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Hi there,


I was very interested in this article as just signed up for GAP insurance at the Ford dealer on Saturday. Thanks to your feed, I have managed to save 200 pounds.



I will be cancelling the dealer sourced GAP tomorrow.



Glad I found this great forum.



Kind Regards,

Kevin
 

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Hi

I have ordered a new Kuga on options finance over two years. so I am wondering if I should get the GAP insurance provided by the dealer or look for them online ? I am looking to get a differed GAP insurance.

And also If I go with the dealer GAP insurance which GAP insurance should I take ? because they are offering two types of GAP insurance they are invoice GAP insurance and combined insurance and also re there any good GAP insurance online ?

Thanks in advance fro your reply
 

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Is GAP insurance worth it or not ?

How many of you have taken out GAP ?

I have never bothered before, always been a case of 'i will cross that bridge if it ever happens', but the salesman I bought my car through said that he sold a car to a woman, she picked it up and drove it out of the car park and got hit by a lorry and wrote off her brand new car - unlucky !!!

So it has given me a bit of a reality check
 

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Red Max said:
happens', but the salesman I bought my car through said that he sold a car to a woman,
she picked it up and drove it out of the car park and got hit by a lorry and wrote off her brand new car
- unlucky !!!

So it has given me a bit of a reality check
Hi RedMax, IMHO it's a bit of tosh...you don't hear the salesman say
.."We sold a car last week and it had a dodgy gearbox, we couldn"t fix it but luckily the customer had bought CRAP insurance
So they could claim cos we"re useless etc etc"...

IMHO just another way for a salesmen to earn commission (you buy insurance from an insurance company not a car salesman)

If you write off your car say after a year, I thought that the point of insurace was that you'd receive the money upto
The value of your car, but you might have to find a year old car (for instance) which would be chepaer anyway?

Read through the GAP posts there are things you can include or consider in your current policies to cover this.
Edited by: HugaKuga
 

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When I bought my Nissan Juke from Evans Halshaw, they tried to phone me almost 20 times (Im not kidding).
I tried phoning them back but the call wasnt answered. I was beginning to panic. was there a problem with my car? Eventually, after about 6 weeks they got hold of me.

It was to try and sell me Gap insurance. W£nkers. I gave the woman a right mouthful - she wasnt happy!

Needless to say, they didnt ring me when I bought my Kuga!



Gap was discussed at length on the Juke forums. I think the general opinion was that its certainly a good idea for some people. However, for those that want it, you can buy it online for 1/2 the price that your salesman will charge. Conning gits!!



Two things that I despise about buying a car - 1. when they try to sell you Gap insurance and2. they try to sell you Supagard treatment!!!




Andy
 

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A very good friend of mine has been in the "specialist auto trade insurance" business for many years.I asked him the very same question and his "honest" reply was that GAP was about the only type of additional insurance/warranty worth getting. Here is the thing though, yes the salesman makes good commision from selling the product however there is a LOT of movement from the 1st price they offer, they actually buy the product forvery little. So....whatever price they offer lets say £400 then offer to pay £300 some profit is better than no profit from there point of view.Like any insurance cover your only glad you parted with the money when you need it.

PS- I payed £300 for my "Total" GAP insurancein sept 09 Edited by: ips
 

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Discussion Starter #28
I agree with IPS re GAP insurance - it depends on the value of the car and on the type of financing you have taken of course, but the more expensive the car, the more likely it is that there will be a "gap" between the amount owing to the finance company and the value of the car paid out by the insurance company - the time most affected is the first 2 years or so after purchase. BMW do a "staggered" GAP policy which covers 1, 2 or more years depending on your choice and which is good value if you want to guard against the possibility of a total loss and having to fund the "GAP" yourself. Paying say £300 over the lifetime of the finance agreement on your car is small change compared to having to find the "missing" £5K -££15k or more (depends on the car of course, and your finance arrangement). It is not quite so desirable for cheaper cars, though, and I think it is here where it is missold / pushed the most by eager sales people.
 

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Discussion Starter #29
I was offerred GAP insurance when i bought my car in 2009 by the dealer. Had never heard of it before so agreed to have it at a cost of £499 if I remember right. Got home and googled it and found out there are varying levels of cover.


Onepays out the difference between what you paid forthe car and what the insurance company pay out. This is what the dealer sold me.



The other cover pays out the difference between what the insurance company pays out, and what it would cost to buy a new model of the same spec.



I cancelled the original policy after 3 days and for which the dealership tried to charge me an admin fee of £75 for.reminded them of the 14 day cancellation policy andmentioned the FSA etc and got all my money back. Then signed up with an independant broker for 3 yrs GAP insurancewith the top rate of cover for £249.They also didn't start the policy for 12 months because my car insurancewas a new for old policy.



Hope this helps
 

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Don't forget some car insurance companies include a 'new car' section which essentially pays enough out for a replacement.
 

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Good post Dr Rob,
Everyone should check here first before talking to a dealer
 

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Why do these insurance companies say protect your investment, when did buying a car become an investment
 

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GAP is a huge money maker for dealers. They can sometimes end up making more money from selling you GAP than the car! Hence why they push to sell it so hard.


I'm sure when I worked for dealers it only cost them around £100 maybe less.
 

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Hey,

Declined the dealers GAP insurance when we purchased our car, thought it was way to expensive. Trying to shop around and see what comes up.

Whats your thoughts? Have you got GAP? Any recommendations on insurers would be welcome.

 

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capainkevey said:
hi kugajedi i used http://www.surfandprotect.com. if you find a cheaper quote than they offer £5.00 discount on the cheapest price you have been quoted ,i chose surfandprotect.com. because they are backed by axa awell knowen insurance underwriter.





Actaully this company is super cheap, Just had an online quote and for less than £100, that money well spent IMO.
 

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Sorry all if there is a post on this already but I am new to this and couldn't see the search function.

Anyways, I am wanting to take Gap insurance for my new Kuga Tit X and was going to take this out via ford themselves. I have since howveer read that this is expensive and can be done cheaper elsewhere.

Can anyone recommend an insurer who will provide suitable cover for the invoiced amount of the car.
 

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We were asked about this from the dealer when we collected. We said we wouldn't, given a dealer quoted us over £400 the last time we bought a new Ford in 2006. Things have changed... we got ours for our TitXSport for £150.
 
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