Mind the gap
- Thread starter glamdring
- Start date
john.newland
New member
Look very carefully at the terms of the policy. Is there a limit to what they will pay out in the event of a claim? Eg £20,000 max payout even if the insurance payout is £30,000 less than purchase price. A turbo that is about to be an out of date model is likely to depreciate heavily and fast! ( Still fun though!) Look at how the various values are calculated, they could make a big difference to possible payout sums. Look for exclusions, mine did not specifically exclude trackdays; but when I had a total loss on a trackday they argued I was racing and refused to pay. Off to the ombudsman, who a year later told them that if they wished to exclude trackdays it should have said so as they wrote the contract, so pay up! This to be fair they then did do. That was a GAP policy through the OPC, insurance company was Mapfre-Abraxas. In that case GAP was well worth it. If you can afford the financial hit if the worst happens then probably not worth it. OPC will be making a healthy margin on the sale of the GAP policy, so either get it thrown in with the deal or at a much lower cost. This is why insurance companies really don't want to pay out on them I am told.
garyw
Moderator
You can certainly shop around for GAP cover, it's a completely separate policy. I'd take the tyre insurance though... I've had GAP on my cars both from the OPC -when they finally matched reasonable quotes.. as John says- some pay a maximum out whilst others return to Invoice... Were they any use? I don't know I'm pleased to say... garyw PS I see the road fund has gone up again....[&:]
chrismouzou
New member
Took out gap insurance on my last gen1 tt but not with opc other insurance company£8 per month Chris
speedy_un
New member
a) I think it's worth it. b) I paid £500 for 36 months (from OPC Finance) - bought March 2010. OPC were prepared to haggle/price match with a quote I got at the time. Gap Insurance can be bought cheaper elsewhere as a stand alone product (someone mentioned £8 per month), but I went with Porsche as it was a one-stop-shop and the T&C's dovetailed nicely with the finance agreement. I don't think tyre insurance was available at the time I bought, so I'm not sure on the level of cover to be able to comment on whether £300 is reasonable or not - would also need to know how many miles you will cover and what type of use. Should be a fairly simple mathematical calculation?
I paid £496 on my £45k C2 nearly 2 years ago. Can't understand why the same amount of cover - £25k max - is twice the price. OPC are feeding my some BS about it's because the car is £100k ... yet it's still £25k cover. So unless they bring it down inline with what I paid before I think they'll be whistling for it 
Only issue I see with the tyre insurance is that if you have a problem as Paul did @ Wales, you have to get authorisation before it can be repaired or they won't pay, and that's not always feasible. I'm one of these people who believes (rightly!) that insurance companies will always go the extra mile to avoid having to pay out on these kind of policies.
Only issue I see with the tyre insurance is that if you have a problem as Paul did @ Wales, you have to get authorisation before it can be repaired or they won't pay, and that's not always feasible. I'm one of these people who believes (rightly!) that insurance companies will always go the extra mile to avoid having to pay out on these kind of policies.
Matt Mine is 50K max, 25k seems a bit low considering the initial cost of the car and the possible depreciation over say 24 months. I looked at tyre insurance but couldn't find a decent policy, the one I went for, on filling in the forms I noticed it only allowed upto 17 in tyres, complete waste of time and this from a so called specialist. Steve
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