Gap Insurance

[laterontoday]

Greetings,

I have recently bought a low mileage 06 Vantage and I am keen to get some Gap Insurance cover. Is anyone able to recommend a supplier as every company I have contacted so far will only cover a car up to 10 years old. I cant be the only person looking for such insurance so I wondered if anyone had any recommendations.

Thanks

[Big Ry]

To be honest, I really can't see the value of an 06 Vantage changing at all, so providing you've got decent insurance then they would pay out market value anyway (which should be more or less what you paid now).

You'd only really use GAP for something that you knew was going to depreciate enough to be worried, and I really can't see that happening on an 06 car, the hit has already been taken.

As you say though, most people aren't trying to get GAP cover on a 12 year old car. If you're genuinely that concerned, then take out normal motor insurance with a firm that will agree the value up front, job done.

[divetheworld]

I’ve got gap for most of my cars and all our company fleet. It’s more about ensuring the payout I require without wrangling with insurance in the event of total loss.
If you bought from a dealership in the last 180 days then shortfall.co.uk is a good bet. I’ve used them a lot.

[markiep1]

I went for an agreed valuation, surely this is along the same lines as GAP

[IanV12VSRs]

I always thought that gap insurance was to cover new cars where depreciation is significant. On older cars, as others have said, you could get the car valued and get an agreed value on the car. Not that expensive and probably worth it.

[Jockman]

IanV12VSRs said:

I always thought that gap insurance was to cover new cars where depreciation is significant. On older cars, as others have said, you could get the car valued and get an agreed value on the car. Not that expensive and probably worth it.

I used it to cover a 5 year old DBS. Very attractive pricing.

[laterontoday]

Many thanks @divetheworld I hadn't found that firm via google previously and they seem to be offering the policy that I am looking for..

For reference to other posters, Insurance with a guaranteed value is more expensive , in my recent experience, than standard insurance and a GAP policy. Just my experience though

[Big Ry]

I hear you regarding agreed value, but I still stand by my previous post, in that the value of an 06 Vantage is unlikely to change at all, so providing you didn't pay well over the top for it, then any insurer would need to pay you "fair market value" in the event of a total loss.

For what it's worth, I also used shortfall on my SP10, so i'm certainly not against GAP cover, just that i'm not sure it's required in this scenario.

But hey, go with the best option for you of course

Also, if you don't post pics then you didn't actually buy it, thems the rules