GAP Insurance

[moggymog]

I've just been told by the "cheesy" finance guy in the dealership that Mercedes have just withdrawn their GAP insurance for operating leases.

What does everyone think about GAP insurance? - and if it is worth having, is there a company you would recommend?

 

[moggymog]

Just realised I should have started this thread within the Insurance section - sorry (only just realised there is an Insurance section).

 

[Merc Owner 2B]

Worth having, yes. But search the web for deals at half the price of dealerships. Lot's of specialist insurers about with easy to quote websites.

 

[Dryce]

What does everyone think about GAP insurance? - and if it is worth having, is there a company you would recommend?

There are different variations on GAP - so be careful on working out what is being covered and conditions. (eg. what is the value or price that is being covered).

Personally I don't think it's worth having - but people's personal circumstances and their evaluation of risk vs value vs cost are different.

 

[blaser24nig]

Definitely worth having, I paid £200 for 3 years cover and having claimed apprx £3000 on a previous car, I wouldn't do without one. Just search for a specialist company...

 

[moggymog]

Thanks for your input guys - I think I need to do some number crunching and work out the worst possible potential losses.