Gap Insurance a few questions.

[Grandfondo]

1) Do you need it in the first year?

2)As the policy won't pay out more than invoice on an RTI would 50% of purchase price be reasonable for 3 years?

3)Are there any recommended companies?

4)Any bad experiences with GAP?

Cheers.

[oilslick]

Got mine through ALA at less than half the price the sales manager at the dealer was trying to sell me it for.

Think it cost me around £160 instead of £400.

Can't really help with the advice stuff, but for such a small cost compared to what I spent on the car it seemed like a no-brainer to me.

[b0rk]

First year? check with your insurer if they offer car replacement for vehicles written off in the first 12 months. Some do, some done.

Cover wise calculate or use glasses / cap or even the manufacturers finance GFV to work out roughly how much the car will deprecate by some cars deprecate a little over three years, some lots and lots. Do you want RTI or VRI?

RTI gets you back to the original invoice position, VRI gets you back to the current new purchase price, remember that over x years the manufacturer will increase the list price, may reduce discounts etc...

[rehab71]

Make sure you buy on quality as well as price, some of the cheaper online providers give a very low level of cover with lots of clauses. Look at the Defaqto website to help.