GAP Insurance on New car

[Ballybrone]

Just picked up a new car and dealer was trying to sell me GAP insurance policy or return to invoice price insurance for €399 for 3 years cover. My insurance covers new car replacement for the first year ,car was not bought on finance or PCP .Im sure the dealer is getting good comission on this policy so wondering has anyone managed to buy this cover themselves from an insurance company .Basically it covers any short fall of vehicle write off ,basicall the difference between the book valve and the purchase price .

 

[vandriver]

Every insurance policy is worth it,if you get a payout!
But.....how many write off situations would you expect in a lifetimes driving?
I am heading towards 1.5 million miles in my driving career and have had one car written off.

 

[peteb]

Just picked up a new car and dealer was trying to sell me GAP insurance policy or return to invoice price insurance for €399 for 3 years cover. My insurance covers new car replacement for the first year ,car was not bought on finance or PCP .Im sure the dealer is getting good comission on this policy so wondering has anyone managed to buy this cover themselves from an insurance company .Basically it covers any short fall of vehicle write off ,basicall the difference between the book valve and the purchase price .

i was offered this as well. As far i was concerned it suited the dealer to sell it to you if you were on PCP or HP as there was a good chance they end up getting the car back. But I'm happy for the insurance company to put me back in something of the same mileage and spec and so the difference in what i bought it for versus what i end up with doensn't matter. Its a depreciating asset anyway.