LoFi

Has anyone explaored or had experience of the above. Seems to work as follows : pay one premium covers car for 3 years. Car gets wirtten off or declared a loss, insurance company pay say £12000 but you paid £20000. GAP insurance pays up the difference, in this case £8000. They also refund up to £250 excess. This was offered by my Subaru dealer as I have just purchased a new WRX. Seems a good idea so I must be missing something - the one off premium is just under £500.

RobScreene

LoFi,
I took out this when I bought my MY97 a few years ago. Very similar figures to what you have there.

It looked like a no brainer. I'm quite surprised but it hasn't been touched (touch wood), especially as it was parked on the road in the centre of town for the first year. GAP cover made the thought of theft of the car almost appealing.

I thought to be careful NOT to combine this with a Tracker type GPS recovery system, or you'll have a much better chance of getting it back, broken window/locks/ engine/clutch/gearbox and-all and no chance to claim on the GAP cover for a new one.

regards,
Rob.

LoFi

thanks for that - it does sound like a good idea. Good point about having a tracking device fitted - I have specified one already. I guess it's swings and roundabouts, need the tracker to reduce premium but getting the car back if it gets stolen when you have this GAP almost seems like a bad idea. The leaflet mentions exemptions, do you know what these are?