[joy5]

Hello All !

Some of you recommend to get a GAP Insurance (Shortfall Insurance) on the new car. As I never had one before, I would appreciate your expert advise. Some have already shared some views - thanks for that.

There are several companies providing this, but not sure which provider/underwriter is best. Also, there are a few type of GAPI, which one to choose/best fit for a new car.

My BMW dealer is offering me £10,000/3 Years for £249, which is massively beaten by online quotes, like ala.co.uk £20,000/4 Years £248.90 + 25% Cashback if you go via quidco.com (use discount code 4196JH)

Still I am not sure which cover of these?

- Finance GAP
- Return to Invoice GAP
- Vehicle Replacement GAP

What exactly different on each of these?

My situation is;
- On a 4 year PCP
- £6,500 deposit
- Tesco Car Insurance

If anyone ever had a write-off, what was your experience when claiming?

Many thanks in advance.

[LuvMyE92]

Good idea. Here in the colonies gap insurance is less common, although it is included (at no charge) on a lease from BMW FS.

In this country over the past few years, there have been a rash of small insurance companies that write repair warranties for cars going out of business. With the economy in the crapper, yes, even in Scotland, I'd suggest going with a large reputable company first and foremost. Then decide which coverage is best for you based on the size of your down payment and comfort level.