Anyone recommend any good/cheap GAP insurers. Audi offered me 3 years cover for £400 but think I could get it elsewhere for that price according to others on here.
GAP Insurers
- Thread starter HulkRS3
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RichardT
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The stealers threw mine in to seal the deal, was only when I signed the paperwork I found they were charging £749 and discounting the price of the car. I imagine this was to maximise their commission.
I cancelled as you get 30 days cooling off and took out gap through ALA for £130. Both we're for 3 years return to invoice.
I cancelled as you get 30 days cooling off and took out gap through ALA for £130. Both we're for 3 years return to invoice.
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So you cancelled the policy included with the car (so the retailer would've been refunded the buttons they would've paid for it) & then paid out an additional £130 if I've read that right!?!.
RichardT
Registered User
Well I assumed the policy was in his name and he somehow got the refund - but it sounds surprising!
Ala here too, excellent company in helping setting policy up though I havent yet (thank god) claimed.
There are a couple of discount codes flying about too if you dona quick search.
At least 10% but maybe up to 12
There are a couple of discount codes flying about too if you dona quick search.
At least 10% but maybe up to 12
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When you take gap through a dealer, they just act as an intermediary and pass on the money to the provider.
I said I'd buy the car if they threw the gap cover in and they agreed. When I signed the paperwork I had 2 invoices, 1 with the cost of the car that was reduced by £749 and another for the gap for that price.
All in my name and so yes, I get the refund and end up £619 better off
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Thanks for clarifying that makes more sense now, but did they still leave the car discounted by £749?.
The deal is done mate once signed for and money exchanged, nothing they can do
By law you have a cooling off period in which to cancel, same goes for the finance if you take that.
I wouldn't have thought they were looking after my best interests when putting the deal together.
By law you have a cooling off period in which to cancel, same goes for the finance if you take that.
I wouldn't have thought they were looking after my best interests when putting the deal together.
CookD
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I think ALA was coming out at £250 for me on the day of collection. I hadn't sorted it when I picked the car up and for giggles asked what Audi would quote (whilst telling them the ALA price). They offered it at £350 for 3 years, full replacement cover etc. I said if they'd do it for £300 I'll take it there and then. They declined so I wasn't too bothered but then when finalising paperwork they said they could do it for £310. Took it to be honest just to have comfort it was sorted for the drive back to work.
After reading some of the prices on here I guess I should of gone elsewhere. Oh well.. live and learn.
After reading some of the prices on here I guess I should of gone elsewhere. Oh well.. live and learn.
I've did GAP insurance through ALA for my previous car but I have not yet done anything for my new car. My normal insurance covers the replacement of the car for the first 12 months and when I spoke to ALA they said I could leave it and take out cover when my car was 12 months old. I also do Excess Insurance through them. It means I can get a lower premium by have a larger excess, but will not have to pay out any excess if I need to make a claim.
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There are restrictions to your own insurer sourcing a new car in the event of yours being written off, I can't remember if it's a certain timescale they have or what it is, but they then revert to book price so in my personal opinion, GAP from day 1 was well worth doing.
Is it better to have Back to Invoice or Vehicle Replacement cover? Shamefully this is my first time with GAP.
Back to Invoice will give your the money you paid for the car as shown on the purchase invoice. Vehicle Replacement Cover means the GAP insurer will pay the cost of purchasing a vehicle of the same specification including any price rises since the vehicle was purchased.
So Back to Invoice provides some cover but Vehicle Replacement is even better which is why it generally costs more.
So Back to Invoice provides some cover but Vehicle Replacement is even better which is why it generally costs more.
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Better to be safe than sorry Dave (hope I've got your name right) should the worst happen, hate to see you get 'done over' by the insurance company.
As above, replacement vehicle looks at the cost of getting you in a like for like car even if there has been a price increase whereas back to invoice will give you what you paid for it which isn't great if you got £4000 off the price of the car as you may not get that discount again.
I would've thought return to invoice is better as it gives you the freedom of paying off any finance left and doing whatever with what's left (assuming your 3 years into a 4 year deal for e.g)
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Have a read of this Sam https://www.ala.co.uk/gap-insurance/vehicle-replacement-insurance
The money is paid to you so you could still pay off the finance and get a different car, you'd just have more money than with back to invoice.
When I spoke to ALA the lady said I could take our the Vehicle Replacement cover when my car was one year old. But reading the ALA policy document it says cover must be taken out within 180 days of purchasing the car. At the beginning of May my car insurance will need to be renewed for another year and in the past I have taken out Excess Insurance with ALA so that I can have a higher excess and a lower insurance premium. When I take out the Excess Insurance I will also take out the GAP insurance. My car will be just over 60 days old at that point. So far ALA have quoted £271 for 4 years and £217 for three years less the discount (10%) I get for being an existing customer. This is based on the purchase price of my cat being £33,875 before discount.
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Gapinsurance 123
4 years policy deferred for first year, to pay out up to £25k gap on top of insurance claim to replace vehicle with brand new of similar spec if the car is stolen/written off in years 2 to 5 - £241.
If you sell the car before the policy ends they credit remaining cover and discount off your next policy.
Yes - the underwriter went bust last year but cover was never compromised.
4 years policy deferred for first year, to pay out up to £25k gap on top of insurance claim to replace vehicle with brand new of similar spec if the car is stolen/written off in years 2 to 5 - £241.
If you sell the car before the policy ends they credit remaining cover and discount off your next policy.
Yes - the underwriter went bust last year but cover was never compromised.
