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Thread: GAP insurance

  1. #1
    Regular Member izonoky's Avatar
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    Default GAP insurance

    Has anyone ever bought this form of insurance? It's supposed to make up the difference (or the gap) in depreciation and the purchase price if your new car is involved in an early accident/theft.

    We turned it down when it was offered on the Vec & our Toyota Verso. Now we've got the X6 BM on the drive, we're giving it some real thought. But we can't seem to shake that nagging feeling that it's just another bread and butter scam, much like the PPI loan scams.

    We know it's bonafide, but the sales rep really lays on the scare tactics to sell it, and that's what puts us off.

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    Regular Member markm's Avatar
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    Never did it before until I got my last car, for the small amount I think its worth the gamble ,

    Got mine from http://www.car2cover.co.uk who were very good

  3. #3
    Ex Vec-C Admin Deztroyer's Avatar
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    for the small premuim - nice for the joker card to be played in case of emergencies rather than having to fork out money from your own pocket - especially with the level of depreciation on your new car when you leave the forecourt for the first time

    0-Large smile ......every time it's driven

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    Full Member spennny's Avatar
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    I currently have the GAP cover, you just never know

  5. #5
    Regular Member izonoky's Avatar
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    Quote Originally Posted by markm View Post
    Never did it before until I got my last car, for the small amount I think its worth the gamble ,

    Got mine from http://www.car2cover.co.uk who were very good
    Thanks for the link mark, the BM dealer quoted us 1,450 quid, that include tyres, keys, something else, and the car. We might be able to do better if we shop around.

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    Regular Member izonoky's Avatar
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    Quote Originally Posted by spennny View Post
    I currently have the GAP cover, you just never know
    Was it dealer sourced or independent?

  7. #7
    Regular Member izonoky's Avatar
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    Quote Originally Posted by deztroyer View Post
    for the small premuim - nice for the joker card to be played in case of emergencies rather than having to fork out money from your own pocket - especially with the level of depreciation on your new car when you leave the forecourt for the first time
    That's it really. Fact is our fully comp insurance is cheaper than the GAP insurance

  8. #8
    Regular Member markm's Avatar
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    Quote Originally Posted by izonoky View Post
    Thanks for the link mark, the BM dealer quoted us 1,450 quid, that include tyres, keys, something else, and the car. We might be able to do better if we shop around.
    VX quoted me £450 for 3 year plan, got it for £260 for a 4 year for a £15k policy, was happy to folk out the extra few quid a month for the extra security,

    HTH. cheers mark

  9. #9
    Regular Member izonoky's Avatar
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    Quote Originally Posted by markm View Post
    VX quoted me £450 for 3 year plan, got it for £260 for a 4 year for a £15k policy, was happy to folk out the extra few quid a month for the extra security,

    HTH. cheers mark
    Cheers, I like the look of those prices. With any luck we should be able to cut their quote in half.

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    I haven't had a motor on finance for a long time... however the last time i did i also had the GAP insurance.
    It was just as well i did as the motor was written off & the GAP came in very handy.

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