I have just ordered a new Fabia on PCP over 42 months and looking to buy GAP insurance. Although good advice has been provided on the merits and companies to consider can anybody help with some guidance on first year deferral? I've checked and my car policy will replace the car with a new one in the first year, so will I need to get a quote for a 3 year GAP policy or 4 years to cover the 42 months of the PCP agreement? I think it's the former but thought it best to ask. Thanks

Read the New for Old terms carefully to ensure that you are aware of any potentially significant restrictions. For example, here are the terms for one car insurer:

'Your car must be less than 12 months old at the time of the loss or damage. Your car must have been registered as new in your name. A replacement car of the same make and model must be immediately available. If no replacement car is available we will pay you the market value of your car at the time of the loss or damage.'

have a look at http://www.autotrader.co.uk/gap-insurance

 

looks a lot cheaper than dealers

 

I have haggled it to a months car payment before so the dealer didn't have to refund anything to me due to difference in settlement figure, less than half the original figure they first asked for gap insurance

 

so they normally appear to have a good margin in it so haggle hard over it

FWIW, I have just claimed on a policy from Click4Gap and they are in the process of settling (as far as I know!). They have various levels of cover, but make sure you read the small print!