k claim limit (for a modest car). Cost £113. for 3 years of cover. For that kind of money I reckon it was worth it. But the premium probably indicates the risk of a claim. I used

This lot

I found their service to be excellent. Certainly, I would not buy this cover from a car dealer. Much cheaper to obtain the cover elsewhere.

Share this post


Link to post
Share on other sites
2 minutes ago, peterh said:

Sorry, late to the thread. I have "back to the invoice cover" albeit with a £10k claim limit (for a modest car). Cost £113. for 3 years of cover. For that kind of money I reckon it was worth it. But the premium probably indicates the risk of a claim. I used

This lot

I found their service to be excellent. Certainly, I would not buy this cover from a car dealer. Much cheaper to obtain the cover elsewhere.

Thanks for the link. I'm encountering a few problems in my search. First, age of car is proving problematic with some but not all. Car first registered in May 2012. Secondly, mileage, mines now at 88250 and most won't insure, just a couple will. Finally, having owned the car just over a year, many won't retro insure so it's definitely narrowing down my options but it's not impossible...

Looks like it's definitely something worth doing though. :^

Share this post


Link to post
Share on other sites
On ‎20‎/‎07‎/‎2018 at 16:08, hifinutt said:

last year when i bought a modest new car , i had to sit through 2 very heavy salesman giving me a very hard sell for gap insurance on a car under 10 k, i think they wanted 400 quid !! 

fortunately i had googled gap insurance previously and found quotes for under 100 quid so i was able to resist , after all that i never got round to doing it . sorry to hear about your car 

Similar experience when I bought my last car over 5 years ago. Dealer quoted three times the amount. Its a good deal especially if you are unfortunate enough to need to claim on a stolen or write off vehicle.

  • Like 1

Share this post


Link to post
Share on other sites

I agree dealers or my one at least the premium was far too high, £300 on a used car. On a new car it maybe more worth it as the value drops so much in the first year, one reason why I never buy new cars now. These things are just another way for dealers to make money. 

If you want it you could look at Direct Gap. 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now