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Is 'Gap' insurance for a new car worth the cost?

I am in the process of buying a new MINI Cooper Countryman and am being offered 'MINI Shortfall' gap insurance to cover the difference between purchase price and my insurer's write-off settlement in the event of theft, fire or someone else's fault. Is this a worthwhile option to accept, and if so what would be a reasonable cost?

Asked on 21 January 2014 by Martin W Oxford

Answered by Honest John
It's worthwhile at the right price. Should not be more than £200 via an independent broker. If the dealer is asking more then he's taking a big fat commission out of it, and out of you.

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