Gap Insurance

[sheruthedog]

Just taking delivery of a new car. Stretched to the max. The dealer has offered me supaguard which I nixed based on a number of posts I've seen and also Gap insurance. On Gap I have two questions :

- Is it worth it ?

- Do I have to take it at time of sale ? The dealer says yes but I'm sceptical.

Thanks

[SHAHZ]

I think you have 30 days to take the GAP cover

[fergy]

I went for it...covers me for car being up to 3 years old. To be honest this is the first time that I've taken it and I have mixed feelings about it.

Still if I write off car or it is stolen I get enough £££ for a new car... :D Just have to hope I never need it.

[kitty]

I went for it £190 is not a lot of money if the car gets stolen or written off - hopefully never need !!

[fergy]

So...If you have this...and something happens.... do you just get a cheque for difference and then are free to get what ever you fancy with money ?

[sheruthedog]

190 ? I am being chargd 380. Is it negotiable then ?

[fergy]

Sure it was £200 from my dealer.. might be worth shopping around ?

[derekyau]

I did a little post here about GAP Insurance a while ago...

It's just like all insurance - good if you need to make a claim!!!

[kitty]

good post Del Boy.

I took it out from the dealer who plugged the numbers in the computer and out came £190 - not sure if post codes come into it as with normal car insurance, but he said "same prices if i was to buy a £6k Ford Ka, so the nearer you get to 50k the better"

[sheruthedog]

Thanks - very useful and a good site too....saved me a hundred bucks

:D

[thedtb]

www.surfandprotect.com Did me an excellent deal on my GAP Insurance policy. They do a 10% discount off their web prices for people who's Insurance policy has New for Old replacement within the first 12 months.

My policy only cost me £198 (Their Silver policy) and as far as I can tell it's the same policy (different administrator but same underwriters) as the one that the dealer was trying to sell me for £450.00.

David

[Jolliffee]

www.surfandprotect.com Did me an excellent deal on my GAP Insurance policy.  They do a 10% discount off their web prices for people who's Insurance policy has New for Old replacement within the first 12 months.

My policy only cost me £198 (Their Silver policy) and as far as I can tell it's the same policy (different administrator but same underwriters) as the one that the dealer was trying to sell me for £450.00.

David

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Too late for me I took the dealers offer, its like buying a loto ticket you think well if it happens I bet this is a nice earner for them too

[thedtb]

I bet this is a nice earner for them too

←

You can guarantee it is. I used to sell cars... in my time doing so I worked for Toyota, Fiat and Ford and for all three dealerships I worked for, the likes of GAP Insurance, MOT Insurance, Warranties, Supaguard (which incidentally I would never buy for my own car - read in to that what you will), and all the other misc products that as a salesman I had to get the customer to sign to say I'd at least discussed with them before my Sales Manager would allow the car to leave... contributed to more than half of the overall profit that the dealerships were making... yeah it's big money for them!

David

[GAZMAN]

I bet this is a nice earner for them too

←

You can guarantee it is. I used to sell cars... in my time doing so I worked for Toyota, Fiat and Ford and for all three dealerships I worked for, the likes of GAP Insurance, MOT Insurance, Warranties, Supaguard (which incidentally I would never buy for my own car - read in to that what you will), and all the other misc products that as a salesman I had to get the customer to sign to say I'd at least discussed with them before my Sales Manager would allow the car to leave... contributed to more than half of the overall profit that the dealerships were making... yeah it's big money for them!

David

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the dtb ! why do you say that about supaguard ?

I must be honest and after shopping around for my RX 400 (which I pick up on Friday) its the only thing they are including for nothing (and I had to negotiate for that) Is Supaguard any good at all ?

Sorry to go `off topic` but back `on topic` I spoke to my Insurance Company yesterday re: my new car and asked them about gap insurance - they said they`d never heard of it. They said in worst case scenario if written off or stolen they would pay me the going rate as if I was selling it privately !

Gazman :zee:

[onzo]

GAP is a real must for me, though been putting it off since buying the car back in April.

Found a company who will provide it upto 90 days after purchase and who do a flexible set of policies. www.gap-uk.co.uk.

I'm considering if it's worth taking the extra hit on the policy that provides cover for the price of an "equivalent spec vehicle" - rather than the return to invoice policy, this way apparently you can ensure that the GAP payout makes up any shortfall in the original invoice price and any discounts that you are not able to obtain on the new vehicle - within the limit of the payout (up to £20K)