GAP Insurance on a £27K new car

[oobster]

Fellow Pistonheaders,

I will be taking delivery of my brand new car in the next 4-6 weeks and the dealer has been trying to get me to sign up to their GAP insurance. From memory I think they were quoting around the £400 mark for a 3-year policy and I am vaguely aware that such insurance can be purchased elsewhere more cheaply.

Does anyone have any experience in purchasing GAP insurance, if so who from, and does anyone have any experiences of claiming on the policy?

While I would consider myself to be a reasonably good driver you can never say never and you can't know what other eejits on the road are going to do. Don't want to be in a position where the car is declared a total loss and I am paid out significantly less by my insurer than it would cost to replace the car.

[jwo]

I got gap insurance through ALA (replace with new car like for like within cover period) for a 4 year cover period for £240 odd - car value £35k. Much cheaper than dealers...

[MR00PEA]

As I am slack, Would someone explain to me what gap insurance is?

[S1_RS]

MR00PEA said:

As I am slack, Would someone explain to me what gap insurance is?

In the event of total loss of your vehicle, GAP insurance covers the difference in the price you paid for the car initially and the insurance payout so you effectively get what you paid for the car rather than the current market value after depreciation.

[Ozzie Osmond]

"New for old" car insurance. Essentially insures your depreciation in the event of theft/write-off in the early years.

Best bought in the market rather then from the dealer - if you really want/need it. Check out, for instance, this link,

http://www.telegraph.co.uk/financialservices/94727...

[MR00PEA]

Ahh I see, cheers

[oobster]

So, any experiences, opinions, recommendations etc to pass on?

[lexusboy]

GT86 perchance?

[TheBMWDriver]

oobster said:

So, any experiences, opinions, recommendations etc to pass on?

everyone told me ala is very good

http://www.ala.co.uk

[oobster]

TheBMWDriver said:

oobster said:

So, any experiences, opinions, recommendations etc to pass on?

everyone told me ala is very good

http://www.ala.co.uk

Thanks for that! I assume I would take out the Vehicle Replacement Insurance when I won't be funding the purchase of the new car on finance?

Not a GT86 lexusboy, it is a new Focus ST I have on order.

[BUG4LIFE]

I thought the new ST was meant to be way cheaper than 27k...that's Astra VXR cash. You must have some very nice options on the car!