Thread: GAP Insurance
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      11-22-2012, 07:53 AM   #1
MarkW83
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Drives: F30 330d M Sport
Join Date: Nov 2012
Location: UK

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GAP Insurance

Hi guys,

After some advice on GAP Insurance if anyone has experience!

I've never bothered with it before, but if the car was to be written off it would be a bit of a financial nightmare, so I'm thinking of getting it this time. The online places (rather than BMW themselves) seem the best value, as to be expected, though I may see if BMW will match or get close to their prices.

The car is just shy of 45,000; and I'm well aware that probably 10k will be wiped off that as soon as I drive it out of the showroom. With the car being on a 4-year PCP, the shortfall from an insurance pay-out for its market value at the time - vs invoice and/or finance settlement - could be substantial.

For return to invoice, I've had a quote so for of 289 for the full 4 years. 2 years is 186.

I'm thinking of getting the 2 years cover; reasoning being that a large proportion of the value will be wiped off in year one as soon as it's "not new", and after 2 years (halfway through the term), I will have paid a lot of the finance off, so any shortfall will hopefully be minimal, rather than catastrophic as it would be in year 1 certainly, and also perhaps in year 2.

Does all that sound like a good plan, or would I be better getting it for 3 or 4 years instead?

Any help appreciated
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