GAP Insurance

[Budweiser]

My GT4 has arrived at my OPC and I’m looking at GAP Insurance (not from the dealer).

I’m sure a lot of you have GAP Insurance and my question is Vehicle Replacement or Back to Invoice?

I’m thinking Back to Invoice as I’m unlikely to get another new GT4, thoughts please..

[northandy]

Just check your insurer may do new for old in the first 12 months anyway. And if that’s the case you can take gap out just before that runs out

[anonymous-user]

northandy said:

Just check your insurer may do new for old in the first 12 months anyway. And if that’s the case you can take gap out just before that runs out

This

[Fnumber1user]

Bought a £25k policy from Admiral for £240 inclusive, no brainer and no hassle in the event of a full loss etc.

[b0rk]

A good vehicle replacement policy will in the event of model being discontinued or not available pay out the market price for a replacement, for most cars this obviously is less than original purchase price. However with GT4 used prices being a bit mental such a policy may pay out more than RTI obviously check the small print of the policy/quote.

RTI would come normally into its own from year 2 onwards once deprecation drops the value below invoice.

[fistenburger]

On my last 911 I used ALA for a RTI policy and it was good value, but I cannot find quotes for GAP on my new 991.2 GT3 as the invoice value is supposedly too high. Are there any recommendations for GAP cover for this?

[Cheib]

Fnumber1user said:

Bought a £25k policy from Admiral for £240 inclusive, no brainer and no hassle in the event of a full loss etc.

Seems expensive to be honest.

My policy with Hiscox includes policy terms of payout at total invoice value for two years (so no need for GAP). Which is effectively agreed value I suppose. Hiscox will be more expensive than Admiral for standard cover but maybe not if you include all the policy terms. I’d also argue I’d rather be dealing with Hiscox in the event of a claim. Insurance companies all work to the same margins pretty much….pricing reflects cover/the risk they take.

[Fnumber1user]

Cheib said:

Seems expensive to be honest.

My policy with Hiscox includes policy terms of payout at total invoice value for two years (so no need for GAP). Which is effectively agreed value I suppose. Hiscox will be more expensive than Admiral for standard cover but maybe not if you include all the policy terms. I’d also argue I’d rather be dealing with Hiscox in the event of a claim. Insurance companies all work to the same margins pretty much….pricing reflects cover/the risk they take.

I insure the car through Locktons, this policy is purely an up to £25k to bridge the gap between what the car cost, and what its replacement would cost - especially useful I thought as I have the 2.5GTS F4T and the replacement would be a 4.0GTS as the 2.5 was discontinued. £240 for up to £25k seems like good value to me, particularly as it covers 2 years too. YMMV.