Hi all,

Has anyone brought gap insurance? If so did you had to made a claim and how easy was the process to make the claim?

I was looking at on-line quotes and for £65(cheapest) for 2years seem a good buy for a peace of mind.

Be great if you guys can help.

Chun

i paid a wopping three hundred quid for three years from the dealer hope i dont have to claim but it does you give peace of mind i know someone who did claimed he got paid out the full amount in about four weeks just one thing CHECK THE SMALL PRINT

i paid a wopping three hundred quid for three years from the dealer hope i dont have to claim but it does you give peace of mind i know someone who did claimed he got paid out the full amount in about four weeks just one thing CHECK THE SMALL PRINT

£300??? damn thats a lot of dough compared to £65 for 2 years. Really concern about the small print as they try to confuse the consumers and I really need to spend the time to read it properly before going ahead.

£300??? damn thats a lot of dough compared to £65 for 2 years. Really concern about the small print as they try to confuse the consumers and I really need to spend the time to read it properly before going ahead.

yep it is a lot but then i paid nearly seven and half grand for my vrs just a year ago so if it does wander of without me then i would like what i paid well a least for next two years anyway,65 quid sound a bit cheap to me but i not a gap insurance expert just wanted to be able to sleep at night i know that feeling when you come out of the cinema and your pride a joy is gone :(and they offer you nothing like what you think its worth

Your vrs is a lot more than mine as mine is only a 1.4 so buying gap insurance from the dealer sounds a better option, just in case you need to make a claim (touch wood you don't) there is always somewhere to follow up (dealer) if problems occur. I'm purchasing the fabia for £4000 so the premium is a lot less than a more expensive vehicle and also the age to consider. The prices can fluctuate from site to site but I'm still not sure if they are Legit With prices so low. Haha

£65 is way to cheap i work in the car sales industry and we sell 3 years for £319 which is about average price tbh i wouldnt bother whit gap for £65 theres just something not right about that to me and the price should be the same for any car no matter what car or age etc. its the policy and piece of mind your paying for really and as the saying goes "buy cheap, buy twice". its better to spend more and know your covered than to spend less and hope your covered! either way its your choice fella just hope if its that cheap you read the small print.

£65 is way to cheap i work in the car sales industry and we sell 3 years for £319 which is about average price tbh i wouldnt bother whit gap for £65 theres just something not right about that to me and the price should be the same for any car no matter what car or age etc. its the policy and piece of mind your paying for really and as the saying goes "buy cheap, buy twice". its better to spend more and know your covered than to spend less and hope your covered! either way its your choice fella just hope if its that cheap you read the small print.

I have been a member for a while, dont post much, but stuff like this really winds me up, sorry!

If the scheme is covered by the FSCS then it is covered. With the greatest respect the problem is not that online prices are too cheap, it is that dealers prices are way too expensive. Some is down to greed of the dealer, some down to economics, and some is down to Insurance Premium Tax (dealer must charge 20%, if you buy online its only 6%).

If you buy from a dealer then the salesman usually gets a cut, as may a business manager, possibly a sales manager and the business itself will want to make a profit.

So of your £319, for what is likely to be basic Return to Invoice Gap, approxiamately £65 is insurance premium tax, £100-£150 is various commisions/profit to the business and employees, the rest is the supply price from the insurers. Bear in mind the online brokers may well get preferential supply prices as they would sell thousands of more policies a year than one particular dealer.

And the arguement that you buy off a dealer because they would handle it, as far as I was aware insurance policies such as gap are handled by claims administrators appointed by the insurers, nothing to do with the dealer, who is simply the retailer.

I was offered a gap policy from a dealer recently for £395, found a better level of cover online (VRI) for 4 years not 3, for less than half the price, and when I looked closer it was the same underwriter (insurer) and claims administrator as the dealer policy!

The arguement that the dealer threw in was the same as yours, must be something wrong, just cant be the same, well it really was! A mate of mine just bought a merc slk, was offered gap for £799, Told him to try where I went and he got the same cover for £189!!

Its amazing that this is still used as an excuse, when the first thing we all do is check prices online for everything. If the polices are FSCS backed, regulated by the FSA then they are find, legal and above board in my opinion. The only difference is the price, because the dealer is greedy!

Gap Insurance is a personal choice, I've bought it twice now because for the price I see it as peace of mind. Dealer prices are a total joke though!