Morning all,

     Having just put a deposit down on a new car, I'm looking into the option of taking out some insurance... but probably not through the dealer as it looks like I can get it far cheaper online. Has anyone done theres online and got anyone they can recommend?

Hi.

Just to let you know that we offer a product called Total Loss Protection. Whilst it's not exactly the same as your traditional GAP insurance we feel for some clients it can make a cost effective alternative.

Please feel free to take a look if you wish.

https://www.adrianflux.co.uk/extras/total-loss/

Regards,

Dan.

GAP insurance is pretty much a must have on any new car (well other than if you're renting it). If you get the right level of cover and you write the car off within 3 years, you'll get paid the exact amount you paid for the car. You can imagine what some people do haha.

So Adrian Flux's 'GAP' insurance only makes up 25%, so if you write it off in the first week then you'll lose out on a whole load of money.

Many car insurance policies offer "new for old" replacement of a brand new car during the first 12 months, so worth checking this before considering extra insurance such as GAP, to avoid effectively paying twice in year 1.

There are many variations of "GAP" cover on offer e.g. some will make up the difference between the current value of your car and what you paid for it, some will cover the difference between current value of your car and the current cost of a new one, and so on.

There are some quite helpful online guides to the different types of cover which are worth a look before shopping around, e.g. www.which.co.uk, www.moneyadviceservice.org.uk, www.moneysavingexpert.com.

It is also of interest that the Financial Conduct Authority found that the claims ratio for GAP insurance was 10% (for every £100 of premiums, £10 was paid out - on general car insurance the ratio is around 75%), so GAP insurance seems to be pretty profitable for providers.

 Sound advice and facts there guys, thankyou:-)

 

    (Going to have a read on those sites later, thanks Eric)