Insurance Gap Insurance

[Dimplyred]

I just thought I'd share this. I picked my car up three weeks ago. At the time of collection the buisness manager at the dealers offered me Gap Insurance. I must admit I was quite interested but opted to go away and think about it. I was made to feel I was mad not to take it up there and then, but I do like to consider things of this nature at length so said I would get back in touch in a few days. At first the offer was 3 years for £300, I enquired about a one or two year policy, and was offered a two year policy for £250.

Luckily I contacted my current car insurers to swap cover from my old car to my CTR. I enquired about Gap Insurance from them, only to be told that New Car Cover was a standard feature of my policy and meant if my car was written off or stolen and not recovered, then within the first year it would be replaced with another new one. Exactly what the Gap Insurance being offered by the dealers was designed to do, albeit theirs was for two years not one. I was quite happy with my car insurers standard one year cover and decided to not take the Gap Insurance offered by the dealer.

So it may be worth checking with your car insurers before you make any decision about dealer offered Gap Insurance, it could save some money.

[angie4m]

Yeah, all insurance providers have that cover on fully comp policies on new cars, but you have to read the terms as there is a huge but!

They will replace your car like for like if its written off withing the first year with a brand new car but only if they still make that model! Luckily for us they will be making the Civic for many moons to come.

My neighbour had her Toyota Carolla written off a few months back, she had bought it new and it was 7 months old, so you would think like for like, but no! As toyota do not make the Carolla anymore they then took the market value of the car and dumped a brand new Yaris about 2 months ago on her drive! We all know that the Auris is the replacement to the Carolla but because it wasn't a carolla she couldn't get one. They didn't even give her the option!

So its not as good as it made out to be. Gap is still alright for the next few years afterwards

[robbo51]

Dont forget that dealers are on commission to sell you it.
Just like they are for that paint sealing rip off stuff

[Dimplyred]

Originally Posted by angie4m

Yeah, all insurance providers have that cover on fully comp policies on new cars, but you have to read the terms as there is a huge but!

They will replace your car like for like if its written off withing the first year with a brand new car but only if they still make that model! Luckily for us they will be making the Civic for many moons to come.

My neighbour had her Toyota Carolla written off a few months back, she had bought it new and it was 7 months old, so you would think like for like, but no! As toyota do not make the Carolla anymore they then took the market value of the car and dumped a brand new Yaris about 2 months ago on her drive! We all know that the Auris is the replacement to the Carolla but because it wasn't a carolla she couldn't get one. They didn't even give her the option!

So its not as good as it made out to be. Gap is still alright for the next few years afterwards

Yes but the point I was making is that as Civic owners it is worth knowing before you decide to take out Gap Insurance.

Obviously they won't be able to replace your car with a brand new one if there are no brand new ones to be had, but as you say not really a problem for us, is it mate.

[angie4m]

Originally Posted by Dimplyred

Yes but the point I was making is that as Civic owners it is worth knowing before you decide to take out Gap Insurance.

Obviously they won't be able to replace your car with a brand new one if there are no brand new ones to be had, but as you say not really a problem for us, is it mate.

No mate its not! Lol!

Plus we would get a new one after a wait! Only problem is we would have to have some HUGE number on it too! lol!

[Dimplyred]

Originally Posted by angie4m

No mate its not! Lol!

Plus we would get a new one after a wait! Only problem is we would have to have some HUGE number on it too! lol!

I'd chisel mine off my old one

[angie4m]

Originally Posted by Dimplyred

I'd chisel mine off my old one

That doesn't suprise me! lol!