I'm looking into insurance, and have seen a few mentions in forums and on of 'gap insurance' - I think VW call it Asset Protection.

Has anyone taken it up ? From what I can tell, if you have a prang, the car's a write off and you get back $18,000 on the car for example, but to the finance company it was still worth the $25,000 you paid for it on day one, that you'll have a $7,000 gap to cover to pay out the financier, or just keep paying off a debt until it's gone.

Like to hear thoughts and prices if anyone's done it.