Ordered Q3 with a week 8 build date. Was offered GAP insurance when placing deposit for vehicle.It seemed expensive so I declined. I see that it is offered by other insurance companies - cheaper - and wonder if it is value for money.Appreciate your views. Thanks
I did take out the Gap insurance over our Q3 Sline and Yes it was on the pricey side, but they have now changed the format of cover. If you take out GAP for four years and sell the car in the period, you can now claim back part percentage of the initial payment. I had GAP on my previous Audi and when I came to sell it....I sold it on two months before our new Q3 arrived....I got back a large percentage of the initial cost. Yes it is pricey but the way I see it is....new car say £30,000.....write off after say two years and your insurance company pays out say £20,000....you go back into Audi to buy another new car, and GAP makes up the missing £10,000. All insurance is a gamble but my choice was to take it....hope this makes sense ? ps enjoy your car when it arrives....
My insurance pays for a new car if a write off in first two years. After that, in theory at least, you get the replacement cost and you go and buy a car of the same age with that money. Hoping for new for old at three years plus is optimistic. I can't see the point unless there's a possible finance purchase deficit issue,oryou have many £000's of options, whose market value and insurance pay out after leaving the forecourt at delivery mileage is more or less zero.
As I said previously, yes gap costs at the point of purchase, but in the gap plus I took out it covers the car for up to 48 months from date of purchase and pays out up to a maximum of £25,000 on a claim of a car purchased up to the value of £125,000. Yes it cost £495 for four years cover which on top of the purchase price of the car was an amount to think seriously about. Yes you are correct, the majority of insurers pay out on new for old in the first two years...mine does..but after that I felt the gap plus cost was worth the expense as if the car is lost, stolen or written off then gap plus will pay out the difference between what my insurer will pay out and the purchase price of the car when new. I accept your statement, but I would prefer not to simply go out and replace the car with a similar aged car , but to have the insurer figure plus the gap plus figure to allow me to get near the purchase price of a new replacement car. And remember, if you cancel gap plus you now get a percentage of the price back. I had a new Audi insured via gap and sold it three months into the agreement ...cost £469 for 48 months cover, unexpired term was 45 months and I received a refund of £404.69.
I decided that the Audi GAP insurance was too expensive. So I looked for alternatives on the internet. I printed out the ALA offer price for 4 years and showed it to my dealer. After some discussions, they met the price, so I went for the Audi GAP insurance.