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Thread: GAP Insurance.

  1. #1
    Suipedali's Avatar
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    GAP Insurance.

    Does anyone on here have any experieces, good or bad of using this type of insurance. As usual it's more than double the price with the Audi Dealer. Looking online it seems a fairly competitive market. Any information or advice would be welcomed.

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    Just another tax on the stupid IMO. Only really applies to brand new cars, but even then it's a total waste of money. I could spend all my annual income of insurance and warranties and then insuring the insurance etc etc, for "what if the worst happened" occasions. Up until now (20 years of driving) it would have all been money completely wasted.
    Last edited by AndyMac; 19th February 2008 at 13:50.
    "How to tear apart the ties that bind, perhaps fcuk off might be too kind"
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    Suipedali's Avatar
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    Only asking as I had a pain in the ar*e situation with one of my cars a few years back. To be honest you couldn't have a decent night out on what the brokers charge as a premium for a 3 year policy. Just wondering as anyone claimed against one of these policies?

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    The GAP insurance is there to protect you against depreciation in case of the car being a complete write-off. it does have a place if you can get a decent price on the policy & your going to be a high mileage driver and so more likely to have an accident or just prone to accidents!! I work for an asset finance arm of a bank begining with "B", we offer this to our customer base for their vehicles and not many people actually take it, although we're not as pricey as most dealers! From my old days in the sales team i've had customers who've had it and been grateful, those that saw it as a waste of money and those that didnt have it and bought on their replacement vehicles after they wrote off their previous ones! As with all insurance, if you've got the spare money and can get it for a good price then it may be worth it. Most used cars have lost a lot of their initial value so the cost often outweighs the benefits.
    A4 3.0 Quattro Sport - Gone & missed everyday!

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    ........Smart Roadster - arguably the most fun you can have in a car without using lube!!

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    Suipedali's Avatar
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    Thanks for the information. I'd still like to hear from anyone who's claimed on this type off insurance.
    2013 Audi A4 Avant Black Edition, Porsche 911 (997) Carrera 4 S, BMW F800GS, Colnago C59, Colnago C50, Colnago Cristallo, Colnago Pista

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    Ive got it as it only cost me 63. I hve never made a claim on it though............. touch wood

    54 A4 Avant 1.9TDi SE 130 6sp, factory fitted RNS-E Sat Nav, Colour DIS, 6-disk changer, Bluetooth, rear parking sensors and ambient lighting.

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    I took it as I felt it was worthwhile. I'd added about £5k of options on the car and didn't want to be given a standard car in the event that mine was written off. The one thing to be careful of is that most GAP insurance will only make up the gap between the insurance company's offer and the invoice price of the car. So if you got a good deal when you bought the car you may still have to add some of your own cash if you can't get the same deal on the replacement car.

    What is annoying is that most insurance companies will replace like-for-like in the first year of insurance on new car so ideally GAP insurance would start from year 2.

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    "you may still have to add some of your own cash if you can't get the same deal on the replacement car"
    That's why I have GAP insurance on my GAP insurance - you can't put a price on peace of mind!
    "How to tear apart the ties that bind, perhaps fcuk off might be too kind"
    Alex Turner

  10. #9
    46TheDoctor's Avatar
    Valentino Rossi A.K.A The Doctor

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    GAP is all very well till its time to pay out, i know ive been had by them when my M3 got written off. Steer clear, sorry to be blunt but its not worth a ****!!!! They wouldnt pay out because id done too many miles!!!
    54' A4 Avant TDI130 GmBh Sport Sline-19"RS6 Alloys + SATNAV+RNS-E+ TV/D.V.D/MP3+ Colour D.I.S+ Bose Hi-Fi+Bluetooth+Heated Buffalino Leather+ Aluminium Fishscale inlays+ Xenons+ 6 disc changer+ Interior Light Pack+ Storage Pack+03'VW Bora TDI150 Sport Highline+ 05' ZX-10R Ninja

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    Nickynibbles's Avatar
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    Quote Originally Posted by 46TheDoctor
    GAP is all very well till its time to pay out, i know ive been had by them when my M3 got written off. Steer clear, sorry to be blunt but its not worth a ****!!!! They wouldnt pay out because id done too many miles!!!
    As with all things in life if you dont read or not aware of the small print you may fall foul of the conditions! A good point made though, t&c's can vary between policies so its worth doing more than just comparing the price tag.
    A4 3.0 Quattro Sport - Gone & missed everyday!

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    ........Smart Roadster - arguably the most fun you can have in a car without using lube!!

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    Quote Originally Posted by 46TheDoctor
    GAP is all very well till its time to pay out, i know ive been had by them when my M3 got written off. Steer clear, sorry to be blunt but its not worth a ****!!!! They wouldnt pay out because id done too many miles!!!
    Thats one reason why I read everything carefully before agreeing to something. Im fully covered no matter what

    54 A4 Avant 1.9TDi SE 130 6sp, factory fitted RNS-E Sat Nav, Colour DIS, 6-disk changer, Bluetooth, rear parking sensors and ambient lighting.

 

 

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