Gap insurance

[Keith Harris]

Hi , what’s the word out there on gap insurance please, obviously not from the dealer.
thanks

 

[mj224]

I bought it for my Mazda RX8, as I thought it was a valuable car (11 years ago).

In the end its money for old rope for the Insurance company. The chances of you pranging the new car are pretty small.

But you never know............:-(

 

[Keith Harris]

Well I think maybe your forgetting the law of Sod my friend

 

[Chrispydoc]

Never bought it...never missed it.....its one of the things cars dealers try to sell you once they've agreed the price....like posh paint protection, stain proof interior etc. ...No thanks.

 

[mj224]

Well I think maybe your forgetting the law of Sod my friend

I'll say no more.................

 

[Keith Harris]

Actually been looking into it and most insurance covers you for a replacement within the first 12 months

 

[Jontremayne]

When I got my ZS EV in early Dec I looked into gap insurance as it was the first brand new car I have had for 25 years. I had been told it would be an expensive non essential. I rung round and got a 3 year deal from Admiral for only £200. Its a bit like breakdown cover, seems a waste of money until you really need it!

 

[Mark Holmes]

I also used Admiral and agree it’s money well spent...

 

[Jake]

Any insurance is a gamble and your attitude to risk. If it makes you feel comfortable then shop around for the best quote and don't accept the dealers price as it's probably not competitive. If you're prepared and can afford to take the risk yourself then invest the premium where you might get a better return for your money. If you don't make a claim then that money is lost. It's all about the odds.

 

[Mark Holmes]

Three years full return to actual purchase price if stolen, written off or for any other reason for £200 is well worth the money from my perspective and peace of mind.

 

[Chrispydoc]

We all 'pays our money and make our own choices'. Nothing wrong with that.

 

[Jake]

Three years full return to actual purchase price if stolen, written off or for any other reason for £200 is well worth the money from my perspective and peace of mind.

Fully agree if it gives you peace of mind. But GAP is insurance for the difference between write off value and new price only. In terms of value for money in comparison to your normal (compulsory) insurance which covers up to write off cost AND third party liabilities (almost infinite) then it is expensive comfort. I have only once bought GAP insurance and that is because I had the car on 2 years PCP and I didn't like the thought of having to continue paying for a car I no longer had if worst came to the worst and I wrote it off.

 

[MarkLynn]

This month I had this discussion of gap insurance with my own insurance company. Reason is my second hand MG5 is now worth nearly £3000 more than I paid for it. Sheila's Wheels assured me they would use market value for a total loss, however when I explained the listed value in my policy was wrong they suggested I update this figure. Yes they charged me for it but at least if I have a total loss I can now replace my car with like for like

 

[Justin H]

Just a word of warning for anyone who may need to use the Gap insurance. Me and my work mate were in a crash in January and my mate accepted the write off price before speaking to his gap insurers. They didn't agree with the price leaving a £3000 deficit. It looks like insurance providers don't work from the same scale.

 

[Ian MG5]

Hi
I got gap insurance for my Mg5 long range for £131 for 2 years from motor easy
???????

 

[bwanamdevu]

And here I was thinking that Gap Insurance was when students take a year off from their studies to travel the world!

 

[Mihir]

Check out quotes for GAP insurance on easygap insurance - easygap.co.uk. I paid £159 for 3 years. I agree it may feel like money wasted in many occasions but its well worth it to cover the entire invoice of the car for 3 years. It not only covers written off cars but also stolen ones. With keyless entry, keyless starting of the car and being able to unlock the car from iSmart app, I'd rather pay £159 for 3 years and have the peace of mind.

Additionally I also purchased motor excess cover insurance of £500 for £35 for a year. And I increased my excesses with my insurance company to £500. And guess what, I got a discount of £60 on my insurance premium!

Finally I purchased the smart insurance from EasyGap that gave me insurance for alloy wheels, dents and scruffs and the interiors for 3 years. Yes dents and scruffs are covered by our normal insurance but I'd rather get it fixed by EasyGap than have a claim against my name for the same should there arise such a situation.

I agree all of these are based on how much of risk one is prepared to take or let go and it comes down to individual preferences and choices but I personally feel spending £500 covering all of this is well worth when we are spending on avg £30k on a brand new car.

 

[Webbo]

Hi
I got gap insurance for my Mg5 long range for £131 for 2 years from motor easy
???????

I got mine through them also, less than half what the dealer quoted

 

[smokie]

Additionally I also purchased motor excess cover insurance of £500 for £35 for a year.

I thought that was only available for hire cars, who did you get it through? (or please provide a link)

 

[Mihir]

I thought that was only available for hire cars, who did you get it through? (or please provide a link)

Here you go - Motor Excess Insurance from Easy Gap