Is Gap Insurance worth it?

[DirkSquareJaw]

Hi

When we were looking at purchasing a Cali, we were advised that it would be worth taking out Gap Insurance at the cost £400 over 3 years. Is this really necessary? Would we be stupid not to when spending so much money?

Thanks for all your help.

 

[MichaelB]

I think the simple answer is only you can tell. One thing I would recommend is looking around for it. There are different types of Gap insurance. Some cover the gap between your insurance pay out and what you paid for it. Some will cover for the gap back to a new vehicle of the same spec. Other types are out there too.

We did buy Gap but not from the dealer. We like the reassurance of knowing if someone rights of your pride and joy you will at least get a new one for your trouble.

Like all insurance if the worse happens you'll be glad you did. If the worse doesn't then it seems like money down the drain.

So it for you to decide but shop around and read the small print. We found www.directgap.co.uk was the best for us but that was a couple of years ago.

Best of luck...

 

[GrannyJen]

As previous post, and as with any insurance, one of those things that you would hope you never need but me personally i would feel naked and vulnerable without it

 

[Les]

The Gap insurance that they tried to sell me only made up to original invoice. Most motorhome polices provide for new replacement for total loss in first two years. Some restrict the mileage to 12k but I found Caravanguard offered 2yrs new replacement with 24k miles so your gap ins. for £400 is offering to make up to original invioce value in year 3 only.

 

[teeboy]

Personal preference, but I never buy Gap insurance.

If I am unlucky enough to have my car stolen or written off after 11/23 or 35 months, then I will be completely happy getting an equivalent car from the insurance company.

I just want an equivalent car if the worst happens - obviously you will have to haggle with the insurance company to get an equivalent car.

Tony

 

[MichaelB]

Just looked back over my records...I got a 5 year period new for old policy for less than you were quoted. So better deals are out there if that is the track you want to go down

 

[Barefoot62]

I took out the Gap insurance through VW and I' didn't pay anything near that amount. I just thought that if the worst happened them I would end up with the same spec on a vehicle and wouldn't be out of pocket.

Alasdair