GAP insurance

[Revs1972]

Has anyone taken this out with VW directly ?
It’s £899 for 3 years. I’m buying the vehicle outright , so I don’t need it to “top up” a shortfall you might get when financing, but they sell it as if it gets written off / stolen then you get payed out the difference between what your insurance company pays out , and the retail price of a new one .
Has anyone ever had to use Gap insurance to get an increased payout. Do they decrease the payout to allow for the time you have used it ?
Thanks

 

[Ghostbuster]

I had gap insurance with ALA for one of my cars in the past and not pay dealership prices. By comparison It was inexpensive at the time.
I have just changed my car and priced it up again and was shocked to see how much more expensive it is now so I haven’t bothered and decided to take a risk.
I didn’t take it out on my California neither for the same reason.

 

[CaliforniaPhil]

In early 2023, I got VW gap insurance for the demonstrator we putmrchased, it was around £600. I also paid outright for it but I had never paid so much for a vehicle. So I was panicking a bit and relented to buy the extra insurance.

My understanding at the time was the same as yours, if the vehicle is stolen or written off, it bridges the gap between the insurance payout and the price of a new van. If it reduced there would be no point in taking it out. Most expensive cars loose shed loads of money, Californias hold their value so well, the insurance should be paying out a reasonable amount to replace your van for a similar aged one. Or am I being too nieve?

 

[WelshGas]

Has anyone taken this out with VW directly ?
It’s £899 for 3 years. I’m buying the vehicle outright , so I don’t need it to “top up” a shortfall you might get when financing, but they sell it as if it gets written off / stolen then you get payed out the difference between what your insurance company pays out , and the retail price of a new one .
Has anyone ever had to use Gap insurance to get an increased payout. Do they decrease the payout to allow for the time you have used it ?
Thanks

Some Campervan Insurance Policies have New for Old clauses.

 

[AdamsFamily]

As WelshGas says, check your Insurance first, some even include 2 years.
We contacted ALA (used before on a different car) when we got our Cali and they gave us a quote on a 4 year policy that kicked in after the first 12 months. £460