ChatterBank0 min ago
Gap Insurance
A friend is about to purchase a three year old hatchback from a local main car dealer. The price is in the region of £11k to £12k, with approx 24,000 miles on the clock. The car's bodywork is in good condition and has a full service history, having been serviced from new by the main dealer.
The question is, would you advise her taking out GAP insurance at a cost of £350 for two years cover?
The question is, would you advise her taking out GAP insurance at a cost of £350 for two years cover?
Answers
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No best answer has yet been selected by wiltsman. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Gap insurance is just another rip-off from the insurance industry, which is a win-win for them. They value your car at less than you paid for it, and offer you the option to pay an additional fee to cover them paying you the market rate for the vehicle.
You have to ask yourself, why are all these car buyers paying over the odds for their vehicle or is the insurance industry just ripping off punters?
You have to ask yourself, why are all these car buyers paying over the odds for their vehicle or is the insurance industry just ripping off punters?