GAP Cover

[HulkRS3]

Quick one - I always use ALA for my GAP cover and you can use code MSE25 for a good discount. What do people usually go for, Vehicle Replacement or Back to Invoice? It's suggested a cover of £30,000 for me on Back to Invoice. I'm assuming this is due to the motor insurance policy usually covering for total loss within the first year etc.

 

[Mike.46]

Quick one - I always use ALA for my GAP cover and you can use code MSE25 for a good discount. What do people usually go for, Vehicle Replacement or Back to Invoice? It's suggested a cover of £30,000 for me on Back to Invoice. I'm assuming this is due to the motor insurance policy usually covering for total loss within the first year etc.

I got quotes from toatllossgap.

Back to Invoice/ New Car price
2Yr 286 ............332
3Yr 315............ 352
4Yr 387............ 440
5yr 452............ 581

 

[hood]

Is there any point in Gap insurance at the moment.
Market value of your car is at least RRP and your insurance will give you market value with a total loss

 

[Mike.46]

Is there any point in Gap insurance at the moment.
Market value of your car is at least RRP and your insurance will give you market value with a total loss

You can only take GAP out to new car price within the first 180 days

Insurance will only pay invoice or supply a new car (I spoke to them today)

 

[HulkRS3]

I got quotes from toatllossgap.

Back to Invoice/ New Car price
2Yr 286 ............332
3Yr 315............ 352
4Yr 387............ 440
5yr 452............ 581

ALA for back to invoice over 3 years at £45k worth of cover was £262.50. Given that 2019 RS3s are still selling for £47k I'm not really sure if I should be looking for higher level of cover or not...?

 

[Mike.46]

I think GAP is more important with a PCP?

I need to look into GAP this next week or so

 

[Snake Pliskin]

Quick one - I always use ALA for my GAP cover and you can use code MSE25 for a good discount. What do people usually go for, Vehicle Replacement or Back to Invoice? It's suggested a cover of £30,000 for me on Back to Invoice. I'm assuming this is due to the motor insurance policy usually covering for total loss within the first year etc.

I went with ALA back to invoice for 3 years.

 

[Mike.46]

I went with ALA back to invoice for 3 years.

I have just done a quote with ALA at £329 for back to invoice (£56500) against Totallossgap at £315, or with totallossgap I can go to new car price (Presently £61665) for £351

 

[Snake Pliskin]

I have just done a quote with ALA at £329 for back to invoice (£56500) against Totallossgap at £315, or with totallossgap I can go to new car price (Presently £61665) for £351

ALA was £240 after a discount code recommended on this site applied (sorry you will need to search it out as can't remember where it was).
3 years back to invoice (Jan 22)

 

[Alan Oliver]

I think with the "desirability" of this Car having GAP would be beneficial, Yes most insurance policies' with total loss replace a new Car in the 1st year, After that you are on your own, Somewhat.

Probably Preaching to the Choir but having previously worked in the Trade & now being on the other side i would say like anything, Don't take at face value what the dealer offers you, Shop around & if you still want to go with the dealers product, Challenge them to price match any better price you may have obtained.

 

[HulkRS3]

I have just done a quote with ALA at £329 for back to invoice (£56500) against Totallossgap at £315, or with totallossgap I can go to new car price (Presently £61665) for £351

Not sure what variables you put in Mike, but with the discount code MSE25 and back to invoice over 3 years, with the invoice price set at £56500, and level of cover at £50,000, I got £267.75.

ALA was £240 after a discount code recommended on this site applied (sorry you will need to search it out as can't remember where it was).
3 years back to invoice (Jan 22)

What level of cover did you go for mate?

 

[Snake Pliskin]

Not sure what variables you put in Mike, but with the discount code MSE25 and back to invoice over 3 years, with the invoice price set at £56500, and level of cover at £50,000, I got £267.75.


What level of cover did you go for mate?

3 years back to invoice

 

[HulkRS3]

3 years back to invoice

Yup but how much cover? When you take out the quote is gives you a level of cover that they will pay and you select which suits you.

 

[Mike.46]

Not sure what variables you put in Mike, but with the discount code MSE25 and back to invoice over 3 years, with the invoice price set at £56500, and level of cover at £50,000, I got £267.75.


What level of cover did you go for mate?

I didnt put the discount code in, best try again I did a search for gap and that 'total loss gap' came out v well, that was why I phoned them, their web site is quite slow

I now get £246 or £288 for back to invoice or new car, It must change dependent on hiw you fund the car?

 

[Snake Pliskin]

Yup but how much cover? When you take out the quote is gives you a level of cover that they will pay and you select which suits you.

Vehicle value = £58,320
Max benefit = £37,500
I've just gone for what I paid (return to invoice) even though they are dearer to buy now.

 

[DAN@ADRIAN FLUX]

Hi.

Just to let you know that we offer a 12 month product called Total Loss Protection. Whilst it's not exactly the same as your traditional GAP insurance we feel for some customers it can make a cost effective alternative.

Please feel free to take a look if you wish.

https://www.adrianflux.co.uk/extras/total-loss/

Regards,

Dan.