GAP Insurance, A good or bad idea?

**Wazza_G** · 02-11-2007,02:42 PM

Hi.

As I'm just about to get my new Golf, I was looking at taking GAP insurance (not the one offered by the dealership!), the return to invoice one, I was wondering if it's a good idea to take it or not, it's £200 for a three year policy with a max payout of £20k.

What's your opinion on this please.

**Eshrules** · 02-11-2007,02:46 PM

Originally Posted by Wazza_G

Hi.

As I'm just about to get my new Golf, I was looking at taking GAP insurance (not the one offered by the dealership!), the return to invoice one, I was wondering if it's a good idea to take it or not, it's £200 for a three year policy with a max payout of £20k.

What's your opinion on this please.

good good good!

i've never had finance without it, neither has any of my family. it's one of those insurances you can't afford to not have and £200 for 3 years cover, really isn't that bad.

GAP cover makes up the shortfall if your car is written off and the insurance payout fails to pay off the outstanding finance.

this happend to my brother, but Stoneacre had ill-advised him, he's just finished paying it off as a result.

IMHO, GAP should be as compulsory with finance, as insurance is with owning a car.

**Big_E** · 02-11-2007,06:31 PM

Yes it is certainly worth the extra money.

Not always the best deal through the dealer / or the place to where you buy the car, there are companies that will offer it you independantly. £200 seems decent though.

I deal with write offs for an Insurance company as my job, and the amount of people are devestated when we tell them there is £3/4/5k outstanding to the finance company that we won't pay.

Certainly worth it, also let you insurance company know you have it and ask for confirmation in writing of this informal.

**Ben** · 02-11-2007,07:06 PM

i've got it.

daft if you don't.

thankful if you do.

**RickT** · 02-11-2007,11:50 PM

Its worth having on a motor which will drop more than the price for 3 years cover.. ie all cars..

Rick

**Wazza_G** · 03-11-2007,10:04 AM

Thank you everyone, So there's another £200 to find...

**onzarob** · 04-11-2007,10:56 AM

I didn't even know what GAP insurance was!!!!

I don't buy cars on HP. I am fortunate to own my cars

Saying that in order not to end up eith no finance. I drive a 7 year old A4 and the wife drives a 9 year old Xsara. Both perfectly good cars in great condition just old in Marketing terms

(which means a bargain for me)

**fletch** · 05-11-2007,07:58 PM

i didnt bother with mine just an added cost aint it

**chrisvrscrx** · 05-11-2007,08:59 PM

I have unfortunately had to use gap when my Fabia vRS was written off, I did not have any shortfall in the finance because the car had held its price quite well, I did however, have the gap that gives you returned value. The insurance paid £10,000 the finance owed was £9,800 the car cost £12,500 is and I got £2,500 not bad really.

Get it, it's well worth it!!

You can sometimes add it to the finance so you wont have to find that £200 after all.

**buster** · 06-11-2007,10:44 AM

Originally Posted by onzarob

I didn't even know what GAP insurance was!!!!

I don't buy cars on HP. I am fortunate to own my cars

Saying that in order not to end up eith no finance. I drive a 7 year old A4 and the wife drives a 9 year old Xsara. Both perfectly good cars in great condition just old in Marketing terms

(which means a bargain for me)

Me too

although mine is 6 years old