Check your insurance before buying GAP insurance - new cars only

[Llynyfan]

We're collecting our new car tomorrow and in getting the documents in order, discovered something with our insurance cover I'd like to share.

We always purchase GAP insurance when we buy a new or nearly new car. It just gives you that peace of mind. Having chatted to a friend, I checked my car insurance and found, if your car is brand new, in the first 12 months they cover a brand new replacement if written off, stolen not recovered etc. The caveat is you must be the first registerd keeper on the V5 (pre-reg cars with ultra low miles may be excluded).

It's saving us a years worth of GAP payment, added more shine ro the big occasion tomorrow.

Hope this helps 🙂

[Big_D]

Thanks Sue. This is going to save us some money.

[Roy124]

GAP insurance does not cover the first year but for the second year onward during your PCP or Lease period. You usually have to purchase it when you buy the car and it takes effect after the first year. 

In my case I changed my car a year early, there was a rebate on the first premium which was then applied to the new car. 

[FROSTYBALLS]

7 hours ago, Llynyfan said:

I checked my car insurance and found, if your car is brand new, in the first 12 months they cover a brand new replacement if written off, stolen not recovered etc. The caveat is you must be the first registerd keeper on the V5

This has actually been the case for a number of years for the majority of comprehensive insurance policies.

[Llynyfan]

I didn't know this was so, I've missed out on one car where I paid when it was new. Oh well, c'est la vie as some of us say in these parts 🙂

[Roy124]

Llyn, I doubt it, read what I said.  Buy GAP when new, it is then active at the end of the first year. 

Go to a GAP insurer and ask them.  I use ALA. 

[Llynyfan]

Hi @Roy124. Ive always used ALA and will speak to them. Why buy it now and activate ready for the end of its first year. Why not buy prior to start of year 2?

Nothing is simple anymore...my head hurts

EDIT: Just checked the ALA website and it states:

You may also wish to consult your comprehensive car insurance, as some insurers will replace a car bought from brand new if it is written off within its first year. If you believe you may have this cover, check the terms and conditions thoroughly to ensure there are no exceptions or exclusions to this cover. If you’re happy that the cover offered by your insurer is sufficient, GAP insurance can be purchased before the end of the first year to ensure you’re covered for the rest of the time you own the car.

Edited September 30, 2022 by Llynyfan
Adding to text