Whose had a payout on GAP insurance?

Martinbanshee

Registered User
3 years for £227! I guess I will be shopping around. Thanks
Yeah, you'll get a much better deal and one with all the cover you need from elsewhere. You'll certainly save a few hundred quid.
 

Gazjs

Registered User
Time to shop around I think. I have placed on my order the Audi GAP. I haven't received the car, nor will I until middle to end of March.

So I won't be bound in to a contract just yet? And can cancel at any time?
 
Read the policy wording very carefully and consider how the company would interpret it.

For example, one of the policies suggests that it wont pay out if you are doing anything illegal. I interpret that to mean if I write it off at 75 mph then it wont pay out.
 

Vins

Sepang S3
I've just done a quote on ALA. 33k purchase price. The recommended level of cover came up with 20K, shouldn't this be closer to the full amount?

£200 for 3 years or £275 if I select 30K level of cover.

Is everyone going for Back to invoice plus or vehicle replacement plus?

 

richinsoton

Registered User
I've just done a quote on ALA. 33k purchase price. The recommended level of cover came up with 20K, shouldn't this be closer to the full amount?

£200 for 3 years or £275 if I select 30K level of cover.

Is everyone going for Back to invoice plus or vehicle replacement plus?
The difference in payout between invoice value & what GAP payout is due to your insurance company paying out the larger amount e.g trade value of the car if you crashed it now & then GAP tops it back up to the invoice value. So for example £33k car, insurance pays out maybe £20k & GAP pays out £13k to take you back to the invoice value of £33k. When I purchased my policy from them there was a sliding scale showing how much they'll pay out as a maximum which wasn't much greater than 50% of the invoice value iirc. Realistically you'll never need £30k coverage as you're insurance company would be paying out more than £3k I'd hope!!.

I went with ALA too for a back to invoice policy, as like the Audi policy they're only a broker / intermediary. My ALA policy is actually underwritten by Aegus Insurance, so a big name in the insurance market for some reassurance. £100 from ALA or £499 from Audi... so £399 for the privilige of them entering the data on my behalf, not a hard choice to make imho!.
 
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DH81

Registered User
I've just done a quote on ALA. 33k purchase price. The recommended level of cover came up with 20K, shouldn't this be closer to the full amount?

£200 for 3 years or £275 if I select 30K level of cover.

Is everyone going for Back to invoice plus or vehicle replacement plus?

10% off with ALA with the discount code from Honest John http://www.honestjohn.co.uk/reader-offers-and-prizes/reader-offers/offer-ala-gap-insurance/
http://www.honestjohn.co.uk/reader-offers-and-prizes/reader-offers/offer-ala-gap-insurance/

I went with these although can't comment on their service as I've not claimed
 

Gazjs

Registered User
What is the best cover to go for on a PCP deal? Just the one that covers the outstanding finance?
 

DrEskimo

Registered User
What is the best cover to go for on a PCP deal? Just the one that covers the outstanding finance?

Both vehicle replacement and back to invoice GAP will cover the finance from a PCP. Back to invoice will ensure you are in the same position to buy a car of equal value. Increases in price or reduced discounts may or may not allow you to get a finance deal similar to the one you have now on exactly the same model/spec car. Thats where vehicle replacement comes in. Gives you a brand new replacement car exactly the same model/spec, regardless of any price rises or decreases in discount.

Ultimately it comes down to what works better for you. If you think discounts will only get better, and prices won't rise, then the additional premium may not be worth it to get vehicle replacement GAP.
 

Blackforce

Registered User
Do not buy the gap insurance direct from Audi. It's a rip off. They are actually not allowed to sell it to you on day one due to changes last year. They was no competition and people were paying over the odds. Hence why they have brought in these new rules.

https://www.fca.org.uk/news/ps15-13-guaranteed-asset-protection-insurance-competition-remedy

The vehicle replacement policy is the best as it will give you back the money needed to buy the same car. So this means that if Audi bring out a new Audi A3 with an increased price tag or pricier options. The total cost of a replacement could be slightly higher than you originally paid. With inflation over 3 years the car could be naturally a bit more.
 

Soulboy

Registered User
I went ALA back to invoice if I remember correctly on a PCP purchase.
ALA were highly recommended on other car forums inc people who had to claim.
 

Flibble

Registered User
I had a back to invoice policy from ALA on my S3 when it was written off. Cost £220 for 4 years cover. They paid out the difference between the insurance settlement and my invoice (though there was a slight delay as it was over £10k). My only complaint is that they paid by cheque rather than an electronic transfer. Largest cheque I've ever cashed though, that's for sure!
Definitely worth having, I'd have been well out of pocket without it.
 

Schoey71

Registered User
Time to shop around I think. I have placed on my order the Audi GAP. I haven't received the car, nor will I until middle to end of March.

So I won't be bound in to a contract just yet? And can cancel at any time?

Hi Gazjs, returning member here, can I ask how you got on in terms of cancelling the Gap insurance with Audi? I am buying a an A3 sline BE, and they are quoting me £749 for a 36 month term. I got a quote from directgap.co.uk last night for £127 for the same term. I notice that Audi have put the £749 on my order. There is also a note on the order stating Asset protection subsidised in discount.
Timing wise, I have not agreed the exact deposit or monthly payments on the PCP yet, but I have given the dealer £500 deposit to hold the car. I have asked them to requote without the Gap Insurance.
I have not bought a private car for 15 years as I have been a company car user, so I'm a bit new to this. Any advise would be appreciated.
 

Tom.H

Registered User
Hi Gazjs, returning member here, can I ask how you got on in terms of cancelling the Gap insurance with Audi? I am buying a an A3 sline BE, and they are quoting me £749 for a 36 month term. I got a quote from directgap.co.uk last night for £127 for the same term. I notice that Audi have put the £749 on my order. There is also a note on the order stating Asset protection subsidised in discount.
Timing wise, I have not agreed the exact deposit or monthly payments on the PCP yet, but I have given the dealer £500 deposit to hold the car. I have asked them to requote without the Gap Insurance.
I have not bought a private car for 15 years as I have been a company car user, so I'm a bit new to this. Any advise would be appreciated.

You're under no obligation to take it out, just tell them you don't want it and get it from elsewhere. My salesperson knew I could get it cheaper and made it clear the dealership weren't able to discount it (as much as she'd have like to have done it for me) that was that, no from Audi and bought from ALA.
 

Gazjs

Registered User
Hi Gazjs, returning member here, can I ask how you got on in terms of cancelling the Gap insurance with Audi? I am buying a an A3 sline BE, and they are quoting me £749 for a 36 month term. I got a quote from directgap.co.uk last night for £127 for the same term. I notice that Audi have put the £749 on my order. There is also a note on the order stating Asset protection subsidised in discount.
Timing wise, I have not agreed the exact deposit or monthly payments on the PCP yet, but I have given the dealer £500 deposit to hold the car. I have asked them to requote without the Gap Insurance.
I have not bought a private car for 15 years as I have been a company car user, so I'm a bit new to this. Any advise would be appreciated.

Removed it no problem whatsoever. As said above, no obligation to take it out and you can cancel right up until you sign the paperwork and even afterwards I believe on a cool down period.
 
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