GolfGTIforum.co.uk
Model specific boards => Golf mk7 => Topic started by: AntGTD on 15 February 2016, 08:45
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Guys,
With my build week fast approaching (next week) and collection next month I need to start looking at GAP insurance. VW have quoted me £395 for return to invoice, there are other options like gapinsurance.co.uk directgap etc but having never had GAP insurance I would like the views of members who have taken it out elsewhere.
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Try ALA. ALA are an insurance broker, and the GAP product they offer is underwritten by Ageas Insurance.
https://www.ala.co.uk
If you use discount code VP10 in the promotional code box, you'll get a 10% discount off their normal price.
I think you'll do much better than VW's price which includes their excessive commission mark up. ALA also do vehicle replacement plus, which is a better level of cover than return to invoice; details are provided on their website.
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ALA
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Thanks :)
With a possible additional 10% cashback via quidco I could be onto a winner here!
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A decent insurance policy will come with one years gap insurance as standard for a new car. That will save you a few pounds until you reach years two and three.
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A decent insurance policy will come with one years gap insurance as standard for a new car. That will save you a few pounds until you reach years two and three.
Most Gap insurance providers will make you buy before the car is 6 months old, and will not let you defer.
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Thanks :)
With a possible additional 10% cashback via quidco I could be onto a winner here!
ALA ...... Cashback and 10% don't work together it's either one or the other. Better going for 10% off just in case quidco doesn't track
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Thanks :)
With a possible additional 10% cashback via quidco I could be onto a winner here!
ALA ...... Cashback and 10% don't work together it's either one or the other. Better going for 10% off just in case quidco doesn't track
When I arranged mine, ALA and 1234 were about the same price for the standard GAP but 1234 were significantly cheaper than ALA for the GAP+. I went the price match minus 10% playing ALA off 1234 for the GAP+, that brought GAP+ within £6 of the originally quoted ALA standard GAP price, and way better than a 10% discount off their price for GAP+.
Food for thought....
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A decent insurance policy will come with one years gap insurance as standard for a new car. That will save you a few pounds until you reach years two and three.
What he says :grin:
I looked into this a while back and found loads of companies offering deferred GAP as generally your insurance cover will offer return to invoice in the first year if you are the first owner (not pre registered)
In the end though I went with ALA although I'm not quite sure why :laugh:
https://car2cover.co.uk/gap-insurance/deferred-gap-insurance/
https://gapinsurance123.co.uk/437/deferred-gap-insurance/
https://easygap.co.uk/131/deferred-rti-and-vri
https://www.directgap.co.uk/utility-pages/deferred-gap-insurance-policies/
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A decent insurance policy will come with one years gap insurance as standard for a new car.
No it won't - read the small print, it will undertake to replace your car with a new one only 'if such as car is readily available'. For the Golf in many cases it will not be readily available and the insurer will revert to market value. Do not make the mistake of thinking 'new car replacement' in a conventional insurance policy is a substitute for GAP - it isnt.
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A decent insurance policy will come with one years gap insurance as standard for a new car.
No it won't - read the small print, it will undertake to replace your car with a new one only 'if such as car is readily available'. For the Golf in many cases it will not be readily available and the insurer will revert to market value. Do not make the mistake of thinking 'new car replacement' in a conventional insurance policy is a substitute for GAP - it isnt.
Mark, my Esure policy says they'll provide an exact replacement. If that's not available they will give me what I paid, including options and accessories (or list price if that's less, which it won't be of course). Isn't that the same as RTI cover from a GAP policy?
Bubba.
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My insurance company will replace the car for a new one if it's written off in the first 2 years - it's a real bonus that I hope not to have to use
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Mark, my Esure policy says they'll provide an exact replacement. If that's not available they will give me what I paid, including options and accessories (or list price if that's less, which it won't be of course). Isn't that the same as RTI cover from a GAP policy?Bubba.
If thats the case then its a rare policy and worth having! Most are very restrictive in terms of what they will do to replace the car and the wary should check the policy wording very carefully before rejecting a stand alone GAP policy.
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Taken out a back to invoice policy today with ALA, £122 seemed good value and peace of mind for 3 years. Hope I don't have to use it though!
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Why did you not go for New car replacement? 'Back to invoice' is a bit of a waste of time really as you are paying for the policy, plus normal insurance and if you had a claim two years down the lien would most likely still need to add money to replace the car...
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I did consider that but since I've never bothered before I decided back to invoice was good enough. There is a cooling off period though should I change my mind and want to upgrade. I wouldn't say it was a waste of time though, far from it, it'll ensure all the money I've laid out will be returned to me then I can spend it as I want.
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Maybe 'waste of time' was a bit strong - but in my opinion RTI just does not do the job that GAP was designed to do because the vehicle list price will have risen in the meantime.
Of course it is much better than just relying on normal insurance. I guess my argument is basically that if you going down the GAP route you may as well get the version of it that performs the best.
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I don't entirely disagree with you, I may even have a re-think. Possibly just my frugal side coming to the fore :rolleyes:
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just used ALA for my gap insurance
I took out invoice plus £162 for 3 years max claim £20,000
discount code VP 10 is still active saves 10% :smiley:
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I've just been looking at ALA GAP insurance and not sure what cover to go for.
It asked for car value and I assume this means the cost of the car before any discount you negotiated or am I wrong?
I've looked at vehicle replacement cover and it asks what level of cover you need, it defaults to £17500. Is this enough?
It's all a tad confusing and I don't want to pay for cover that's not necessary.
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I've just been looking at ALA GAP insurance and not sure what cover to go for.
It asked for car value and I assume this means the cost of the car before any discount you negotiated or am I wrong?
I've looked at vehicle replacement cover and it asks what level of cover you need, it defaults to £17500. Is this enough?
It's all a tad confusing and I don't want to pay for cover that's not necessary.
I've just sorted mine, I inputted the full on the road price for car value, I manually upped the cover to £20000 to be safe as it only added £1 to the premium.
I took out vehicle replacement plus and the premium was £186.30 using the discount code VP10.
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I've just been looking at ALA GAP insurance and not sure what cover to go for.
It asked for car value and I assume this means the cost of the car before any discount you negotiated or am I wrong?
Yes, the car value should be list price and not be reduced to reflect any discounts you may have negotiated.
I've looked at vehicle replacement cover and it asks what level of cover you need, it defaults to £17500. Is this enough?
It's all a tad confusing and I don't want to pay for cover that's not necessary.
Worth clicking on the blue boxes with the question mark mext to the various data input fields as they provide more information. Based on the information you have input, the £17,500 figure is ALA's assessment of the level of cover required so that motor insurer's claim settlement plus GAP policy payout would be adequate to fund the purchase of a new car of the same model and spec as yours at the time of total loss.
If you feel that £17,500 isn't an appropriate figure, you can select an alternative amount from the drop-down pick list, and the premium will be adjusted to reflect the revised figure.
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I've just been looking at ALA GAP insurance and not sure what cover to go for.
It asked for car value and I assume this means the cost of the car before any discount you negotiated or am I wrong?
I've looked at vehicle replacement cover and it asks what level of cover you need, it defaults to £17500. Is this enough?
It's all a tad confusing and I don't want to pay for cover that's not necessary.
I've just sorted mine, I inputted the full on the road price for car value, I manually upped the cover to £20000 to be safe as it only added £1 to the premium.
I took out vehicle replacement plus and the premium was £186.30 using the discount code VP10.
Thats exactly what I did and I received the same quote. I'll sort it out tomorrow.
Thanks for all the replies
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Pretty sure they use invoice price.
Then, if you get the vehicle replacement plus and wrote the car off, they'd pay the difference between invoice and on the road (or whatever negotiated price for a replacement).
If you try and claim OTR price for their normal return to invoice cover, could that not potentially be classed as fraud?
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Pretty sure they use invoice price.
Then, if you get the vehicle replacement plus and wrote the car off, they'd pay the difference between invoice and on the road (or whatever negotiated price for a replacement).
If you try and claim OTR price for their normal return to invoice cover, could that not potentially be classed as fraud?
I thought the whole point of vehicle replacement plus was they made up the difference for you to buy exactly the same vehicle.
Say you have bought a VW recently with the £1000 loyalty and £1250 pcp contribution that put the price of the car down to £24,000. If you put that as the vehicle price value for GAP and your car gets stole and those financial contributions have stopped then you would effectively still be out of pocket by £2250 plus any discount you had received.
Would they not be at liberty to say to you "Well £24,000 is what you told us the car costs to replace"
The more you put as an invoice price the more the cover costs so you are actually paying for it.
Taking it to the extreme, imagine you had bought a car at half price because you were the 100,000th customer!! :shocked:
As far as I know they just pay you by cheque for the difference so you can go and get any car you want. They don't actually "wait for a negotiated price"
If I was still going to be out by a few thousand, Then I wouldn't see the point of GAP.
EDIT: I've just had a look at ALA and it does seem quite confusing. On the first page of finding out more https://www.ala.co.uk/gap-insurance it asks for an On The Road price.
Then if you click quote me and select "Vehicle Replacement Plus" https://www.ala.co.uk/quote.php?action=goto&prod=GAP&group=cars&options=1&qual_gap=1 It states "Full list price of car: The price of your vehicle before deducting any discounts."
I still definitely wouldn't go with the price I paid.
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I've got a vehicle replacement policy with ALA and instead of taking the policy out online I talked to an agent to make the most of their price matching policy.
My certificate of insurance refers to the vehicle value, and shows the price paid after discounts. But it does seem a bit odd and I might call them tomorrow to confirm all is well...
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I went with ALA after recommendations on here. I wasn't sure what to put in either as mine is pre-reg so technically used. I emailed them with a couple of questions and got the following reply:
"Hi Dave,
Many thanks for your enquiry.
When setting up a back to invoice policy you would enter the invoice price if you are going with the Vehicle Replacement Insurance then you would enter the price before any discount not the list price of a new car as your isn’t a brand new car. Just confirm Sundry costs such as service plans and finance costs would not be included when entering the appropriate price.
I hope this helps but if I can assist further please just let me know"
I got VRI for 5 years (to match my finance) which came out at aprox £300. The one arnold clark offered me when I bought the car would have worked out near £600 for 4 years cover and was only back to invoice.
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Seems I owe you all a thanks. I spoke to ALA today who confirmed that my VRI insurance was based on the wrong car value (should be on the rrp as discussed) but to their credit they admitted the agent I spoke to had taken the wrong details and upped the cover free of charge.
Would have got interesting if I had made a claim but they said they would of honoured it.
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Sorry, realise this is an old thread but thought best to add to it rather than starting a new one.
Unsure of what price to add? The list price of my R (once I sign on the dotted line on Friday) is £32,340 (looking at the VW RRP price) however, I'm getting it pre-registered for £25,000. So, which do I enter? I would have though the RRP but looking at another GAP Insurance site it states to enter the price you paid. :huh:
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Sorry, realise this is an old thread but thought best to add to it rather than starting a new one.
Unsure of what price to add? The list price of my R (once I sign on the dotted line on Friday) is £32,340 (looking at the VW RRP price) however, I'm getting it pre-registered for £25,000. So, which do I enter? I would have though the RRP but looking at another GAP Insurance site it states to enter the price you paid. :huh:
It depends who you take out GAP cover with as different companies adopt different approaches to pre-registered cars. Two of the more well known GAP insurers' approach to pre-registered cars below;
From ALA's FAQ's on their website;
I'm looking at a Vehicle Replacement Plus quote. What figure do I use as my purchase price?
This should be the price of your vehicle before deducting any discounts you have received from the dealer or manufacturer. These are sometimes VAT free offers or shown on your invoice as a deposit contribution. For new vehicles you can use the list price and include any factory or dealer fitted extras.
If the vehicle is pre-registered you would use the net price for the vehicle rather than the list price. If you have had any extra discounts these can be added back on.
If you would like any assistance with a quote please contact our team on 01653 916304.
gap insurance 123
The approach to pre-registered cars taken by gapinsurance 123 is at the link below. From a claims settlement perspective, they treat them as a new car, but it's not clear from the information at the link below what value you should use; new car list price or price paid. Simplest way to find out would be to phone and ask them.
https://m.gapinsurance123.co.uk/518/gap-insurance-and-pre-registered-cars/
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Sorry, realise this is an old thread but thought best to add to it rather than starting a new one.
Unsure of what price to add? The list price of my R (once I sign on the dotted line on Friday) is £32,340 (looking at the VW RRP price) however, I'm getting it pre-registered for £25,000. So, which do I enter? I would have though the RRP but looking at another GAP Insurance site it states to enter the price you paid. :huh:
It depends who you take out GAP cover with as different companies adopt different approaches to pre-registered cars. Two of the more well known GAP insurers' approach to pre-registered cars below;
From ALA's FAQ's on their website;
I'm looking at a Vehicle Replacement Plus quote. What figure do I use as my purchase price?
This should be the price of your vehicle before deducting any discounts you have received from the dealer or manufacturer. These are sometimes VAT free offers or shown on your invoice as a deposit contribution. For new vehicles you can use the list price and include any factory or dealer fitted extras.
If the vehicle is pre-registered you would use the net price for the vehicle rather than the list price. If you have had any extra discounts these can be added back on.
If you would like any assistance with a quote please contact our team on 01653 916304.
gap insurance 123
The approach to pre-registered cars taken by gapinsurance 123 is at the link below. From a claims settlement perspective, they treat them as a new car, but it's not clear from the information at the link below what value you should use; new car list price or price paid. Simplest way to find out would be to phone and ask them.
https://m.gapinsurance123.co.uk/518/gap-insurance-and-pre-registered-cars/
Thanks for this. I'll give them a call in the morning as I was looking at ALA. obviously if I've put £25k and it's a write off the it'd cost more than that to replace with a new model so want to make sure I'm covered.
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I got in touch with ALA but still not entirely sure. I gave them an example of my pre-registered car is £25k but a new one is £32k and the insurance company only gave me £20k what would happen. Their answer:
Looking at your example below, we would settle the difference between the £20,000 back up to the replacement cost of an equivalent vehicle. Assuming that replacement cost is £25,000, our policy would settle £5000 in total.
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I got in touch with ALA but still not entirely sure. I gave them an example of my pre-registered car is £25k but a new one is £32k and the insurance company only gave me £20k what would happen. Their answer:
Looking at your example below, we would settle the difference between the £20,000 back up to the replacement cost of an equivalent vehicle. Assuming that replacement cost is £25,000, our policy would settle £5000 in total.
It would be hard to find a pre-registered replacement car for the same value that I paid originally?!
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Greencode, doesn't the approach to pre-reg vehicles by gapinsurance 123 give you what you want? Extract from the information at the link I posted yesterday is below.
I'm assuming that as their approach is probably different (and better from the customer's perspective) to most GAP insurers for pre-reg vehicles, their basis of claims settlement for Vehicle Replacement Insurance cover would be outlined in their policy documentation. Therefore if the worst was to happen, you'd have it in print that they'd pay the difference between your motor insurer's claim settlement (market value at time of loss) and the cost of replacement with a new vehicle.
This suggests that you might need to state the value as list price of the car before discounts as that's what their claim settlement would be based on, and not the price you paid, but only gapinsurance 123 can confirm this.
Gapinsurance 123 do make the proviso that the car was originally registered in the dealers name, and you are now shown on the V5 as the (2nd) registered keeper and I understand this is the case in your situation.
Extract from gapinsirance 123 website;
How would Gap Insurance at GapInsurance123 treat the vehicle if it were pre-registered?
The specific type of cover which is most affected by this could be Vehicle Replacement Insurance cover. This type of gap would protect the difference between the vehicle's market value, when it is written off, and the cost of replacing the vehicle with one equivalent to the vehicle you bought the policy for. With regards to pre-registered vehicles, this can cause a slight issue, how can you value a vehicle that is say 3 months old with one previous owner on the V5 logbook?
Well with a GapInsurance123 policy we try to make life a bit more straightforward. If the vehicle is less than 90 days old, with the supplying dealer as the previous owner, we will treat the vehicle as a brand new vehicle for the purpose of Vehicle Replacement Insurance*.
https://m.gapinsurance123.co.uk/518/gap-insurance-and-pre-registered-cars/
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Well with a GapInsurance123 policy we try to make life a bit more straightforward. If the vehicle is less than 90 days old, with the supplying dealer as the previous owner, we will treat the vehicle as a brand new vehicle for the purpose of Vehicle Replacement Insurance*.
https://m.gapinsurance123.co.uk/518/gap-insurance-and-pre-registered-cars/
Ah ha, thanks for this section. That answers my questions perfectly and I think I should go with 123 and not ALA due to this very fact. Thanks for your help with this. Really appreciated.
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Well with a GapInsurance123 policy we try to make life a bit more straightforward. If the vehicle is less than 90 days old, with the supplying dealer as the previous owner, we will treat the vehicle as a brand new vehicle for the purpose of Vehicle Replacement Insurance*.
https://m.gapinsurance123.co.uk/518/gap-insurance-and-pre-registered-cars/
Ah ha, thanks for this section. That answers my questions perfectly and I think I should go with 123 and not ALA due to this very fact. Thanks for your help with this. Really appreciated.
No problem. Enjoy your new R!
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No problem. Enjoy your new R!
Thanks. Pick it up tomorrow :smiley:
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I decided to go with gapinsurance123 on a £20k vehicle replacement policy. The cost was £149 for 3 years.