Gap Insurance Is It Worth It? - Page 1 - Porsche General - PistonHeads UK

Afternoon all Boring i know but interested in opinions please I recentley purchased a 991.2 GTS from Porsche and have been offered Gap insurance between 1-4 years Normally i'd dismiss it but this time round considering it because i'm likely to keep the car 2-3 years and it offers the peace of mind if the unthinkable happened i'd recieve the purchase price back haven't considered previously due to my previous 911's being fairly depreciation proof thoughts please Thanks Ric

There are different forms of GAP but I'd recommend buying separately from the dealer as there will be a large commission in the price & you can buy online. Im told you are best to buy a policy which pays to invoice price. If you sell the car before the end of the cover you can often get a refund on the remaining period. If you posed the question in the General Gassing section you might get a better response BTW.

Don’t forget that most comprehensive policies will replace a write off with a new car in first 12 months provided that you are the first registered keeper

MrC986 said: There are different forms of GAP but I'd recommend buying separately from the dealer as there will be a large commission in the price & you can buy online. Im told you are best to buy a policy which pays to invoice price. If you sell the car before the end of the cover you can often get a refund on the remaining period. No, you are better to get a policy that provides for the cost of a replacement new car. The invoice price of the current car may not be anywhere close the cost of a replacement new vehicle two years down the line with current inflation and discounts being all over the place.

Thanks Guys Appreciate the input

I'd also look at your insurance policy. Do they offer replacement car on a like for like basis anyway; and fair market value if you take a pay out? 991.2 GTS hold value well so it's not like a new car where the market value is 20% (VAT) less as soon as you drive off the forecourt. If you do go for GAP, all dealer prices are inflated compared to going to a specialist.

Have a look at ALA for GAP. I've used them for GAP on all my cars and they are very competitive. If you're unsure, their customer help line is pretty good at giving you advice.

Look at an agreed value policy insurance policy rather than a separate GAP policy. Will be more expensive than some but in my opinion you’ll get value in terms of the policy terms and god forbid if you have to claim it will almost certainly be an easier process. I’d love to know wha actually happens in a total loss event with a GAP policy. You’ve got two insurance companies involved, should be a straightforward process but in theory the insurance companies could have a s t fight about the respective pay out’s.

Thanks Guys

Which ever form of GAP you go for - I think I had/have return to original invoice value, just make sure you have GAP. In 2019 we had both our cars stolen a 14 month old S4 Avant and 2 yr old Q7. The GAP insurance paid out the difference of £9 & £15K respectively. If we hadn't had GAP, then I would have had to pay Audi finance the difference on the S4 and my wife would have lost all the money she'd put into the Q7 at purchase with her part-ex RR. All for simply having our insured cars stolen. I've taken GAP insurance on the two cars that we bought as replacements and wouldn't consider buying a new or high value used car without. Ever.

scrounger73 said: Have a look at ALA for GAP. I've used them for GAP on all my cars and they are very competitive. If you're unsure, their customer help line is pretty good at giving you advice. Me too - v happy with them

Also recommend ALA. just taken it out on a new MINI Cooper S for my wife. Online £240, rang up, 25% discount without asking. Excellent customer service