Car tracker or GAP insurance

[rbh]

Fitting a non-Porshe fitted tracker is likely to invalidate the Porsche warranty, GAP insurance, should reimburse for any loss. Has anyone got any comments or experience.

Rob

[doneitnow]

Totally different products, tracker will hopefully mean they track your vehicle down after it is stolen, GAP insurance will make up any shortfall between the insurance payout and what you paid for the vehicle if you have back to invoice cover in the event that the vehicle is written off.

[rbh]

Hi Doneitnow, I appreciate that. I was going to get a tracker fitted (non Porsche) but then thought about the warranty implications. My query was of the two which would be the better way to go. If the Porsche tracker was adopted it costs around £1200, GAP insurance is around £400. However a non-Porsche tracker is considerably less expensive but would infringe the warranty potentially. I was interested if anyone had any thoughts.

Rob

[Bungleaio]

Would you really want your pride and joy back after it had been stolen? I wouldn't, hence why I would (and have) gone the GAP route.

[silverous]

I have always avoided trackers and GAP insurance. Don't want car back if stolen and get insurance with new for old in first year. After that I don't expect to be put back in a new car.

[Kudos]

you can get GAP much cheaper than £400. I paid £250 IIRC for £20k's worth of cover.

My broker told me on friday that if I smash my car in the first yr they'll replace old for new, so no need for GAP insurance.

moral of the story, smash it just before the end of yr 1 and get a new one!

[f1ashgordon]

At £400 for GAP insurance it sounds like you're buying through OPC, there's a lot cheaper out there.
For me tracker increased my insurance premium by £5, so I saved myself that and the £200 odd subscription and bought GAP insurance with it.

[Gio G]

I agree - I was offered GAP through the OPC for around £450, purchased it via easygap for around £190. I think with a £20k limit..

[moe19]

I have just been offered GAP on my new 981 cayman from my OPC for £600,told them I can buy it from easy gap return to invoice three years cover for £240.

I would hate to have a car stolen damaged then repaired and returned to me I always hope if it ever goes that I would never see it again.

[KPE]

Be careful with companies like Easy Gap. They pay the difference between market value and invoice value. What you need is Gap cover to pay the difference between insurance payout and invoice value because quite often insurance payout is less than market value.

[Magic919]

Ala worth a look for gap.

[Nano2nd]

The big risk with the low price no name GAP companies is they might not exist in 3 years time when u really need it!

[duncanoaks]

Hi Rob, Just a thought but are you sure your car doesn’t already have a tracker - pretty sure these things have been standard fit for some time?

[Far Cough]

What car is it on and whats the invoice value ?

If its under £40k you may not need a tracker. If you are going brand new then avoid OPC gap and get an online quote from some of the ones mentioned. GAP is a no brainer on a brand new car as it protects you from depreciation if something nasty happens in the first couple of years.

[moe19]

KPE said:

Be careful with companies like Easy Gap. They pay the difference between market value and invoice value. What you need is Gap cover to pay the difference between insurance payout and invoice value because quite often insurance payout is less than market value.

On return to invoice you will get back what the invoice price of the car was for example if you paid £60000
and it was written off after a year and your insurance only offered you £50000 then the gap would pay the £10000 difference to give you the original invoice price back.
Easy gap and ALA are both UK registered companies
The insurer of these policies is authorised and regulated by the Financial Services Authority (FSA) which means that your policy is protected under the FSA Compensation Scheme.