Just a thought as I work in insurance.......
Check your policy to see if there is a new vehicle replacement entitlement (i.e. if the car is under 12 months old and in the event of a total loss the insurer replaces your vehicle like for like). If so don't worry so much about gap (which is after all gauranteed asset protection)as you basically have it covered (BUT read the small print for exclusion clauses).
If you do not have a new vehicle concession / the car is 13 months or older have a good think about gap, as in the case of a total loss you will not find yourself in the position of being on the end of a pay out where the value offered is paid at what the car is worth at time of loss less any moneies owed in an Hire Purchase arrangment. If a car is purchased 'new' and on finance you can be left with:
1. No car.
2. No money to buy a car.
3. Still Paying off the balence of the finance for the vehicle written off.
My own view is work out the rough depreciation of your car / the money you owe on it (if you owe any) and shop around for a product that balences the cost versus hassel of being without a car.
Might also be worth checking out the forum on the moneysavingexpert site for deals etc.....
Anyway - that's my view - it may be not for Tony G - but for any lurkers on the post who don't want to get stitched at point of sale - but do want to cover themselves in the event of a loss.
Take it easy.
