GAP Insurance (again)

[developer]

So I took out GAP insurance on the new car (with the balance transferred from the previous car policy).

It pays the difference between insurance payout and invoice value for a 3 year period and seems quibble free (I failed to "trip up" the policy).

In the band £50K to £75K the premium is £238 for 3 years or c£6/month.

A bit of a no brainer really, even allowing for the £25K max claim.

Chris Knott, for anyone interested.

 

[AMGeed]

Well worth the money IMO to ensure you get the full value should anything happen. £6 a month really is insignificant.

 

[developer]

Sorry, I meant to say - in the event of a write off (including following a theft, which is my concern).

 

[TDE1]

Out of interest John, does it cover the cost of your excess too?

 

[developer]

Dunno Tim - I never asked .

Upto £35K was £1 per week .

 

[TDE1]

Upto £35K was £1 per week .

Hells Bells - that is good

 

[Rory]

It's not much, but that's because there's not much chance of it being called on to pay out.

Of course if it is, you'll be pretty grateful!

 

[RWDpetrol]

In the band £50K to £75K the premium is £238 for 3 years or c£6/month.

A bit of a no brainer really, even allowing for the £25K max claim.

Chris Knott, for anyone interested.

Well worth it. This is what I got from car2cover for £205 and it includes covering excess:

Return to Invoice Gap Insurance
4 Years Cover, £35,001-£50,000 Vehicle Value, £25,000 Claim Limit

 

[developer]

It's not much, but that's because there's not much chance of it being called on to pay out.

Of course if it is, you'll be pretty grateful!

I'm hoping you're right, however...