Gap insurance on a GTS
Discussion
Always seems a bit daft to me. I paid a little under £50k for a new Cayman 2.0 base model in late 2021. Dealer sold it for £53k about 18 months later. Made me think that had there been any gap insurance, they should have been paying me. I decided against on the new GTS 4.0 that replaced it too, and it might come back and bite me, but over the last 3 or 4 new cars, I think I'll still be doing better than having paid for the insurance.
Liam
Liam
As others have said it depends on how you have financed it, and your attitude to risk.
I used ALA Gap Insurance. Their website gives a simple explanation and has a quote calculator which doesn't require you to give your full family history/blood type.
My reasoning, based on an outright purchase, was that list price was increasing significantly and with production coming to a halt getting a new replacement is likely to be impossible. Hence the Vehicle Replacement policy is a great deal.
Your primary insurer won't offer a policy up to 4 years.
A 4 year policy on an £80k list is around £1k, up significantly from the £600 I paid, but with no more production then a claim could be a significant sum. We don't know how much the new 718 replacement will cost which has a bearing.
I used ALA Gap Insurance. Their website gives a simple explanation and has a quote calculator which doesn't require you to give your full family history/blood type.
My reasoning, based on an outright purchase, was that list price was increasing significantly and with production coming to a halt getting a new replacement is likely to be impossible. Hence the Vehicle Replacement policy is a great deal.
Your primary insurer won't offer a policy up to 4 years.
A 4 year policy on an £80k list is around £1k, up significantly from the £600 I paid, but with no more production then a claim could be a significant sum. We don't know how much the new 718 replacement will cost which has a bearing.
jay2000 said:
Hi guys,
Just got a brand new BGTS and wonder if it is worth getting a RTI gap insurance with the current used car price drop and issues with insurance. I know that i should ask the internet but do you all recommend one? Cheers
How are you finding the BGTS 4.0..awesome I hope Just got a brand new BGTS and wonder if it is worth getting a RTI gap insurance with the current used car price drop and issues with insurance. I know that i should ask the internet but do you all recommend one? Cheers
Yep. I have GAP on my CGTS4.0 from ALA. I also have insurance excess cover with them.
You only wish you had insurance when you really need it. I look at it as a safety net should something happen. If it doesn't then it's cost me a couple of hundred quid. Same goes for the extended warranty.
You only wish you had insurance when you really need it. I look at it as a safety net should something happen. If it doesn't then it's cost me a couple of hundred quid. Same goes for the extended warranty.
scrounger73 said:
Yep. I have GAP on my CGTS4.0 from ALA. I also have insurance excess cover with them.
You only wish you had insurance when you really need it. I look at it as a safety net should something happen. If it doesn't then it's cost me a couple of hundred quid. Same goes for the extended warranty.
You only wish you had insurance when you really need it. I look at it as a safety net should something happen. If it doesn't then it's cost me a couple of hundred quid. Same goes for the extended warranty.
Discombobulate said:
My insurer (NFU) offers full replacement value up to 12-24 months in the event of write off after purchasing a new car (depending on policy) so no need for GAP.
Porsche insurance will also replace with a new car of the same model and spec if less than 12 months old. They also do agreed value.JurassicGTS said:
Last May I paid £320 for a 4 year BTI GAP with ALA for my new BGTS 4.0. Use promo code MSE25.
I think it's worth £80 per year just for peace of mind and given how used car values are now falling.
I'd forgotten about the promo code! It makes the price I paid seem more in line with the current quotes.I think it's worth £80 per year just for peace of mind and given how used car values are now falling.
I bought the BGTS4.0 outright. Like a few have said, its only worth it if you claim. Of course, you wish you never have to claim so it is like hedging your bets.
The quote i got for 4 years is less than £450 RTI from directgap.co.uk so its really a way to cover against depreciation. But only if i write it off.
The quote i got for 4 years is less than £450 RTI from directgap.co.uk so its really a way to cover against depreciation. But only if i write it off.
jay2000 said:
I bought the BGTS4.0 outright. Like a few have said, its only worth it if you claim. Of course, you wish you never have to claim so it is like hedging your bets.
The quote i got for 4 years is less than £450 RTI from directgap.co.uk so its really a way to cover against depreciation. But only if i write it off.
Try getting a quote from ALA with promo code MSE25.The quote i got for 4 years is less than £450 RTI from directgap.co.uk so its really a way to cover against depreciation. But only if i write it off.
ALA are well known on most forums.
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