Hello picked up new car today.

Was offered GAP protection. Pays out full retail price (not market value) if car written off.

£300 for 3 years.

Anyone thinks its good value?

Anyone had to claim under GAP policy?

Thanks for your interest.

Hi, I thought it was a loads of balls at first when I took it but then when I rolled it was well worth the money.

Have taken it out on the Fabia now.

Well worth £100 a year

I went with a third-party GAP provider - do a google search and compare prices - they should be cheaper. Or at least bargain with your dealer as it costs them a lot less than £300 from what I have read.

Although some insurance policies pay out for a new car in the first year of ownership, some (like my Norwich Union policy) won't pay out for a brand new motor if it's purchased under something like a PCP. Otherwise I could have got away with starting my GAP in a years time a save a few quid.

I bought GAP ins (Invoice) for 1/2 what the dealer quoted at the time - £174 for 3 years cover - the dealer was impressed with the price I quoted him but would not match it.

If you are paying your own money I think it is worth it. Do a search on line - there are several companies offering this - I bought from Surf and Protect ltd. giving £10,000 cover for 3 years for £174. The £10,000 is the max they will pay on top of your insurance companies payout to ensure you back the full amount you paid - Invoice Protection.

If you are buying on credit you need a different type of cover which ensures you can pay off the credit company in the event of a total loss as you may owe more than the invoice cost.

Yes well worth it,if the car is written off you only get the book price, and if you took out a loan to pay for the car,you would have to pay the difference between book price (insurance payout)and what you took the loan out for,which could be thousands of pounds,so £300 for peace of mind..bargain.

I would always get GAP insurance with a new car purchase, did it with SWMBO's Micra and her Octy vRS, when her car got rear ended it was reassuring that the GAP was there in case the car was written off.

For the price (less than £100 per annum) it's a bit of a 'no brainer' as they say.

Our's is a back to invoice policy, not perfect but it's 99% there.

Just go fot it

I bought it on line was less than half the price for 3 years cover

Thanks All, will now check out prices on the net.

Yes I think it's worth having. I got it on mine as it's the most expensive car I've bought, so just in case. Hopefully don't plan on needing it.

I went for the invoice price option, well worth the peice of mind,I will have to look at 3rd party option next time...

Google Gap Insurance

Her A2 was written off at just under 2 years old and we got 18k instead of market value of 9k.

25k cover for the Eos was just over £200 for 3 years, Current corsa was around £140 for 3 years.

All return to invoice.

Worth it but not at £300, you can get it elsewhere for £100-£130 odd for 3 years to a value of 15K.

Worth it but not at £300, you can get it elsewhere for £100-£130 odd for 3 years to a value of 15K.

would you really want to skimp on that sort of insurance though? i bet most of these companies offering the gap any less than 300 quid are run out of places like jeursey etc where they dont actually have to follow the strict uk guidelines and rules. also if you claim under a uk based policy you get the full backing from the FSA etc should anything go wrong, like they suddenly prove hard to get hold of

Plus as far as im aware most dont offer financal GAP(covering the financal shortfall) or cover upto 250 quid of your excess. Another thing is most decent companies will pay you out, ive heard of some cheaper companies telling you that you will have to go through one of their affiliated dealers. who when you ring wont discount the car from the list price, even if you got a discount originally as they know you have to use them.

good cover could do this for you:

20k car on finance (1k deposit for example)

total loss at 2 years

car worth 12k market value (insurance payout)

Finance stands at 14k (so thats 2k neg eq)

GAP pays 8K to the customer direct

customer pays off the finance (12k insurance plus 2k from GAP)

customers left with 6K in their pocket!!

and they even get their £250 back from the excess

so they can put that all into a new car as a deposit, use 1k for the deposit and the rest for something nice!!

all for 300 ish quid

Mines with a UK company and offers all the benefits quoted above and only cost me £175 - so please do not pay the dealer price as you are also paying him his mark-up and his insurance companies commission. Go direct via the web - Surf and Protect policies are underwritten by Norwich Union

Had it on the last few cars. Went for the dealer option.

Mines with a UK company and offers all the benefits quoted above and only cost me £175 - so please do not pay the dealer price as you are also paying him his mark-up and his insurance companies commission. Go direct via the web - Surf and Protect policies are underwritten by Norwich Union

sorry you still take the chance in my own opinion. getting it from teh dealer has the same perks as getting finance from them, and even choosing to buy the car in the first place. you know who you are dealing with, and have a real person to ask questions too.

but then its everybodies choice. but for example my own sister bought a car from me at work, i researched quiet a few compaines to try and see if its worth saving a few pennies, but in the end the fact i knew who underwrote it, and thought i'm taking this out to make sure that shes covered in case the worse happens, why risk going with a company i know nothing about??

plus they couldnt discount the product either, even for staff. i know who i'd be going with if it were my money (and that was!)

Some insurers will provide this as standard on a car insurance policy and will you with a new car if yours is written off within 12 months of new.

In fact NFU Mutual give you this cover for the first 24 months.

Best check your insurers terms first.

Some insurers will provide you with a new car if yours is written off within 12 months of new.

In fact NFU Mutual give you this cover for the first 24 months.

Best check your insurers terms first.

defo worth checking, but if you read into nearly all policys they will replace your car, but only for exactly the same model. If for example you bought a old style fabia sport 1.2i they wouldnt replace it with the new and now current model!

i spoke to a customer recently about this. he had the same issue with his insurance company when they refused to replace the clio he had as the current model wasnt the same as his old one. they offered to get him a used one instead!!:eek: :thumbdwn:

always check the small print

id go for it too, got my gap insurance off axa, they rang me after i insured my 06 octy vrs with them and did it for 250euro so you should be able to do it a bit better, thats around 180-190 sterling as far as i know:thumbup:

Our original policy was sold to us by an Audi dealer (Volkswagen finance and Cardif Pinnacle), we had to take them to the Insurance Ombudsman to get a full payout (long story) so buying from the dealer does not protect you..

Had no concerns so far with the others, policies with Hitachi capital.