GolfGTIforum.co.uk
Model specific boards => Golf mk6 => Topic started by: Snoopy on 10 April 2010, 17:14
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What GAP insurance company did you go with?
I think this has been asked many time before :embarassed: but
Im looking for back to invoice GAP.
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I used Gap4U £214 for 3 years. Depends on how long you're going to keep the car.
Gizzy
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I used Gap4U £214 for 3 years. Depends on how long you're going to keep the car.
Gizzy
I did not bother.
Another extra expense.
I am keeping the car for 2.5 to 3 years and then I will get the Mk7 GTi.
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I think this has been asked many time before :embarassed: but
Im looking for back to invoice GAP.
Asked many a time snoopy. Probably better to search for it as you will get a lot more answers.
The cheapest for me was ALA insurance http://www.ala.co.uk (http://www.ala.co.uk)
Really depends how much you want to take out, remembering that your insurance company will pay the book price so the GAP makes up the difference.
£15,000 for 3 years was £167 plus another 10% off if you go via quidco.com
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got the VW one from the dealer for free
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Depends on how long you're going to keep the car.
As long as the car lasts. So i hope a very long time.
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I always thought GAP was a waste of time... as I've never known anyone who has written off a car.
Unfortunately the first person I knew, was ME! Some careless tw@t ran into the back of me and wrote off my ED30 - with £18500 damage to it! The result was me being £7000 down.
My dealer does a return to invoice GAP that covers things like stolen with keys - for about £300.
I'll be taking that - or maybe having a look for cheaper so that I can haggle with him!
I'll definately be taking some form of it!
I have over £5000 of extras on the car and also got a discount / 2009 prices / no VAT increase / no showroom tax.
The standard insurance would give me BOOK PRICE - which doesn't include extras or factor any of those things into account. I'd probably be over £8000 down if I wrote the car off on my way home from the dealer!!! :sick:
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p3eps:
Yes a have written 3 cars off but none was my fault. My insurance company managed to retrieve all the funds required for me to get 'new' cars!
But this was many moons ago.
Things are tougher now.
Yes, you have made me think again about GAP. I can get it for £200 pounds and after this post from you, I think I will on Monday!
Thanks. :smiley:
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£200 wow.
What maximum gap payout have you put in for that?
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Got gap cover through my dealer £25k cover over 4 years for £250... Prob not the best deal out there but gives me peace of mind!
I also looked closely at ala... But a word of warning look carefully at the small print! The ala policy I looked at (back to invoice plus) had a maximum payout 105% of Glass’s Guide retail price... So if the car was written off (depending on spec) it would not cover all options.
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£200 wow.
What maximum gap payout have you put in for that?
I'll post details on Monday. :smiley:
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I used Car2Cover.com
http://www.car2cover.co.uk/
£172 for 3 year & £15,000 limit
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I used Car2Cover.com
http://www.car2cover.co.uk/
£172 for 3 year & £15,000 limit
Just noticed they also do tyre insurance! £234 for 3 years which covers up to 5 replacement tyres. Thats like the cost of one and a half tyres! They cover malicious damage and have no wear and tear excess... so you could theoreticly 'slit' your worn down tyre and claim a replacment!
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Just noticed they also do tyre insurance! £234 for 3 years which covers up to 5 replacement tyres. Thats like the cost of one and a half tyres! They cover malicious damage and have no wear and tear excess... so you could theoreticly 'slit' your worn down tyre and claim a replacment!
How worthwhile but a bit bizarre.
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http://www.directgap.co.uk/
I did RTI on a new BMW 1 series, £118 for 3 years with 10k. No point in putting in 25k cos you only need to cover the difference between the insurance payout and what you owe on the car blah, blah, blah.
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My invoice is going to say something around £35k - and the prediction is that it'll be worth about £16k in 3 years time... so I'll need £20k worth of GAP just incase!
When you look at depreciation of £20k over 3 years - you wonder why you buy a new car at all!!
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Just noticed they also do tyre insurance! £234 for 3 years which covers up to 5 replacement tyres. Thats like the cost of one and a half tyres! They cover malicious damage and have no wear and tear excess... so you could theoreticly 'slit' your worn down tyre and claim a replacment!
Yes, I looked into that too, but missed out :cry:
If anyone's interested be aware that you have to take the cover out within 7 days of purchase and first 100 miles
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If anyone's interested be aware that you have to take the cover out within 7 days of purchase and first 100 miles
How do THEY know if you've done over 100 miles?!
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Am i right in saying that some insurance companies actually do return to invoice for the first year anyway?
(EDIT - On new cars)
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Am i right in saying that some insurance companies actually do return to invoice for the first year anyway?
I think most insurance companies will give you a brand new car, if yours is written off in the first 12 months (from new), which is even better than RTI GAP.
However to get GAP insurance you need to take it out within 3 or 6 months of buying your car.
The thing about GAP on a car like like the GTi and R is that these cars are stolen quite frequently (just have a look on the forums :angry:) and you don't actually pay any more for GAP insurance than you would for a much less nickable car like a Hyundai or Kia :laugh: For that reason and IMHO, GAP on the GTi and R is a bit of a no brainer at these prices.
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Am i right in saying that some insurance companies actually do return to invoice for the first year anyway?
I think most insurance companies will give you a brand new car, if yours is written off in the first 12 months (from new), which is even better than RTI GAP.
However to get GAP insurance you need to take it out within 3 or 6 months of buying your car.
The thing about GAP on a car like like the GTi and R is that these cars are stolen quite frequently (just have a look on the forums :angry:) and you don't actually pay any more for GAP insurance than you would for a much less nickable car like a Hyundai or Kia :laugh: For that reason and IMHO, GAP on the GTi and R is a bit of a no brainer at these prices.
Completely agree!
I'm not going to go with the dealer option by i'll take out a policy with one of the the companies mention in this thread.
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There's another GAP insurance thread kicking about in the mk5 section (I think) which might mention a couple of other companies to try too, but directgap was the cheapest I found when I was looking. BMW wanted something like £400 - £500 for 3 years gap and they wanted £300 for tyre insurance when we bought a new car. Yeah right. :laugh:
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Am i right in saying that some insurance companies actually do return to invoice for the first year anyway?
(EDIT - On new cars)
Mine does not they said so when i took out the policy its another reason im looking into it.
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Directgap.co.uk for me about £140 3years/£10'000 cover which should be enough.
Davie
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I have just recently written off my MK5 Golf GTI, unfortunately I got a huge discount on list price and covered the vehicle with www.directgap.co.uk on a RTI policy for £18,300.
The insurers have paid out £15,000 and directgap paid me out £3,300 under the policy within 5 days. I am lookling to replace my car with a new GTI and they have offered me a vehicle replacement policy. This apparently covers any discounts and gives you a new car if you write it off? Has anyone else any experience with this type of policy?
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I got my gap insurance from ALA as well. £123 for cover plus 25% cash back from Quidco, meant I got it for £93.
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Got gap cover through my dealer £25k cover over 4 years for £250... Prob not the best deal out there but gives me peace of mind!
I also looked closely at ala... But a word of warning look carefully at the small print! The ala policy I looked at (back to invoice plus) had a maximum payout 105% of Glass’s Guide retail price... So if the car was written off (depending on spec) it would not cover all options.
You don't need 25K of cover, as stated by others and as the name implies, you only need to cover the GAP between what your insurance will pay you and the cost to replace as new.
In any case I think it's a waste of money, as your car is depreciating all the time if you sold it you would only get market price at the time anyway, you wouldn't expect to get the full new price, so if you get my meaning, you are not really losing anything as such if you don't have GAP cover.
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^It's only a waste of money if you never write the car off, which we all hope we never do! However, if it happened to me i'd rather have a brand new car than whatever i could afford with the insurance payout! For what it costs for GAP i think it's worth it.
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^It's only a waste of money if you never write the car off, which we all hope we never do! However, if it happened to me i'd rather have a brand new car than whatever i could afford with the insurance payout! For what it costs for GAP i think it's worth it.
I hear what you are saying Jimble, but you miss my point I think. Let's say for example your car cost £28K and at 12 months old it is worth £25K, what's the difference between selling it for £25K or getting £25K off the insurance company if it's written off? There isn't any difference, so if you get my point, you are not really losing anything, you are just getting what the car's worth.
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^i might be missing the point tbh, it's still early! But lets say you write the car off after 2yrs and 10months and you've got 3 year 'return to invoice' GAP, your car would be worth 14grand at best but with gap you'd get the 25k back that you paid and it's only cost about an extra £200. Of course if you sell the car then it makes no difference and you'll only get what it's worth.
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RickS, I understand what you meen.
But what if you don't want to sell the car in a years time, or 2 years or 3 or 4 years. The extra cost to my pocket of having to replace the car if its wrote off is an expense i don't want.
Yes i could buy secondhand replacment (be luckie if insurance company gives you enough to buy an equivelent secondhand anyway (been there had to do this) but i will keep it simple and ignore this fact for now).
With secondhand you don't know how that cars been treated. It could have a hidden past, it could like alot of them on here be owned by someone who does not know what a dipstick is or how to use it. Driven by a boyracer and thrashed tobits. etc etc. For £50 a year i get the peace of mind until my car is 4.5 years old.(i took it out late so 4.5 instead of 4)
Back to the value thing, insurance companys in my time and involvment have never offered what a used cars going for at private level never mind dealer level. It took me 6 months to settle with a car i had wrote off and they still did not give me enough to cover the cost of a replacment even after about 100 letters and copies of adverts etc etc. I drove an old banger for 2 years during and after that till i saved enough to be able to buy something newer again and this has happened to me more than once.
The thing will GAP is your insurance company makes an offer and the GAP people then cover the difference, non of this 6 months of hassle trying to get more out of them. That to me is worth £50 a year.
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GAP insurance is an insurance for people who have finance on a car. Example, brand new car costs you 25k, you pay for it monthly, in 18 months time you write it off, at this point it's only worth 18k. Insurance only give you 18k to replace your car but you still have outstanding finance of say 22k. So, you have to buy a car worth 18k that you actually owe 22k on. Yes, the car you owe 22k on is now only worth 18k, but for the sake of £200 or so over three years, you may as well get a new car if the worse happens, or a car that's worth what you owe on finance.
As with most insurance, it's a gamble, if you don't need it it's a waste of time, but if you do, it isn't. :wink:
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Its not just for finance anymore. Thats why they intoroduced back to invoice and replacment GAP.
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Fair point. But you catch my drift.
Personally, whenever buying a new car I would get GAP insurance. Seems silly not to in my opinion, but each to their own. :afro:
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Wasn't there someone on here who was in their 3rd year of ownership when their MKV GTI was written off?
They got the full price back for their car and bought a MKVI.
That would certainly be worth the GAP payment.
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Wasn't there someone on here who was in their 3rd year of ownership when their MKV GTI was written off?
They got the full price back for their car and bought a MKVI.
That would certainly be worth the GAP payment.
Maybe was this one as its the one i remember.
Yes return to invoice Gap Insurance is a must for me,
1st new car i bought was a mk5 gti for 26k 18mnths later got wrote off in the floods, insurance co paid 18.5k for the car and gap insurance paid out another 7.5k so got a new R32 happy days, 18mths free motoring and a new R32 :laugh: :laugh:
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Yes Snoops, you make some good points, and you could have convinced me; unfortunately it appears that you can only purchase GAP insurance if you have owned the vehicle for up to 180 days which leaves me out. [Only looked at 2 on the web but I bet they are all the same]
Also, a word of warning to all you "re-mappers" out there with GAP cover; they won't pay out if the vehicle has been modified in any way.
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Nice work Snoopy. This example makes it a must for me. Taking delivery in March so going shopping for GAP now.
Wasn't there someone on here who was in their 3rd year of ownership when their MKV GTI was written off?
They got the full price back for their car and bought a MKVI.
That would certainly be worth the GAP payment.
Maybe was this one as its the one i remember.
Yes return to invoice Gap Insurance is a must for me,
1st new car i bought was a mk5 gti for 26k 18mnths later got wrote off in the floods, insurance co paid 18.5k for the car and gap insurance paid out another 7.5k so got a new R32 happy days, 18mths free motoring and a new R32 :laugh: :laugh:
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What GAP insurance company did you go with?
I think this has been asked many time before :embarassed: but
Im looking for back to invoice GAP.
The one which VW insisted on......the AA
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Yes Snoops, you make some good points, and you could have convinced me; unfortunately it appears that you can only purchase GAP insurance if you have owned the vehicle for up to 180 days which leaves me out. [Only looked at 2 on the web but I bet they are all the same]
Also, a word of warning to all you "re-mappers" out there with GAP cover; they won't pay out if the vehicle has been modified in any way.
That was my mk5 that was written off and it was remapped, carbonio, milltek, reiger body kit,
Nobody ever questioned it ? maybe i was lucky? :wink:
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£217 for £20,000 over four years on a GTD. Good value.
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http://www.directgap.co.uk/
Return to invoice 3 years £141
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Mine's with ALA insurance - £119 and £29.75 cashback (via Quidco) - back to invoice for 3 years for only £90!
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Click to protect - GAP + SMART Insurance 300 Sterlings