Gap Insurance

dazz25 · 22 Apr 2013 at 21:59

Hi all,

My gf has just purchased a new car which she picks up at the weekend. I told her not to get the gap insurance from the dealer as they wanted a stupid amount (around £30pm).

So I've been looking at 3rd party cover and am getting a whole range of different prices which are all cheaper than the dealership.

So what I want to ask is are there any particular companies that are recommended and is there anything I need to look out for?

Cheers

Teledude · 22 Apr 2013 at 22:25

www.ala.co.uk I used as do others round here I believe

Type_R · 22 Apr 2013 at 22:27

Teledude said:
www.ala.co.uk I used as do others round here I believe

+1 they covered me and a friend. Definitely the best price out there, I paid 1/8th what BMW wanted

atpbx · 22 Apr 2013 at 22:28

Pinnacle is also one you could look at.

dazz25 · 22 Apr 2013 at 22:30

Just looked at ala.co.uk and they seem to be quite well priced and recommended by a lot of people. I'll give it a few days more searching but probably go with them.

Cheers

stoofa · 22 Apr 2013 at 23:09

I used ala.co.uk as well.
Cannot say if they are any good as I've not needed to claim off the policy. However the price was certainly right.

paradigm · 22 Apr 2013 at 23:23

Mine's with ALA too.

SHEDDER1uk · 22 Apr 2013 at 23:35

Intake it gap is worth doing on a new car then. Pick mine up Saturday and the quote from the link is 109 quid so pretty no brainer I suppose.

mattyg · 22 Apr 2013 at 23:40

Damn just paid £399 for 5 yrs worth.
3 yrs back to invoice with another 2 yrs to pay off finance.

Its well worth having though. After having my car written off in Dec. 2007 civic with over 130k and being worth about £4500 total payout over £13.5k

I'll have GAP on every car fro now on

Rotty · 22 Apr 2013 at 23:56

Lat time I had it on a new car the dealer started off at £200 and we finally agreed at £50

SHEDDER1uk · 23 Apr 2013 at 00:20

My dealer quoted me 399 quid for mine I did say it will take me 2 mins on Google to get it cheaper so no thanks.

NeoVo · 23 Apr 2013 at 00:55

Thanks for heads up on this, I was recently quoted £448 by the motor group.

Ala offering very comparable services for £87, bit of a joke really - I have a month to decide if I want to take the cover or not.

Still haven't decided if its worthwhile on a 5k car or not yet though.

dazz25 · 23 Apr 2013 at 08:04

Thanks for all the replies guys. Think i'm going to go with Ala.

I've just been looking and it gives me a choice between 'back to invoice' and 'vehicle replacement'. From what I understand one pays out the money up to the invoice price (after the insurance payout) and the other replaces the car with the same or similar based on whats available at the time.

Now...is there a better option out of the 2 or is it just down to what you prefer? I can see that the vehicle replacement cover costs slightly more but gives you the choice of taking the cash payout or replacing the car.

[TW]Fox · 23 Apr 2013 at 08:07

Totally depends on what the car is, how much it cost and what the expected depreciation is.

wingman · 23 Apr 2013 at 08:48

I play my face when dealers quote GAP insurance on a new car, and they've almost always dropped it to circa half price.

Sirrel Squirrel · 23 Apr 2013 at 09:10

I used https://gapinsurance123.co.uk/4/getaquote/ for mine, similar prices to ala by the looks of it.

[TW]Fox · 23 Apr 2013 at 09:32

wingman said:
I play my face when dealers quote GAP insurance on a new car, and they've almost always dropped it to circa half price.

Well that's still more than twice what you should be paying.

dazz25 · 23 Apr 2013 at 09:33

I just wanted to save the hassle as I knew it would be easier to find cheaper elsewhere. Looking at the quotes i'm getting even if they halved it I would still be paying more!

The car is just a Citroen C1. The list price was £9k but managed to get a 20% off so the invoice price is £7.5k (including trade in and deposit). Typical spec models around the 3 year old mark seem to be going for about £5-5.5k so hopefully it doesn't look like we'll take a massive hit depreciation wise.

So based on this I think it may be best if we take the replacement vehicle cover as a payout for the invoice price might not get us a new car with the same spec etc. It only works out £20 more for the 3 years anyway.

wingman · 23 Apr 2013 at 09:42

[TW]Fox;24165547 said:
Well that's still more than twice what you should be paying.

I paid £199 for 3 years on an £18k vehicle. I felt safer buying through the dealer rather than some online site. Dealer offered the GAP interest free for a year.