I'm glad I skipped the gap insurance. When I bought mine, I was told the FSA required them to speak to me, and they then did the sales spiel for gap insurance etc. Mmmm. Mind you, the fact that there is a shortfall sounds like a scam. Surely insurance should put you in the position you were in before the accident.mogwai said:Looking at the ala.co.uk site even the Return to invoice product (which is better than GAP,as it covers the shortfall between the insurance and the cost of a brand new up) is only £137 for 3 years vs £399 the dealer wants to charge me for it.
But my insurance, in common with many other policies, provides an identical replacement new car in the first year, so what is the point in GAP insurance ?siannyd said:Basically if you crash yr UP! on the first day for instance and it cost you say £10,000, because you've driven off the forecourt it's then classed as used so yr normal insurance would cover it's used value- say £6,000 for arguments sake. So suddenly you've only got £6,000 to buy a £10,000 new car! CRISIS! so somebody invented gap insurance which means for £399 for 3yrs you fill that gap/shortfall in cost. So in this example you would claim on your normal insurance and get £6,000 then claim on the gap insurance and get £4,000 to fill the gap! Ta daaa brand new UP!
fingerscrossed we never need either!
Hope this helps
I wouldn't at that price, if it was all inhouse with VW Insurance running the whole thing it'd be fine but they're justa broker and finding the same deals we are and charging a standard 400 quidsiannyd said:£399 don't know if I'll take it yet
Doesn't all insurance work like that in a way. I wouldn't be happy if my insurance company gave me 6K for my 2 year old car and I'd have to buy a Kia Picanto!!RDA said:Remember the PPI scandal ? This is the latest version of the same scam.
These guys peddle FUD - Fear, uncertainty and doubt.