New Car insurance - gap insurance

[Mudball]

Looking at a brand new wheels. The dealership pushing gap insurance and ‘minor dents and paints’ insurance. Any good?

I haven’t taken a gap insurance in about 20 years. Last time around I thought it was pointless. Narrative was ‘you have to ensure that you don’t lose value of your 30k investment’. Looks like it has not changed since then

The ‘minor dent and paints’ seems new. Apparently they will repair small shop and scratches without going to regular insurance. About 400 quid for 3k worth of insurance over 3 years. Anyone know anything??

 

[SwingsitlikeHogan]

Looking at a brand new wheels. The dealership pushing gap insurance and ‘minor dents and paints’ insurance. Any good?

I haven’t taken a gap insurance in about 20 years. Last time around I thought it was pointless. Narrative was ‘you have to ensure that you don’t lose value of your 30k investment’. Looks like it has not changed since then

The ‘minor dent and paints’ seems new. Apparently they will repair small shop and scratches without going to regular insurance. About 400 quid for 3k worth of insurance over 3 years. Anyone know anything??

We recently took it out for the car bought for our son to use. Bodywork is really good condition and the nature of his work and the places he works means that he is day and night squeezing into tight spaces with other vehicles, and small dunts and scratches are quite likely. May or may not be money well spent, but for our peace of mind we are happy it’s spent. Hopefully we’ll never have to claim on it…but thinking even for wheel trims damage we will at some point.

 

[PJ87]

Shop around for gap insurance

Prob triple price now but my last 2 gaps cost under £150 each

I did because PCP and lease. Protecting me if the car got written off and I owed them money

 

[spongebob59]

Check out a company called ALA, much cheaper than dealership

 

[GreiginFife]

Another vote for ALA. Use them for both cars.

There are two types, make sure you opt for return to invoice. This pays you back the difference to what the car’s purchase price was rather than the outstanding finance.

It’s marginally more expensive but worth it as it can give you extra to put down on a replacement.

 

[KenL]

I have gap on mine. Bought for about £125 rather than the £400 the dealer would have taken.

 

[Mudball]

Another vote for ALA. Use them for both cars.

There are two types, make sure you opt for return to invoice. This pays you back the difference to what the car’s purchase price was rather than the outstanding finance.

It’s marginally more expensive but worth it as it can give you extra to put down on a replacement.

BMW currently quoting 800 for gap.. that’s more than 3 months of PCP!!

Chip and dent is 450..

 

[Bunkermagnet]

I've used GapInsuance.co.k. All my family have used them now.
Excellent value, and service.

 

[Dando]

The dealers get about 40% commission on gap insurance so go online and get it

 

[GreiginFife]

BMW currently quoting 800 for gap.. that’s more than 3 months of PCP!!

Chip and dent is 450..

I’ve got gap from ALA on my 840 (£330) and my M340 (£310) both return to invoice.

 

[spongebob59]

Worth also noting ALA do a 5 year gap rather than the 3 routinely offered at dealership

 

[jim8flog]

As per bunkermagnet I use

gapinsurance.co.uk

(5* ratings on Trust pilot and feefo)
They were about half the cost of car dealer
If you sell the car and have not claimed you can get a refund of the unexpired portion of the policy.
They also gave me and additional 5% discount as a returning customer

 

[GreiginFife]

On the back of this I had a read through the ALA policy T&C and turns out my M340 is no longer covered by the policy due to the modifications.

Seems sensible to be fair. And it only had 6 months cover left anyways.