1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Gap insurance?

Discussion in 'New A3/S3 (8V Chassis)' started by Ryanytchan, Jan 28, 2014.

  1. h5djr
    Offline

    h5djr Well-Known Member VCDS Map User

    Joined:
    Jan 23, 2003
    Messages:
    7,749
    Likes Received:
    656
    [Apr 19, 2014]
    Neither, just giving PA some of his own medicine....
  2. warren_S5
    Offline

    warren_S5 Moderator Staff Member Moderator VCDS Map User

    Joined:
    Oct 31, 2007
    Messages:
    7,230
    Likes Received:
    2,440
    [Apr 19, 2014]
    WTF is it with 8V section; it's a forum, not a playground. Please try and act as such.
    PilotAudi and Sandra like this.
  3. Sandra
    Offline

    Sandra MODERATOR Staff Member Moderator

    Joined:
    Sep 12, 2010
    Messages:
    17,390
    Likes Received:
    2,835
    [Apr 19, 2014]
    Both Warren and I have now commented on this thread. I dont have the same patience or tolerance as Warren. If this continues, you will only have yourselves to blame for the consequences.
  4. Scott
    Offline

    Scott Well-Known Member

    Joined:
    Mar 10, 2009
    Messages:
    1,265
    Likes Received:
    110
    [Apr 19, 2014]
    What about http://www.audi-sport.net/vb/new-a3-s3-8v-chassis/215177-golf-r-auto-express-test-2.html#post2143791 ???

  5. 81llyh
    Offline

    81llyh Active Member

    Joined:
    Sep 27, 2011
    Messages:
    155
    Likes Received:
    33
    [Apr 19, 2014]
    Back on topic...

    gapinsurance123- 3 years 15k cover for value of 31k on vehicle replacement £149. Would ALA match this?
    PilotAudi likes this.
  6. veeeight
    Offline

    veeeight I am a very pretty girl

    Joined:
    Jul 14, 2012
    Messages:
    3,447
    Likes Received:
    1,717
    [Apr 19, 2014]
    Probably, is it like for like?

    Call them, or submit an email enquiry!
  7. 81llyh
    Offline

    81llyh Active Member

    Joined:
    Sep 27, 2011
    Messages:
    155
    Likes Received:
    33
    [Apr 19, 2014]
    I think so..

    gapinsurances combined vehicle replacement and ALA's vehicle replacement plus will be like for like I would of thought?
  8. h5djr
    Offline

    h5djr Well-Known Member VCDS Map User

    Joined:
    Jan 23, 2003
    Messages:
    7,749
    Likes Received:
    656
    [Apr 19, 2014]
    Yes the would. ALA matched my quote of £169 from Gapinsurance123 and with their extra 20% it worked out at £165.20 as opposed to ALA's original quote of £188 for 3years Vehicle replacement Plus for £32k vehicle. (Price before discount)
    81llyh likes this.
  9. 81llyh
    Offline

    81llyh Active Member

    Joined:
    Sep 27, 2011
    Messages:
    155
    Likes Received:
    33
    [Apr 19, 2014]
    Just sent them an email
  10. PilotAudi
    Offline

    PilotAudi New Member

    Joined:
    Oct 4, 2009
    Messages:
    2,352
    Likes Received:
    478
    [Apr 20, 2014]
    I'm not sure on the above calculations in the post above (and my son in law a maths graduate doesn't either!) . extra 20% off £169 worked out at £165.20 ??? Not trying to wind anyone up but doesn't seem right.

    Interesting. My £240 reduced to £148 (Audi cost price) seemed a good deal.
  11. h5djr
    Offline

    h5djr Well-Known Member VCDS Map User

    Joined:
    Jan 23, 2003
    Messages:
    7,749
    Likes Received:
    656
    [Apr 20, 2014]
    What ALA say on their website is that they will price match and then give a further 20% of the difference. The difference between the ALA price (£188) and the Gapinsurance123 price (£169) is 188-169=19. 20% of 19=3.80. So ALA take the competitors price of £169 take take off a further 20% (£3.80) = £165.20.
  12. PilotAudi
    Offline

    PilotAudi New Member

    Joined:
    Oct 4, 2009
    Messages:
    2,352
    Likes Received:
    478
    [Apr 20, 2014]
    That makes far more sense than original post which didn't ! Seems the Audi £148 was a bargain !
  13. veeeight
    Offline

    veeeight I am a very pretty girl

    Joined:
    Jul 14, 2012
    Messages:
    3,447
    Likes Received:
    1,717
    [Apr 20, 2014]
    I'm sure you originally said £240 ?

    ;)
  14. PilotAudi
    Offline

    PilotAudi New Member

    Joined:
    Oct 4, 2009
    Messages:
    2,352
    Likes Received:
    478
    [Apr 20, 2014]
    Don't wind me up Mr 8 ... I was offered at £240 and bought at £148... As Warren has posted why are folks so arsey on this forum. We have Audis in common, let's try to get on eh ;-)
  15. warren_S5
    Offline

    warren_S5 Moderator Staff Member Moderator VCDS Map User

    Joined:
    Oct 31, 2007
    Messages:
    7,230
    Likes Received:
    2,440
    [Apr 20, 2014]
    Funny that, not nice is it...

    I find it hard to believe they are allowed to sell at that, £199 is cheapest I've heard of to date unless a goodwill gesture was due

    He only asked you a question, why take offence to it if you haven't got something to hide?
    Sandra likes this.
  16. PilotAudi
    Offline

    PilotAudi New Member

    Joined:
    Oct 4, 2009
    Messages:
    2,352
    Likes Received:
    478
    [Apr 20, 2014]
    Well

    1 ???
    2.it was £148 cost price as Head of Business advised . No good will!
    3 not hiding ... Yet! ;-)
  17. Pulp84
    Offline

    Pulp84 Well-Known Member

    Joined:
    Aug 17, 2013
    Messages:
    1,548
    Likes Received:
    469
    [Apr 20, 2014]
    Lol - you want me to get you a flak jacket?

    I've been offered it at £245 and I have agreed with my salesman to pay that price so I get a certain discount on my S3. Seemed to be if I took his GAP he cross sold more and therefore could sweeten my deal further. More than happy to do this if both customer and salesman get a mutual benefit.

    I am very happy with the Audi policy - think I have said before they paid out very quickly (1 week) with my brothers A1 write off. My friend who had ALA waited couple of months for them to sign it off. Both my brother and my mate had people pull out on them at a roundabout - pretty open and shut as it was their right of way. Makes all the difference when you want to order your next car and hence with this knowledge I wouldn't go with ALA. Won't tell the dealership that though!!
  18. veeeight
    Offline

    veeeight I am a very pretty girl

    Joined:
    Jul 14, 2012
    Messages:
    3,447
    Likes Received:
    1,717
    [Apr 21, 2014]
    From memory, the Audi GAP Product and ALA isn't quite like for like though?

    Assuming you're talking about the "Audi" policy thats underwritten by MAPFRE Asistencia Compañia International de Seguros y Reaseguros Sociedad Anonima...

    Assuming you're covering a car with value of £35k:

    The max payout on the Audi GAP is £15k (on the £40k vehicle cost policy), it's £25k with ALA
    The Audi GAP does not offer Vehicle Replacement policy, ALA does
    The Audi GAP is only Return to Invoice in Years 1 to3, in Year 4 it's repayment of outstanding finance, ALA does Vehicle Replacement in Year 4

    This is what I recall when I was comparing the two.
    mjcourtney and warren_S5 like this.
  19. Pulp84
    Offline

    Pulp84 Well-Known Member

    Joined:
    Aug 17, 2013
    Messages:
    1,548
    Likes Received:
    469
    [Apr 21, 2014]
    This one is through Heritage retail network under written by UK insurance PLC and in my policy document will pay a difference up to £25k - does not state a maximum you can take the policy for but mine is 3 years. Mine is a retail price protection GAP policy.

    Dealer to dealer the policies vary a lot and most are under written by companies I have never heard of. I work in banking / insurance and have done my homework on the companies behind this and confident they have high % of settled claims.

    ALA seems fine but like all things - when you know people that have had issues with a company you tend to stay away.
  20. h5djr
    Offline

    h5djr Well-Known Member VCDS Map User

    Joined:
    Jan 23, 2003
    Messages:
    7,749
    Likes Received:
    656
    [Apr 21, 2014]
    I must admit I thought all dealer offered GAP Insurance was done through Audi Insurance who, according to the documentation on their website use Insurer of this policy is: Mapfre Asistencia Compañia Internacional de Seguros y Reaseguros,Sociedad Anonima. I didn't realise each individual dealer could offer their own through another company.

    My own policy is for Vehicle Replacement (which Audi don't offer) and is with ALA. As you say I will only know for sure how good they are if I ever have to make a claim. More likely for the alloy cover or scratch and dent than for full vehicle replacement.
  21. Pulp84
    Offline

    Pulp84 Well-Known Member

    Joined:
    Aug 17, 2013
    Messages:
    1,548
    Likes Received:
    469
    [Apr 21, 2014]
    I didn't know there was a policy direct from Audi to be honest. I thought all dealers had different offerings depending what group they were part of.

    So, this afternoon dug out the paperwork I got from Audi Swindon (part of Inchcape group) when discussing a deal with them in January. Their finance guy did everything by the book and gave me a very good key T&C's document covering all their products. So was surprised to read the Inchcape branded GAP is underwritten by UK general insurance on behalf of Ageas Insurance Ltd - exactly the same as ALA! In fact it looks identical to the ALA policy -apart from they wanted £499 for it. LOL.
    Last edited: Apr 21, 2014
  22. h5djr
    Offline

    h5djr Well-Known Member VCDS Map User

    Joined:
    Jan 23, 2003
    Messages:
    7,749
    Likes Received:
    656
    [Apr 21, 2014]
    Audi's own GAP Insurance is covered on the Audi Insurance website:

    https://www.insurewithaudi.co.uk/Products/GapInsurance/
  23. Pulp84
    Offline

    Pulp84 Well-Known Member

    Joined:
    Aug 17, 2013
    Messages:
    1,548
    Likes Received:
    469
    [Apr 21, 2014]
    Interesting. I have yet to visit a dealer in my area (South West) that offer this policy. Yeovil Audi offered an identical policy to the one at Heritage but different to Inchcape.

    I suspect there is more margin / manipulation when selling a packaged product from another provider than the official Audi product that probably has an Audi UK margin attached.
  24. Stevo985
    Offline

    Stevo985 Member

    Joined:
    Mar 17, 2014
    Messages:
    81
    Likes Received:
    48
    [Apr 23, 2014]
    I eventually bought mine from ALA for £152

    Audi offered it to me for £395 and wouldn't budge an inch when I told them the ALA quote.
    Last edited: Apr 24, 2014
  25. Flibble
    Offline

    Flibble Active Member

    Joined:
    Mar 3, 2009
    Messages:
    455
    Likes Received:
    89
    [Apr 23, 2014]
    I had similar, Audi couldn't get anywhere near, despite being the same underwriter!
  26. Liquidfusion-S3
    Offline

    Liquidfusion-S3 I fall to peer pressure!

    Joined:
    Sep 5, 2011
    Messages:
    983
    Likes Received:
    288
    [Sep 17, 2014]
    Apologies to revive and old thread however just wanted to ask a question:

    I been reading up on GAP insurance is it seems to mainly revolve around cars being bought on finance and not bought out right from dealer.

    If I purchase GAP insurance on a car bought out right from Audi, would GAP still pay the difference between the insurer and invoice value to me? Or is this only for cars on finance that they only pay on?

    Clearly it is a no brainier to buy GAP on cars with finance on them, but not clear on out right bought.
  27. veeeight
    Offline

    veeeight I am a very pretty girl

    Joined:
    Jul 14, 2012
    Messages:
    3,447
    Likes Received:
    1,717
    [Sep 18, 2014]
    GAP Insurance, like any other non-mandatory statute insurance, reflects personal circumstances, and your outlook on risk.

    The choice of whether to buy life insurance, unable-to-work insurance, travel insurance or any other sort of insurance etc. depends on your personal circumstances, and your aversion to risk. Nothing more, nothing less.



    Two very useful previous threads (for those considering GAP Insurance)

    http://www.audi-sport.net/vb/new-a3-s3-8v-chassis/201513-gap-insurance.html

    http://www.audi-sport.net/vb/new-a3-s3-8v-chassis/197614-gap-insurance-again.html



    Like you say, it's a no brainier if your car is on finance, and you don't want to be in negative equity.

    For cars bought outright - it depends on you, and how likely you think your car is going to be written off, stolen or torched in years 2 to 4.

    In year 3 for example, your car could be written off or stolen, but the insurance only pays out at book value (bottom trade price) - not what the car is worth retail at the time. If you then wanted to replace the car with like for like, you'd have to look for £19k ish (or whatever the shortfall is at the time), or for the cost of 2/3 tanks of fuel, get the vehicle replaced through GAP.

    The choice and risk assessment is totally yours !!
    JohnnyM100 and Liquidfusion-S3 like this.
  28. veeeight
    Offline

    veeeight I am a very pretty girl

    Joined:
    Jul 14, 2012
    Messages:
    3,447
    Likes Received:
    1,717
    [Sep 18, 2014]
  29. JohnnyM100
    Offline

    JohnnyM100 Active Member

    Joined:
    Jan 12, 2013
    Messages:
    620
    Likes Received:
    207
    [Sep 18, 2014]
    It will provide cover whether car bought on finance or purchased outright.

    Like other insurance products, it is about covering risk.

    If you want to protect yourself from the risk of losing money in the event of a total loss / write off then go for GAP.

    I bought my car outright and I still bought GAP (and the vehicle replacement version, not return to invoice). I saved for a long time to buy my car and wanted to protect the difference between my insurer payout and new car price in the event that my car was written off on the first 4 years. Personally, I saw £200 for that cover as a bargain.
  30. Liquidfusion-S3
    Offline

    Liquidfusion-S3 I fall to peer pressure!

    Joined:
    Sep 5, 2011
    Messages:
    983
    Likes Received:
    288
    [Sep 18, 2014]
    So the S3 is worth roughly £35k, in 3 years time if I claimed gap would they cover and make up the full difference between the insurer up to invoice value at £35k? Or would it only be market value in 3 years time? I think this bit is where I'm slightly confused.

    It says return to invoice so I would of thought the full £35k?
  31. JohnnyM100
    Offline

    JohnnyM100 Active Member

    Joined:
    Jan 12, 2013
    Messages:
    620
    Likes Received:
    207
    [Sep 18, 2014]
    It would make up the difference between insurer payout (market value at the time of the write off) and your 35k invoice.

    However, an equivalent spec may be 37k new by then and return to invoice would not cover that extra 2k. You would have needed vehicle replacement option to cover that extra.

    John.
    Liquidfusion-S3 likes this.
  32. Liquidfusion-S3
    Offline

    Liquidfusion-S3 I fall to peer pressure!

    Joined:
    Sep 5, 2011
    Messages:
    983
    Likes Received:
    288
    [Sep 18, 2014]
    Ah brilliant, thanks for clearing it up.
    In my case I think I would just take the money and pay off some of the mortgage rather than getting it replaced like for like brand new, meaning I would have to go back to the wife's tiny Yaris lol
  33. veeeight
    Offline

    veeeight I am a very pretty girl

    Joined:
    Jul 14, 2012
    Messages:
    3,447
    Likes Received:
    1,717
    [Sep 18, 2014]
    Also when considering RTI - bear in mind, not only would this not account for price increases as stated above, but also - your invoice price would be a discounted invoice price, which you may or may not achieve next time around.
  34. Liquidfusion-S3
    Offline

    Liquidfusion-S3 I fall to peer pressure!

    Joined:
    Sep 5, 2011
    Messages:
    983
    Likes Received:
    288
    [Sep 18, 2014]
    Apologies for sounding a bit dumb but what do you mean by "your invoice price would be a discounted invoice price"?

    I thought there was only 1 invoice price which is the 'total' price?
  35. veeeight
    Offline

    veeeight I am a very pretty girl

    Joined:
    Jul 14, 2012
    Messages:
    3,447
    Likes Received:
    1,717
    [Sep 18, 2014]
    Let say you bought a S3, OTR price £36k
    but you negotiated a discount, so you end up paying £32k
    It will state on the invoice, £32k.

    So on a RTI policy, it will only pay out the difference between £32k and the book price, not £36k and the book price.
    Liquidfusion-S3 and Psyman79 like this.
  36. Liquidfusion-S3
    Offline

    Liquidfusion-S3 I fall to peer pressure!

    Joined:
    Sep 5, 2011
    Messages:
    983
    Likes Received:
    288
    [Sep 18, 2014]
    Cheers buddy!
  37. Bristle Hound
    Offline

    Bristle Hound MODERATOR Staff Member Moderator

    Joined:
    Jul 30, 2014
    Messages:
    1,734
    Likes Received:
    813
    [Sep 18, 2014]
  38. Liquidfusion-S3
    Offline

    Liquidfusion-S3 I fall to peer pressure!

    Joined:
    Sep 5, 2011
    Messages:
    983
    Likes Received:
    288
    [Sep 18, 2014]
    ALA seems to be highly rated, so I'm just going to find the cheapest quote online then get ALA to match it and knock off another 20% (off the difference) lol
  39. saudi
    Offline

    saudi New Member

    Joined:
    Sep 17, 2014
    Messages:
    24
    Likes Received:
    0
    [Sep 19, 2014]
    How many years GAP insurance please? Normal is 3 years, is it worth getting 4 or 5 years and why?
  40. Bristle Hound
    Offline

    Bristle Hound MODERATOR Staff Member Moderator

    Joined:
    Jul 30, 2014
    Messages:
    1,734
    Likes Received:
    813
    [Sep 19, 2014]
    I suppose it would depend on how long you want to keep your A3 :thumbs up:

Share This Page