J4CKO

iTrader: (1)

We have reseverved a new car for the wife, a six month old Galaxy, the dealers have offered us GAP insurance for £349 which covers the deficit between what it cost and what it is worth say in a years time if it gets written off, has anybody had any experience of this ?

Also, DiamondBrite, is that basically paying to have some pixie dust sprinkled on it, with my kids, steel plating the interior would be the only effective method of protecting it.

nik52wrx

I have taken it out twice in the past at 300 quid a shot and never needed to use it so i wont be bothering again, i'll take a chance
As i have never claimed i can't comment on how easy it is to use when required. If like most other forms of insurance it will be pain no doubt.
End of the day its up to you as its your 300 quid your spending.
Nik.

ScoobyWeb

Diamondbright is a paintwork protector, an alternative to supagard. Gap insurance, well some say its worth it some not. I have had it on my previous 3 cars but never needed it so I didn't bother with the Subaru.


Chris.

pacenote

Google Gap Insurance - should be able to get it alot cheaper than that from a Broker

zip106

Diamondbrite/Supaguard, shouldn't have to pay more than £100 for it.
Dealers usually charge £300 but a good car valeting company can do it.
The wifes car has got it on (company car) and I can tell the difference when I wash it.

dynamix

iTrader: (3)

Gap Insurance is a complete waste of money. I used to work for the underwriters of one of the largest schemes in the uk.

Out of every £1 in premium 98p goes to the supplier in commission. Some of that ends up with the person that sells it.

Of the thousands of policies we sold, I can only remember 1 claim as most car insurance covers this anyway if you look closely.

MrRA

I took out Gap insurance when I purchased an ST170 a few years ago. The car ended up being stolen. Main insurance policy offered me a settlement that was approx. £2k short of the full value of the car. Gap insurance covered the rest and the claim with that was so easy when compared to dealing with my main insurer. The Gap insurance policy cost me just over £300 and was money well spent IMO. I can't remember who the underwriters were for it as it was offered to me at the Ford dealership when I purchased the car.

J4CKO

iTrader: (1)

Cheers, will check out the existing policy, mixed messages, part of me says sod it, £349 quid, I suppose if we bin it enough to write it off, the car and money would be the least of my worries, if it gets nicked and we get paid out, we have to buy a same age one, so no worse off really.

My missus is an insurance fiend, everything has to be insured and then she tells me not to claim when she drops the laptop ?

speedking

... if you expect 1 in 7 new cars to be written off The high value of a new car means it is much less likely to be written off in an accident.

I believe that GAP covers your purchase cost, so if the equivalent car has gone up in value there may still be a shortfall

Insurers normally will replace with a new car during the first year anyway.

Insurance companies are not charities. they will always take in more than they pay out (except Lloyds). Consider that on average (no admin, no middleman, no overheads to fund) you would be better off putting the premium into a high interest account for the rainy day. Do that for all your non-essential insurances and save a fortune

scoob_babe

Ours covers the shortfall between its current price and what we paid for it.
Wish we'd had it on the scoob since we lost half the value of it when it got written off when it was just 2 yrs old

robby

Diamond Brite can be bought off ebay for around £10 - usually less

The full kit includes scotch guard spray for the interior as well

I've used it on several cars in the past and it was ok but doesn't stop dings, scratches, etc

Dealers charge anywhere from £200 to £500 (applied) but you can do it yourself in a couple of hours (inc stage 1+2 drying time)

apples24

iTrader: (1)

insurers will not cover interest on a financed car so basicly gap insurance coveres this, well worth having but sounds dear to be honest

ian_sadler

Wish I'd had gap insurance when my Terzo got nicked a few years back.

20k when new, three years finance, stolen two years later and the insurance paid out 10k

ian_sadler

p.s stuff the diamond biight and get a good valeter

what would scooby do

Galaxy would be worth about 10p after a year so must be damned good gap insuarance

J4CKO

iTrader: (1)

Not like those depreciation proof Scoobs then, you go and have a scan for year old Galaxies and see if you can get one for under 15 grand. The thing is, just because you dont want one, it doesnt mean nobody else does, I dont want one, its just that we have to have one with three kids.

We have just sold our Sharan after 5 years and Three months for 8 grand, it cost 19 new so we have lost 11k in that time, so 2 and a bit grand per year, not that disastrous really.

Diesel people carriers always sell well, admittedly, of the six calls we have had, five have been Asian people offering us 2 grand under the asking price over the phone, it does make me sound racist (is not, its an observation) but you know the minute you answer the phone they will make a silly offer and lose interest when you dont bite ?

noobyscooby

Go on line for GAP insurance [back to invoice]. Mine cost £99 for two years on a car worth £25K.

The garages make more money out of GAP, £150 min. Diamond Brite, £200 min, and finance, up to £400 or more, than the bluddy car.

I thought everyone knew this by now!

J4CKO

iTrader: (1)

Cheers, looks like I can get it for £150, DiamondBrite, nah, its like the Gold plated Scart cables from Comet at 90 quid otherwise your new telly will look crap