I took out gap insurance when I leased my Volvo, since bought it, the dealers 3 year deal was very overpriced. I got it for a third of that from the same group that does Insure4hire etc etc. Peace of mind is what it is for, a small sum to cover a potential larger loss. Worth it for me.

Cheers Concrete

Unless you habitually write off nearly new cars, gap insurance is a waste of money.

It only helps if the car is written off - repairs are normally covered by your insurer.

If the car is a write-off it may cover the difference between the insurance payout and either (a) a replacement new vehicle or (b) finance outstanding. But read the small print!

The replacement vehicle commitment is probably the first year only - otherwise there would be a spate of write offs shortly before the policy ended (3 years?)

Finance outstanding may be less than the vehicle value anyway by the end of the first year - finance companies prefer the value of the vehicle to be higher than outstanding finance for obvious reasons!

You are paying a premium of a few hundred ££ to secure yourself against a loss of (at most) a small number of £££ thousands.

Only you know how likely you are to call on the policy - personally I have driven for 50 years without and write offs in new or old cars.

The rules of buying insurance has always been the same to me.

I insure anything which costs a lot & I could not afford to buy another easily

1) I insure my house & contents

2) I insure the car as I have to to legally drive on the road. 3rd party is minimum, but in my case, I insure comprehensively as there is no difference worth mentioning in the cost.

3) I used to insure my life for the benefit of my wife & family when I was younger.

4) Travel cover for the medical costs.

Insurance to cover GAP insurance, mobile phone, breakdown cover for electrical goods, car cover for repairs etc are what I call SELF INSURANCE - put, in effect small amounts every month / year, when the bill comes in for a repair / loss I have the money to get the repair done or buy another.

In 53 years driving I have scratched my own car quite a few times & paid my own repair. I have been hit by 3rd parties but never needed to claim on my own policy apart from windscreens. - 3rd PARTIES do pay up eventually - 18 years ago it took the 3rd party 2 years when their insured drove into a car that then hit mine.

People that are careless pay through the nose for cover - it pays to be careful.