GAP Insurance for a Ferrari owned over 365 days?
Discussion
Hello Angus, hope all is well with you. When I bought my 599 the salesman said GAP insurance was not really necessary as it covers the shortfall between the price paid for the car to the market value at the time of the loss. That could be significant in a quickly depreciating asset. However, in a car such as the 599 which is arguably appreciating in value, or at the very least holding steady, there is essentially no shortfall to cover. You'd get the market value from the insurer, which would be a higher figure than the original purchase price.
PS. I'm no insurance expert, so I stand to be corrected.
PS. I'm no insurance expert, so I stand to be corrected.
Gassing Station | Supercar General | Top of Page | What's New | My Stuff