If your car gets stolen or written off at any point, your insurance will give you money for a replacement of equal value. In other words apart from loosing your excess you are no better or worse off than you were before.
Except of course that you might not be able to find another car of the same spec. as your own, and of course people outside of this forum may not be as caring towards their golfs as we are!
- it is against this that you are insuring with GAP. Personally, i felt they were asking too much.
I didn't when I bought my elise a couple of years back and lost a lot of money on it when it was written off a few months later (even after managing to haggle the insurance company up ?3k from their original offer[:O])- seems like it'll never happen, but imagine if you didn't take it and the worst happened, you could be looking at additional costs running into thousands for the sake of a couple of hundred quid up front
They never offered it to me at the dealership - a letter turned up on my doorstep a month later saying they'd forgotten and would like to offer it to me; the letters been sitting in the office for a while, don't think I'm going to bother. After all ?300 is a long way towards a Milltek 
It's one of those things that is money well spent if you need it but a total rip-off if you don't. I kind of see it like one of those extended guarantees they offer you with a telly so didn't bother.
For anyone who wants the piece of mind though it is probably looking into getting it yourself independently. As with everything else supplied by the dealer or any third party, they are in it to make money!
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