Gap Insurance?

[M.C..]

I am getting my new car in March and the dealer mentioned about Gap, i had never even thought about it before but when you think about it it does seem a good idea if the worst did happen.
the dealer wanted £320 iirc but found these
http://www.click4gap.co.uk/index.asp
and for the return to invoice policy it would cost under £200 for 3 years cover.
do you think it is worth it?

 

[Harry182]

Worth having mate. but not at £320!

 

[Craig]

when i bought my honda 6 months ago i paid something like £150 or around that for gap insurance.its peace of mind really but im selling my car anyway so it doesent matter now

 

[TheCake]

Definately worth it.

 

[Day]

Yup, something like a clio that depreciates rapidly than I'd say it's worth having.

 

[Limca]

yup definately worth it..
i work for Honda..

i have to make sure every customer is mentioned about GAP INSURANCE...

its definately a must have, especially if your gonna spend a lot of money on these new cars... as their are too many s**thead drivers on the road these days... and no, im not that person.. honest :clown:

i love my job

 

[M.C..]

this is on a Honda civic
JLO do you think if i get the quote off the link i posted above they will match it at the dealer?

 

[lanky]

This probably sounds stupid but whats gap insurance?

 

[@Spoonie]

If you smash your car up and its written off they will pay you the shortfall after the insurance company has paid out the depriciated value.

So you pay 20000 for you car, 3 years later write it off, insurance pays 12000, gap pay 8000

 

[Da]

Gap does what it says on the tin, it bridges the gap between any insurance pay out (write off) and the amount you owe on the outstanding finance.

 

[jonnyjogpants]

if it was more than that i would still pay it

 

[Mark5290]

I have an RTI policy with click4gap, the premium was £163 for £10,000 shortfall over 3 years, if you go for it, read the small print as the cover will be invalid if you modify your car from standard, i phoned them up to clarify what their idea of modified is and they said anything that will increase the car's power/performance, anything like brake upgrades, different wheels would be ok.

 

[TheCake]

If you smash your car up and its written off they will pay you the shortfall after the insurance company has paid out the depriciated value.

So you pay 20000 for you car, 3 years later write it off, insurance pays 12000, gap pay 8000

Exactly what happened when my Cup went to the heavens. I actually made money out of it. Woo!

Mark - agree with what you said, but my Cup was heavily modified and they still paid out. Result!