Gap Insurance

mgf · Post by **mgf** » Fri Aug 10, 2007 10:49 pm

Has anyone taken Gap insurance - is it worth it?

Baggy · Post by **Baggy** » Fri Aug 10, 2007 11:24 pm

yes(not on the elise)....probably not...

would I get it again?

probably

gorrie · Post by **gorrie** » Sat Aug 11, 2007 10:56 am

Never taken it... the way I looked at it was that if you are getting market value (or close) in the event of a write off, then thats enough to get you back in a simlarly aged/spec car.

I wouldn't expect to sell a car after 2yrs and get the new price back for it... so I don't see the point in GAP. I can understand why some people would want it... if putting a low deposit down and taking HP...

Andy.

dezzy · Post by **dezzy** » Sat Aug 11, 2007 11:18 am

I've never bothered with it. My car has recently just been written off and while I'm still haggling with the insurance company for a better settlement nearer what I think the market value is, even their opening offer is more than what I have left to pay on my finance.

Generally, with our cars, I don't think its market value will go down faster than your finance payments.

Cheers,
D

ExigeKen · Post by **ExigeKen** » Sun Aug 12, 2007 1:33 am

Yes I took it.

Is it worth it probably only if your car is written off - its a bit like most insurance really i.e. a gamble.