Gap Insurance

[derrynoose]

I have recently purchased a second -hand car and when insuring it was asked if I was interested in a further premium which would "Protect" the value of the vehicle at the price I paid for it, if the vehicle were to be written off or stolen within the next three years. The Company called it "Gap Insurance". Should I consider this option? The premium for three years would cost approximately 65% of the premium which I am paying for one year's Comprehensive cover on the vehicle. Thanks.

[danchip]

if your taking finance on the car then it is a good idea, if it is wrote off or stolen and not recovered then the gap insurance covers the difference between how much your insurers pay out and how much you owe in finance on it!

[ladybird49]

It was on the telly a couple of months ago about gap insurance and some people had nightmare issues with it , google and read then decide , good luck