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Thread: GAP Insurance... worth it?

  1. #1
    Master
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    GAP Insurance... worth it?

    Looking at a new motor.

    So the dealer has put some extra insurances on the quote.... are they worth it or what?

    Alloys/Wheels £400
    Dents/scratches £400
    New-for-Old GAP Insurance £400

    I don't know if this effects the answers but it's on PCP.

    Advice please.

    Steve

  2. #2
    Grand Master Mr Curta's Avatar
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    I doubt it's worth it at those premiums

  3. #3
    Master -Ally-'s Avatar
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    The dealer offerings are never cheap.

    I’ve always taken GAP insurance out separately at a much lower cost.

    https://www.ala.co.uk

  4. #4
    Grand Master Griswold's Avatar
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    Quote Originally Posted by -Ally- View Post
    The dealer offerings are never cheap.

    I’ve always taken GAP insurance out separately at a much lower cost.

    https://www.ala.co.uk
    Another vote for ALA The dealers offer is way too expensive.

    Edited to say ALA offer two type of GAP insurance, difference between what you paid for the car and what your insurance company pay you for a write off, and difference between what you would have to pay to replace your current car, (or equivalent), with the same/similar model at 'today's' price and what your insurance company pay you for a write off. I take the latter as the premium wasn't excessive for the benefit of the additional cover.
    Last edited by Griswold; 18th June 2018 at 12:56.
    Best Regards - Peter

    I'd hate to be with you when you're on your own.

  5. #5
    Master smokey99's Avatar
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    I've recently done the same but only went for the alloy wheel insurance for my S4 Avant. The wheels were a £1200 upgrade (at list) so I thought it was worth protecting them

    Audi dealer was £300 not £400 and got them down to £250 for a 3 year deal, with no excess payments and which covers diamond cut alloys.......not all providers cover them.

    First repair is due this week after wife scuffed both passenger side wheels in 1st trip last month. Only then will I know whether it was truly worth it!

  6. #6
    Quote Originally Posted by -Ally- View Post
    The dealer offerings are never cheap.

    I’ve always taken GAP insurance out separately at a much lower cost.

    https://www.ala.co.uk

    This, worth it but not from a dealer,

  7. #7
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    £1200 for 'extras' on top of your insurance? !!!

    That's ridiculous.

    GAP is a good idea, but shop around.

    Scratches & wheels (kerbed) it's going to happen and usually such a minor thing I wouldn't bother. Most scratches can be buffed out with a polishing mop, and the wheels can be refurbed for about £25 a corner once they are bad enough.

  8. #8
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    Quote Originally Posted by smokey99 View Post
    I've recently done the same but only went for the alloy wheel insurance for my S4 Avant. The wheels were a £1200 upgrade (at list) so I thought it was worth protecting them

    Audi dealer was £300 not £400 and got them down to £250 for a 3 year deal, with no excess payments and which covers diamond cut alloys.......not all providers cover them.

    First repair is due this week after wife scuffed both passenger side wheels in 1st trip last month. Only then will I know whether it was truly worth it!
    Actually this is also an Audi... so they'll haggle then? Right I'll try that tack.

    Just about to get rid of the Polo (trade in) and if I'd have had equivalent polices over the last 2.5 years then I would have claimed for a kerbed alloy, nail through a tyre (so a new tyre, especially annoying as the tyre was only 3 months old), nasty scratch on the tailgate due to someone parking a push bike in the middle of the garage, several paint chips (not sure on the limit but generally seems to be two chips per year). So I think the paint/wheels/bodywork are probably worth covering but perhaps not for £800.

    The gap insurance sounds a good plan i.e. new for old even if the model is more expensive now but again, perhaps £400 is a little OTT.

    Actually just doing the rounds for insurance quotes and they're making me gulp :-(

    So I've had Lotus and Porsche before and never paid more than £200. Just done the Aviva online thing (I'm with them currently) and over £840!!! Cheapest through the various web sites if c. £340. Goof grief! This is after also discovering my car tax is going to be £450pa

  9. #9
    Master
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    Just tried ala and they're no better than the dealer!

    The dealer offer is for 4 years. ala has just quoted £1162 for 3 years! In that case stick with the dealer though I will try a little haggling ;-)

  10. #10
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    pm me your details and I'll get you a sensible quote with a product (GAP) I have sold for years. I sell via high street insurance brokers so there is bound to be one near you.

  11. #11
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    Quote Originally Posted by solwisesteve View Post
    Just tried ala and they're no better than the dealer!

    The dealer offer is for 4 years. ala has just quoted £1162 for 3 years! In that case stick with the dealer though I will try a little haggling ;-)
    value of vehicle and length of pcp needed

  12. #12
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    Quote Originally Posted by redmonaco View Post
    value of vehicle and length of pcp needed
    £40000, 4 years.

  13. #13
    Master
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    I understand that often your motor insurance will cover new for old for the first year, ours did so we took out a gap insurance but deferred the start date for 12 months, which effectively gave us an additional years cover foc.

  14. #14
    Master senwar's Avatar
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    Quote Originally Posted by solwisesteve View Post
    £40000, 4 years.
    Are you quoting for the full amount? i.e. value of car?

    You wouldn't do this usually - could be why high price with ala?

    Ala far better than anywhere else - dealer 'cover' policies are always stupidly priced. i've only ever taken one once when I managed to eventually get it thrown in for free on my Z4M coupe after they originally wanted £750 for the policy

  15. #15
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    Quote Originally Posted by senwar View Post
    Are you quoting for the full amount? i.e. value of car?

    You wouldn't do this usually - could be why high price with ala?

    Ala far better than anywhere else - dealer 'cover' policies are always stupidly priced. i've only ever taken one once when I managed to eventually get it thrown in for free on my Z4M coupe after they originally wanted £750 for the policy
    Yes.... the website asked for the new price so that's what I gave. Then it suggested £25K cover.

    I hate to sound like I'm winging but it looks like the 'extras' (insurances/tax/insurance) are adding up to perhaps £20 a week and I'm pretty close to throwing the towel in and going back to plan A (Golf R). In fact I'm going to pop into the VW dealer on the way home and see what they have to say.

  16. #16
    Master senwar's Avatar
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    Quote Originally Posted by solwisesteve View Post
    Yes.... the website asked for the new price so that's what I gave. Then it suggested £25K cover.

    I hate to sound like I'm winging but it looks like the 'extras' (insurances/tax/insurance) are adding up to perhaps £20 a week and I'm pretty close to throwing the towel in and going back to plan A (Golf R). In fact I'm going to pop into the VW dealer on the way home and see what they have to say.
    I presume you've gone for return to invoice as the quote as well, so you get the full amount back regardless of the age? Last time I used ala it cost me £190 for 3yrs for a TT coupe (price was £37k new IIRC).

    What car is it if you don't mind me asking? Unless RS, can't see an Audi being that much more to insure etc than a Golf R?

  17. #17
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    I’d look at what 4 year old manufactures approved one are going for now, and insure for current otr price inc accessories less the 4 year old price and plus 10% for error.

    Is that around the suggested 25k?

  18. #18
    Master
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    So the dealer has put some extra insurances on the quote.... are they worth it or what?

    Alloys/Wheels £400
    Dents/scratches £400
    New-for-Old GAP Insurance £400
    Exactly what Evans Halshaw tried to add to mine a few weeks ago + Extra Warranty

    I looked at GAP elsewhere and it was only £179.

  19. #19
    Craftsman
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    Mine was about £180, I was offered 3 levels of cover, worked out about £110, £150 or £180 on a 28k car for 3 years

    Can’t remember the exact details of the cover but didn’t seem enough of a difference to skimp


    Sent from my iPhone using Tapatalk

  20. #20
    Seem to remember I paid £200 or so for my wife’s fiesta as a one off payment. Over the 3 years of the pcp. None of this fancy alloys cover etc, having lived in London with all the kerb heights and speed bumps etc I avoid anything low slung or flashy - in fact if they did a steel wheels option I’d probably take it!!


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  21. #21
    Master Alex L's Avatar
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    Use Piston12 for 12% discount with ALA.

    I've used them to cover the GAP (return to invoice) on three cars I've bought this year - one of which was a new Audi RS

  22. #22
    Journeyman
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    Ala price match so that way you get to use a good company at reasonable rates. They price match for me yesterday dropping by quite a bit



    Sent from my iPhone using Tapatalk

  23. #23
    Master
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    Thanks for the advice.

    I've told Audi to remove these 'extras' from the order. I'm actually popping into the dealer later on so I'll have it out with them then i.e. drop the price a lot or I'll get these options elsewhere.

  24. #24
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    If I had Alloy insurance, I'd have bankrupted the company already by now... my Alloys are more scratch than smooth! In fact, you'd be hard to find more than a few inches of scratch or gouge free metal :-)

  25. #25
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    Quote Originally Posted by ach5 View Post
    If I had Alloy insurance, I'd have bankrupted the company already by now... my Alloys are more scratch than smooth! In fact, you'd be hard to find more than a few inches of scratch or gouge free metal :-)
    If I'm honest I like the idea of the extra insurance and I would probably end up using them (except gap) but if I can get the same cover cheaper then that would be even better :-)

  26. #26
    Master senwar's Avatar
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    Wherever you go check the T&Cs.

    You’re only allowed a couple or three claims if I remember correctly (wheels), some types aren’t covered (diamond cut in some cases). As with all insurance they have ways of not paying out.

  27. #27
    Master
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    Just an update.... I was in Audi again yesterday for an hour. A much better discussion was had. I find it a lot easier to 'talk turkey' without SWMBO sitting there insisting I be polite and subservient! So I left VERY happy. Substantial discounts on both the car and the 'extras'. I eventually got nearly 50% off the RRP for the extra insurances; I'm fine with that. I used the info and knowledge supplied here as a guide and it worked out well. Thanks for the advice given.

  28. #28
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    If it was added to the pcp deal then I bet there happy as well.






    Sent from The land of hope and glory.

  29. #29
    Master
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    Quote Originally Posted by Volvomanuk View Post
    If it was added to the pcp deal then I bet there happy as well.
    Nope ;-) I paid cash for the insurances.

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