Gap Insurance...

[William1234]

Hi everyone -
I am buying a nearly new car and the dealer has told me about Gap insurance. Sounds like a good idea but you can never be too sure.

I'm told that the way it works is that if my car were written off my insurer would pay whatever the "trade" value of the car is at the time (no argument there - insurance companies never give us back what we paid!) The Gap Insurance will make up the difference - in my case the car is costing £14995 so in a couple of years time that could be as much as £5000. Dealer wants to charge me £395 for three years.

So, have any of you heard about it? If so your comments would be much appreciated.

I'm going to have a look on Google to see if there is any more info.

Thanks in advance - and looks like a good forum.

[bridlad]

Hi
Seems a good idea to me.Have a search on google first though you will find it could half the cost of the policy(say the garage want 400 quid you can find it for 200 quid on the net)

Ryan

[hellie]

i had gap insurance and i found it good my car was on finance and when it was wrote off the insurance company paid up some and gap insurance paid off the rest