Gap insurance?

[Liquidfusion-S3]

The quote I got from them for GAP was steep, I might just go back and ask if they can price match.

How steep was it? I think they say they can price match anyone else and another 10% of the difference knocked off
Find the cheapest quote and get them to match, that's what I'm planning to do.

ALA meant to be one of the best

 

[Martinbanshee]

Andrew Warburton by any chance?

 

[CraigI]

No, female, can't remember her name.

 

[Martinbanshee]

I'll ask anyway, nothing to lose, don't mind buying elsewhere if I need to.

 

[Psyman79]

Andrew wasnt at all interested when i tried to get a deal.

Need to try harder next time i think.

 

[Martinbanshee]

He'll have to knock off about £230 to keep my business

 

[CraigI]

Is he quite a serious chap?
Think we bought my wife's car through him.

 

[Martinbanshee]

Yeah, sounds like him. Can't complain though, he was efficient, just need some movement on the GAP price.

 

[Bristle Hound]

After doing quite a bit of research on GAP insurance, I'll be getting it & getting it thro' ALA

 

[SuddsD]

My best contact at my dealer for the last ten years has yet again not let me down today and price matched ALA even having signed paperwork last weekend for the full rate of GAP - Happy days. Better to have it with the big boys than offshore independents.

 

[Liquidfusion-S3]

My best contact at my dealer for the last ten years has yet again not let me down today and price matched ALA even having signed paperwork last weekend for the full rate of GAP - Happy days. Better to have it with the big boys than offshore independents.

According to ALA, Audi underwriters ARE offshore in Spain.

ALA underwriters are UK based

http://www.ala.co.uk/back-to-invoice-plus.html

 

[SuddsD]

Well I'm sure ALA would not give a full refund if after a year you sell the car with no claims. Audi did

 

[SuddsD]

Anyway forums are here to help each other so each to their own - it's not a competition liquid . Yes ALA are oooop north in sunny Yorkshire. Like I say give & take and you get more help in return.
1year of owning the A5 and still get full refund from GAP and service/maintenance from Audi.

 

[Liquidfusion-S3]

Anyway forums are here to help each other so each to their own - it's not a competition liquid . Yes ALA are oooop north in sunny Yorkshire. Like I say give & take and you get more help in return.
1year of owning the A5 and still get full refund from GAP and service/maintenance from Audi.

I agree

 

[A3Kent]

I'm looking to setup some gap insurance through ALA using the Vehicle replacement policy. Do I give the invoice price before the Carwow discount was applied or the original full price?

 

[MA3RC]

I'd say give the full price, if your car were to be damaged beyond repair you'd want as much money back as possible to buy a new one. Who knows in 2 years time you may not get such a good deal as you have now, thus you'd have to buy a lesser replacement car / dip into your own pockets

 

[royalsteve68]

I put in the invoice pre-discount price as that is how much it will cost - your discount isn't guaranteed - otherwise you will be out of pocket by 5-10%

 

[A3_Rider]

Put the price after discount, i.e. the actual price you paid - they won't pay out the RRP, etc, only the actual amount you paid on the order form.

Just remember to check if your insurance is market value or replacement; if the latter then GAP is void so you're forced to wait for a replacement (I repeat this alot).

That being said; has ala ever paid out? :/

 

[A3Kent]

Put the price after discount, i.e. the actual price you paid - they won't pay out the RRP, etc, only the actual amount you paid on the order form.

Just remember to check if your insurance is market value or replacement; if the latter then GAP is void so you're forced to wait for a replacement (I repeat this alot).

That being said; has ala ever paid out? :/

Looks like you are right - https://gapinsurance123.co.uk/491/what-is-the-vehicle-price/

This lot appear to be more competitively priced than ALA.

If I can get replacement on my insurance then I don't need GAP?

 

[A3_Rider]

Sort of; You don't need it in the first year only, ALA allow you to start it one year ahead for that reason.

So you still need GAP within 6 months (or whatever the GAP insurer says) and can simply delay the start date.

Most insurers have stopped vehicle replacement but some still do. Mine is market value not replacement.

Search for ALA discounts I saved a bit doing that. I went with them because of the 5 year policy.

 

[A3Kent]

Sort of; You don't need it in the first year only, ALA allow you to start it one year ahead for that reason.

So you still need GAP within 6 months (or whatever the GAP insurer says) and can simply delay the start date.

Most insurers have stopped vehicle replacement but some still do. Mine is market value not replacement.

Search for ALA discounts I saved a bit doing that. I went with them because of the 5 year policy.

I spoke to ALA earlier and they said they can't start it one year ahead :

I’m afraid we don't offer deferred policies; our policies must be purchased within 180 days of the purchase date of the vehicle.The reason being, it is worth bearing in mind that while your motor insurer offers new for old cover for 12 months, there are instances when they can revert back to only paying you the current market value of the car at the time of the write off. This can be for various reasons including exceeding the annual mileage limit pro rata, the condition of the vehicle, if the vehicle has been stolen rather than being involved in an accident or if a replacement vehicle cannot be sourced with a certain number of weeks of the incident.If your motor insurer does only pay you market value then any deferred GAP policy will not pay out. One important thing to consider is, if your car is written off in the first 12 months and your insurer does replace it new for old – what would they do if lightening were to strike twice and that r
eplacement car is then written off? It is unlikely they would fully replace the car for you again and your GAP is still not providing you with cover.By no means is this the case with every claim or insurer, but it is a risk. For this reason we recommend that you have a GAP policy running alongside from the beginning and if your motor insurer does what they say they will do and replaces your car new for old in the first year then we would simply transfer the unused portion of your GAP policy over to the replacement vehicle at no additional cost. If they don’t replace your car new for old and only pay you the market value for your car then the GAP policy is there to pay upwards of their settlement.

Also she said she wanted the pre-discounted price , not the discounted price for her to be able to give me a quote

Confused

 

[A3_Rider]

Sorry you're right there is no defferal with ALA it was another insurer.

The rest of there statement is more a sales pitch.

Why are you confused?

If you want a GAP policy AND you have vehicle replacement insurance that's fine but you have to take the replacement in the first 12 months only.

If you want to defer you can also (if the GAP insurer lets you).

I ordered online and got a discount code online; 245 for 5 years.

 

[A3Kent]

I was confused about the deferral thing but we've cleared that up

I have had a quote from Allianz (Who Audi use I think). They seem to be one of the cheapest at the moment and offer New Car Replacement:

Replacement car
If your car is;
stolen and not recovered within 28 days of you reporting the
theft to us; or
damaged to the extent that the cost of repair is more than
50% of the United Kingdom list price (including vat) of an
identical new car at the time of loss or damage;
we will, at your request, replace your car with a new one of
the same make, model and specification.
We will only do this if:
l you have owned your car (or you have hired it under a
lease hire or hire-purchase agreement) since it was first
registered as new;
l your car is a United Kingdom specification model bought
from one of the manufacturer’s authorised United
Kingdom dealers;
l we have your permission (or the hire-purchase
company’s permission) to replace your car; and
l the loss or damage occurs before your car is one year old
and the model is still available from the manufacturer’s
authorised United Kingdom dealers. If not, then we will
settle your claim by paying you the equivalent cost of
replacing your car with one of the same make, model
and specification.

If I got this and got GAP I should try and defer my GAP insurance by a year? 123Gap can offer this, ALA can't. 123Gap are also about £50 cheaper

 

[A3Kent]

I got that price via GoCompare and looking through all the other prices, they all seem to offer New Car Replacement? Churchill and Privilege are 2 others.

 

[A3Kent]

Ok, I've just spoken with Allianz and the Car Replacement isn't New Car Replacement so I'd need to get GAP to start in year 1 wouldn't I?

 

[A3_Rider]

Ok, I've just spoken with Allianz and the Car Replacement isn't New Car Replacement so I'd need to get GAP to start in year 1 wouldn't I?

"we will, at your request, replace your car with a new one of
the same make, model and specification."

Did you explain to them its a brand new model less than a year old? Seems to contradict the statement above unless the advisor thought the car is more than 12 months old.

Remember you'll have to go through the same waiting period without a courtesy car, so if its 5 months its 5 months.

 

[A3Kent]

Yeah sorry, you are right. The bottom line is that they will give me a new car in year 1.

Should I go 123gap and defer it until year 2?

 

[A3_Rider]

Well, from my understanding if you had GAP in year 1 and something did happen, GAP cannot be used. Just be sure your policy wording is right.

If you're insurer paid market value and not vehicle replacement, then you need GAP to start right away.

All in all hopefully you'll never have to use it

 

[Andyh1873]

Spoke to my insurance company today, They cover new for old for the first year of a brand new car. So gap insurance should be deferred for the first year and then cover a max of 4 additional years.
I'll be taking my gap insurance out with 123gap, saving £272 from Audi.

 

[Nawaid]

After doing quite a bit of research on GAP insurance, I'll be getting it & getting it thro' ALA

Hey topman, going to use ALA but which policy to take. I'm thinking RTI, just incase the family grows and the S3 becomes small.

 

[Nawaid]

My insurance company says 'You’ll get a new car replacement where your car is less than 12 months old and you’re the first and only registered keeper, if the insurers deem the car a total loss'.

Can I still get RTI Gap Insurance?

 

[Double V]

So if my car is worth £35000. How much claim limit should I have when buying RTI GAP insurance ?
4 year PCP plan.

 

[Psyman79]

I went for the full £25k cover although you'd be fine with £20k as GFV will probably be about £17k over 4 years. I'd personally go for vehicle replacement over RTI as you'll get a bigger payout if the worst does happen.

 

[Double V]

Thanks for reply.
I am all new to this.
Could you please explain the difference between two.

And does vehicle replacement also leave me some cash to put towards new car in an unfortunate situation ?

Which one should i go for?

 

[Dtwm1]

RTI (return to invoice) pays the difference between what the insurers pay and the price you paid for the car

Vehicle replacement pays the difference between what the insurers pay and the cost of a new car at the time of the claim.

Basically it protects you from price rises etc, an s3 that costs £32,000 today might be £35,000+ in 3/4 years time. Personally I have vehicle replacement as its not much more and gives additional peace of mind.

 

[Psyman79]

RTI (return to invoice) pays the difference between what the insurers pay and the price you paid for the car

Vehicle replacement pays the difference between what the insurers pay and the cost of a new car at the time of the claim.

Basically it protects you from price rises etc, an s3 that costs £32,000 today might be £35,000+ in 3/4 years time. Personally I have vehicle replacement as its not much more and gives additional peace of mind.

Add to that the fact that RTI won't cover any discounts you've managed to get. On this example above say the car price was £32k and you got a £2k discount, RTI would pay up to £30k as that is the invoice price you paid, whereas vehicle replace would pay up to £32k (or whatever the full cost to replace is)

 

[Psyman79]

And does vehicle replacement also leave me some cash to put towards new car in an unfortunate situation ?

As an example, lets say this same £32k car was written off in 2 years, you've made your payments and the outstanding finance is now £26k. Car is valued at £24k by insurance. In the eyes of the insurance company you are now £2k in negative equity in order to settle the car finance.

GAP pays out above what the insurance valuation is, in this case £8k (replacement value - insurance value) £2k of this goes to settle the finance and the remaining £6k effectivly goes towards the deposit on the new car.

Hope that helps clear things up.

Si

 

[greasy Thumb]

Just got my gap from autotrader aka ALA. 230 3 year veichle replacement. Audi would not match it for some reason

 

[Psyman79]

Audi only offer RTI GAP, something to bear in mind.

 

[Dtwm1]

Just got my gap from autotrader aka ALA. 230 3 year veichle replacement. Audi would not match it for some reason

ALA always have some sort of offer on cash back websites and also match and beat like for like quotes by 20%. Gap123 is nearly always cheaper so worth getting a quote and asking ALA to match if you decide to use them