GAP Insurance

[Nocturne_sa]

I'm looking to sort out GAP insurance for the car. Had a look at a couple websites including ALA (which was recommended by a friend). Was wondering if anyone had any experience with these guys?

I'm looking at their back to invoice+ policy. Will it cover the short fall between the insurance pay out and invoice price/amount owed to finance company (which ever it higher)?

Also, does the 'owed to finance company' amount include the optional final balloon payment?

Is there anything I need to look out for?

Thanks!

 

[Dandle]

GAP insurance really depends on what car you buying and the price of the car as to if its worth having(most of the time its only worth it on a new car that is pretty expensive anyway IMO). I've found www.directgap.co.uk to be very competitive for price and most GAP policies are backed by Hitachi Finance anyway.

 

[stoofa]

GAP insurance really depends on what car you buying and the price of the car as to if its worth having(most of the time its only worth it on a new car that is pretty expensive anyway IMO). I've found www.directgap.co.uk to be very competitive for price and most GAP policies are backed by Hitachi Finance anyway.

It totally depends on what kind of GAP insurance and anything "quite new" will benefit.
I have "Back Invoice" GAP insurance on my Octy vRS.
Should my car be written off over the 3 years I have the insurance then once the main insurance has paid up the GAP will top this amount up to what I actually paid for the vehicle.

With the value of cars dropping each year - even cars of 5 years old and older could benefit from having GAP.
Sure it's a gamble (like any insurance) but premiums are lower on older cars to the point of "pocket money".