Gap insurance on a GTS - Page 2 - Boxster/Cayman - PistonHeads UK

Hi guys, Just got a brand new BGTS and wonder if it is worth getting a RTI gap insurance with the current used car price drop and issues with insurance. I know that i should ask the internet but do you all recommend one? Cheers

Kind of depends how you paid for it. If outright hell yes, if PCP (and likely to stay on PCP for your planned ownership term) hell no.

Always seems a bit daft to me. I paid a little under £50k for a new Cayman 2.0 base model in late 2021. Dealer sold it for £53k about 18 months later. Made me think that had there been any gap insurance, they should have been paying me. I decided against on the new GTS 4.0 that replaced it too, and it might come back and bite me, but over the last 3 or 4 new cars, I think I'll still be doing better than having paid for the insurance. Liam

For the price of cover, I think it’s worth it. At the end of the day, it’s piece of mind and as you say, if the insurance company carrying the primary insurance tries to lowball you in the event of a total loss claim then at least you have a fall back.

My insurer (NFU) offers full replacement value up to 12-24 months in the event of write off after purchasing a new car (depending on policy) so no need for GAP.

As others have said it depends on how you have financed it, and your attitude to risk. I used ALA Gap Insurance . Their website gives a simple explanation and has a quote calculator which doesn't require you to give your full family history/blood type. My reasoning, based on an outright purchase, was that list price was increasing significantly and with production coming to a halt getting a new replacement is likely to be impossible. Hence the Vehicle Replacement policy is a great deal. Your primary insurer won't offer a policy up to 4 years. A 4 year policy on an £80k list is around £1k, up significantly from the £600 I paid, but with no more production then a claim could be a significant sum. We don't know how much the new 718 replacement will cost which has a bearing.

For the price of cover, I think it’s worth it. At the end of the day, it’s piece of mind and as you say, if the insurance company carrying the primary insurance tries to lowball you in the event of a total loss claim then at least you have a fall back.

I got gap insurance on Motorway, just peace of mind really.

Fnumber1user said: Kind of depends how you paid for it. If outright hell yes, if PCP (and likely to stay on PCP for your planned ownership term) hell no. In what way does the payment method make a difference to purchasing a GAP policy or not?

Last May I paid £320 for a 4 year BTI GAP with ALA for my new BGTS 4.0. Use promo code MSE25. I think it's worth £80 per year just for peace of mind and given how used car values are now falling.

jay2000 said: Hi guys, Just got a brand new BGTS and wonder if it is worth getting a RTI gap insurance with the current used car price drop and issues with insurance. I know that i should ask the internet but do you all recommend one? Cheers How are you finding the BGTS 4.0..awesome I hope

Yep. I have GAP on my CGTS4.0 from ALA. I also have insurance excess cover with them. You only wish you had insurance when you really need it. I look at it as a safety net should something happen. If it doesn't then it's cost me a couple of hundred quid. Same goes for the extended warranty.

scrounger73 said: Yep. I have GAP on my CGTS4.0 from ALA. I also have insurance excess cover with them. You only wish you had insurance when you really need it. I look at it as a safety net should something happen. If it doesn't then it's cost me a couple of hundred quid. Same goes for the extended warranty.

Discombobulate said: My insurer (NFU) offers full replacement value up to 12-24 months in the event of write off after purchasing a new car (depending on policy) so no need for GAP. Porsche insurance will also replace with a new car of the same model and spec if less than 12 months old. They also do agreed value.

JurassicGTS said: Last May I paid £320 for a 4 year BTI GAP with ALA for my new BGTS 4.0. Use promo code MSE25. I think it's worth £80 per year just for peace of mind and given how used car values are now falling. I'd forgotten about the promo code! It makes the price I paid seem more in line with the current quotes.

I bought the BGTS4.0 outright. Like a few have said, its only worth it if you claim. Of course, you wish you never have to claim so it is like hedging your bets. The quote i got for 4 years is less than £450 RTI from directgap.co.uk so its really a way to cover against depreciation. But only if i write it off.

Still sitting on fence.

jay2000 said: I bought the BGTS4.0 outright. Like a few have said, its only worth it if you claim. Of course, you wish you never have to claim so it is like hedging your bets. The quote i got for 4 years is less than £450 RTI from directgap.co.uk so its really a way to cover against depreciation. But only if i write it off. Try getting a quote from ALA with promo code MSE25. ALA are well known on most forums.

Just don't buy GAP from the dealership.

scrounger73 said: Just don't buy GAP from the dealership. ^^THIS^^

My Cayman 718 is used but on new cars I’ve bought third party gap policies to cover the difference between insurance payout and invoice value should I have an accident. Luckily I have never needed to claim on it. Edited by Hol on Tuesday 9th January 18:18

So called ‘return to invoice’ policies seem so popular but are less effective in times of rising prices. Consider new car replacement GAP as that will pay the difference between the insurance pay out and the cost of an identical replacement vehicle. My current gap policy is unusual inasmuch as it pays out 25% of the insurance settlement up to a maximum of £10k.

Swine Enthusiast said: I got gap insurance on Motorway, just peace of mind really. What if you write it off on another type of road?

jay2000 said: Still sitting on fence. Just don't leave it too long. You should look at a Replacement Policy imo. I've just had a re-read of my policy documents. My 4 year Repacement car policy cost £650. The policy pays out £500 of my insurance excess in the event of a total loss, which in my head makes it pay for itself. It also covers up to £50k to cover the gap between replacement costs (of a new car) and my insurer's payout. This is the important bit. If in 3 years it is a total loss then the gap could be signficant, the 718 will be out of production so after digging in the policy it would be based on the 718's replacement costs. That could easily be a figure in the 10-25k range?