Anyone take our GAP or tyre insurance?

[ct4s]

Collecting my used 4s today.
Given the massive depreciation, I've taken out GAP insurance.

Has anyone taken out wheel and tyre insurance given the terrible state of our roads (seems like holes are every few hundred meters in Cheshire)?
Did you go with the policy pushed by Porsche [£585 for 3 years'] or another?
Or is it rather pointless given the maximum claim limits (see attachment)?

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[whitex]

I'm not familiar with UK GAP insurance, but in the US it only covers the "gap" between what you owe on the car and the replacement value of the car should it get totaled. This "gap" only typically exists at the initial part of the loan/lease, and the bigger the down payment or trade-in value, the shorter the time the gap exists. With a large enough down payment, the gap never exists, meaning you're paying for zero-coverage, but funny enough, the dealer or insurance company will never tell you that. I usually have had large trade-in values which went towards a down payment for a new car, and had some funny conversations with dealers about "how much will this insurance pay out if I total my car tomorrow? Zero you say? Why then should I pay for this wonderful insurance which will never pay me any money? <crickets chirping>"

As for you tyre insurance, it seems limited to £150 per repair reimbursement and £50 out of pocket that you pay, but more importantly £600 limit including VAT over the entire life of the policy. Paying £585 for a policy which at best pays you £600 seems like a very high risk (of not hitting the maximum given per incident max £150) for low reward (£15 total). In other words, the most you can ever make on this policy over 3 years is £15. The most you can lose is £585 (no claims). If you invest the £585 in US government bonds today you will make more in 3 years than £15 - more like £73, a guaranteed return unless the US government goes bankrupt in 3 years. If the US government declared bankruptcy within 3 years, there will be much bigger economical problems you will be worried about than a few £ you might have lost.

 

[ct4s]

In the UK at least, there are 3 tyres of vehicle GAP insurance.
I took the one that covers the difference between an insurance payout for a total loss and invoice price I paid for the car. I think the other options cover lease and PCP shortfalls.
Seems a decent deal for £100 a year given the likely depreciation.

I think the tyre one may be quite pointless though.

 

[senwar]

I took GAP, alloy/tyre and smart repair insurance but not with Porsche. Went with car2cover. The alloy/tyre was a lot better than Porsche as the Porsche one was wheel only (that I was offered).

Limits but similar although tyre is £300 per claim. The cost of all of the above wasn’t much more than GAP alone with Porsche.

 

[W1NGE]

Collecting my used 4s today.
Given the massive depreciation, I've taken out GAP insurance.

Has anyone taken out wheel and tyre insurance given the terrible state of our roads (seems like holes are every few hundred meters in Cheshire)?
Did you go with the policy pushed by Porsche [£585 for 3 years'] or another?
Or is it rather pointless given the maximum claim limits (see attachment)?

I took both Tyre and Wheel - negotiated a hefty discount as I also took GAP. Typically, GAP can't be discounted (you can source cheaper return to invoice products online) but if you threaten to do this then you should find your Tyre and Alloy insurance will plummet in price to around £250.

 

[WuffvonTrips]

I took GAP insurance and a policy that covered both alloy wheels and smart cosmetic repairs, both offered by the Porsche dealership. I don't have tyre insurance except that which is covered by my main full comp policy.
I took GAP insurance in addition to the "free" Return To Invoice clause of my fully comp vehicle insurance, because the latter was capped to significantly less (£100k max IRC) than what I paid for the new vehicle.
As far as I'm aware, each dealership offers products of its preferred insurers, which will be the same as other Porsche and other marque dealerships within that particular group of dealerships.

 

[DAN116L]

I took one for Gap , alloys and tyres from tidyalloys.com. I had to do 2 alloys in the first month ( I live in Cheshire as well). Repaired without any excess - the only problem is I had to leave the car with the service for 3 days. The insurers were excellent- easy communication unlike most of the other companies.

 

[Remedy234]

Was offered this with £434.00 Cosmetic and Alloy 3 years(For 2 Policies Combined, up to 30 claims)
Tempted.

I took GAP out with gapinsurance123 for £297.00 for 4 years

 

[kempez]

I took GAP from Porsche as it was return to invoice. Not wheel insurance as my local place is absolutely brilliant and I’d rather deal with them as/when and not mess about with insurance.

 

[BigBob]

I took out 4 year Gap with Ala. Was about £400

 

[anonymouse]

The coverage in your post is £300 per tyre - the “tyre repair’ coverage is for having punctures fixed, not for replacing whole tyres.

I negotiated the dealer to include GAP and tyre insurance from the Porsche suppliers. In the first six months I have made two claims on the tyre insurance for £300 each. The UK potholes are nasty at the moment. Paid without question. the tyres cost £320-350.

 

[Ja5on]

If your buying new, GAP is well worth it.

Tyre and wheel insurance is also. On a previous car of mine it had Pirelli tyres and they were renowned for getting a horrible bulge in the side wall after hitting a pot hole. I had the car 2.5 years and had 3 tyres replaced in that time, all covered by insurance

 

[ct4s]

Done the whole let for under a grand, happy enough with that.

• GAP back to invoice, £50k payout limit, 4 yr policy
• Tyres and wheels, 5 claims, tyre max = £300, alloy repair max = £150, 3 yr policy
• Scratch and dent, up to £3k, £500 per claim, 3 yr policy

 

[Remedy234]

Well I’ve just had a couple of wheels repaired (kerb rash) I took out the insurance Porsche recommended but the guy doing them said the repair won’t be warranted as Porsche, or someone has previously had them repaired. His words were “they need powder coating really and not of the quality you’d expect on a Porsche”
Not impressed.

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