Gap insurance

[nozzer]

Hi,

Looking for opinion/advice on Gap insurance. About to pick up my new Taycan in the next week, and expecting the usual conversation on items such as gap insurance. Despite being sceptical in the past, with cheaper cars I have purchased gap insurance independently from the dealer as I’ve always found a more competitive quote elsewhere, but in this case, with a car tipping 100k plus, options are fewer and considerably more expensive.

Question is, are people buying gap insurance and if so where from. Appreciate its down to risk appetite and opinion in the end, but interested to know.

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[Browning]

NFU has it as part of car insurance policy maybe others do as well

 

[gusone]

Like all discretionary consumer insurance it is a matter of personal opinion. I have always turned down warranty extensions / insurance for small ticket stuff. But, I have taken it out for my last 2 new cars and an Omega. You might want to consider the Porsche Tracker so you get the car back and an Elite Steering stop lock.

 

[gdavison]

I actually went the other way on my last Cayenne and turned down tracker but still took GAP (historically I had done both on all my cars) .. This was after a conversation with the OPC sales guy . He commented that in his opinion "Tracker is for the insurance company benefit, you pay £250+ every year so they dont have to pay out if the car is stolen and you get the car back after couple kids have hooned it around Asda's car park, or if stolen by a pro thief, they will pull the tracker in seconds, have the car in a container in 30 mins and on a ship to Russia next day for parts.. so what did tracker do for you then ? .... where as GAP for £200 for 3 years covers you for all loss's such as theft, crash etc for 3 years" Intersting view which I countered with "I'll not get Insurance without tracker as all companies insist on it".. He hinted a call to Admiral may prove I was incorrect .. and I was ... I moved the new Cayenne, Boxster GTS and the Smart EV to Admiral on a multicar policy for less than A-Plan was quoting for the Cayenne.. So will do same when TCT arrives in the future

However as others have said above.. its your choice re taking tracker and/Or GAP and who you insure with etc as such the above is at best a personal story and not advice

 

[AlexR]

I used ALA for Gap previously, but was "only" £475 for the Taycan. The dealer had been excellent so I thought why not.

 

[kl98cwg]

I recommend you check with your standard motor insurance provider as they may well include some cover when the car is brand new - my insurance with DirectLine did for the first year, so I then waited until the car was nearly a year old and took out specific gap insurance (with ALA) for a further three years. The gap insurance had to be taken out before the car was a year old and the cost was £300 with a discount code from moneysavingexpert.com.

 

[gusone]

I actually went the other way on my last Cayenne and turned down tracker but still took GAP (historically I had done both on all my cars) .. This was after a conversation with the OPC sales guy . He commented that in his opinion "Tracker is for the insurance company benefit, you pay £250+ every year so they dont have to pay out if the car is stolen and you get the car back after couple kids have hooned it around Asda's car park, or if stolen by a pro thief, they will pull the tracker in seconds, have the car in a container in 30 mins and on a ship to Russia next day for parts.. so what did tracker do for you then ? .... where as GAP for £200 for 3 years covers you for all loss's such as theft, crash etc for 3 years" Intersting view which I countered with "I'll not get Insurance without tracker as all companies insist on it".. He hinted a call to Admiral may prove I was incorrect .. and I was ... I moved the new Cayenne, Boxster GTS and the Smart EV to Admiral on a multicar policy for less than A-Plan was quoting for the Cayenne.. So will do same when TCT arrives in the future

However as others have said above.. its your choice re taking tracker and/Or GAP and who you insure with etc as such the above is at best a personal story and not advice

Totally agree. However, my decision to get the tracker post delivery was purely based on the current 70 week waiting list. Let the kids have their fun. Bit of smart paint work and alloy repair and a fumigation and it's as good as new.

Btw, the car won't get very far without the tracker fob. They call, check why the car is moving without the tracker fob, call the rozzers and disable the car. So unless the Russians mug you and take the tracker fob Putin is out of luck.

 

[BigBob]

I recommend you check with your standard motor insurance provider as they may well include some cover when the car is brand new - my insurance with DirectLine did for the first year, so I then waited until the car was nearly a year old and took out specific gap insurance (with ALA) for a further three years. The gap insurance had to be taken out before the car was a year old and the cost was very reasonable with a discount code from moneysavingexpert.com.

I took GAP with ALA as well. I hadn't spotted the 1st year coverage by my insurer until after i'd bought the GAP policy (doh).
None of the insurers I called would even consider insurance without the tracker being fitted.

 

[Shaun C]

Check with your insurer most insurance companies include gap insurance for all brand new cars in their first year !!!
Dealers know this but still try to sell you GAP insurance when you've probably already got it.

 

[nozzer]

I recommend you check with your standard motor insurance provider as they may well include some cover when the car is brand new - my insurance with DirectLine did for the first year, so I then waited until the car was nearly a year old and took out specific gap insurance (with ALA) for a further three years. The gap insurance had to be taken out before the car was a year old and the cost was £300 with a discount code from moneysavingexpert.com.

Hi, thanks. I checked and yes my current policy appears to cover the first 12 months. On that basis I’ll follow your example, as no point duplicating on coverage at this point.

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