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Model specific boards => Golf mk7 => Topic started by: MarkHowells on 21 March 2019, 18:22

Title: Gap Insurance
Post by: MarkHowells on 21 March 2019, 18:22

I have had my GTiPP for 9 months now and I am thinking about taking out GAP insurance.

When I purchased the car from the VW Main Dealer they offered GAP insurance at £500, but I knew that I could get it cheaper and also I knew that my fully comprehensive car insurance covered me for the first 12 months.

My question is how much insurance cover do I need? I paid £30k on a 4 year PCP but I intend to change the car as soon as the mk8 GTi or R becomes available to order. I guess it comes down to the market value against the amount owing, but I don't know how to calculate this or if it should be say £5k or £10k.

Has anyone taken out GAP insurance before their car is 12 months old or have any experience on ow to calculate how much cover is actually required.

Any help would be truly appreciated.

MarkH

Title: Re: Gap Insurance
Post by: hog_hedge on 21 March 2019, 18:50

I went with ALA for four year cover up to £20k. I just guessed that my car wouldn’t be worth less than £10k after 4 years.

Title: Re: Gap Insurance
Post by: Booth11 on 21 March 2019, 21:24

Also went with ALA GAP (3 year Vehicle Replacement Plus policy with £20k cover).

There’s an ALA discount code - MSE25  25%off

Title: Re: Gap Insurance
Post by: Jim_mk7.5 on 22 March 2019, 09:12

This is who we use at work, might be worth an enquiry.

https://www.directgap.co.uk/

Title: Re: Gap Insurance
Post by: MarkHowells on 22 March 2019, 10:59

Many thanks for your responses.

This has turned out to be quite interesting.

I got a quote from ALA for £20k cover over 3 years and it came to £358. I applied the MSE 25% discount code which brought it down to £266.50. This is for the Vehicle Replacement Plus cover.

I then got a quote from directgap for £20k cover over 3 years and it came to £229. This is for the Vehicle Replacement + cover which looks like it is the same policy as that offered by ALA.

I think that I will get some more quotes, but if you have any experiences or feedback please post them here.

MarkH

Title: Re: Gap Insurance
Post by: Jim_mk7.5 on 22 March 2019, 11:01

We've always found Direct GAP to be very competitive and its a proper run business, the owner is a car guy.  :smiley:

Title: Re: Gap Insurance
Post by: 2007GTI on 22 March 2019, 11:02

Ive been using these guys for years, never had to make a claim

https://www.click4gap.co.uk

Title: Re: Gap Insurance
Post by: SRGTD on 22 March 2019, 12:25

Quote from: MarkHowells on 22 March 2019, 10:59

Many thanks for your responses.

This has turned out to be quite interesting.

I got a quote from ALA for £20k cover over 3 years and it came to £358. I applied the MSE 25% discount code which brought it down to £266.50. This is for the Vehicle Replacement Plus cover.

I then got a quote from directgap for £20k cover over 3 years and it came to £229. This is for the Vehicle Replacement + cover which looks like it is the same policy as that offered by ALA.

I think that I will get some more quotes, but if you have any experiences or feedback please post them here.

MarkH

ALA also have a price match guarantee, so they should match any cheaper on line quotes from other GAP insurers where the cover is on a like for like basis.

Title: Re: Gap Insurance
Post by: Crunch on 23 March 2019, 19:39

I've been looking at whether I need gap insurance and I'm not too sure. Basically I will be buying a brand new gti performance next week and I will owe £20k on it so I don't think I will need it as they should pay out more than that?

Title: Re: Gap Insurance
Post by: hog_hedge on 23 March 2019, 21:27

Quote from: Crunch on 23 March 2019, 19:39

I've been looking at whether I need gap insurance and I'm not too sure. Basically I will be buying a brand new gti performance next week and I will owe £20k on it so I don't think I will need it as they should pay out more than that?

If you write your car off in 3 years time don’t you want a new one? I paid cash and still took out GAP because it’s a very little cost for a potentially very big gain.

Title: Re: Gap Insurance
Post by: jdc0907 on 25 March 2019, 11:31

I haggled the dealer at VW and managed to get a 4 year deal for £249 on a brand new 7.5 PP MY19. My insurance covers the full cost for the first 12mo but for the 3 years after that I didn't think it was too bad? It covers the finance settlement too

Title: Re: Gap Insurance
Post by: NewbieGTIP on 27 March 2019, 18:40

Anyone know if Admirals policy is any good for this. I’m trying to stick with a Company that I’ve heard of, they’ve quoted me £180 for return to invoice on mine with a 2 year policy.

Title: Re: Gap Insurance
Post by: mcmaddy on 27 March 2019, 18:48

ALA are the ones to go with.

Title: Re: Gap Insurance
Post by: NewbieGTIP on 27 March 2019, 19:21

Quote from: mcmaddy on 27 March 2019, 18:48

ALA are the ones to go with.

Cheers Mcmaddy, got 3 years for the price of Admirals 2 after using a discount code. ALA19 gets 10% off.

Title: Re: Gap Insurance
Post by: MarkHowells on 27 March 2019, 22:33

Thanks to everyone for your contributions to this thread.

There has been some really interesting comments and it looks like ALA are one of the best options.

MarkH

Title: Re: Gap Insurance
Post by: Jim_mk7.5 on 28 March 2019, 09:09

Quote from: NewbieGTIP on 27 March 2019, 18:40

Anyone know if Admirals policy is any good for this. I’m trying to stick with a Company that I’ve heard of, they’ve quoted me £180 for return to invoice on mine with a 2 year policy.

Just for reference, think mine was £139 for 2 years with DirectGap.

Title: Re: Gap Insurance
Post by: Mark V GTD on 28 March 2019, 11:08

Has anyone got any actual experience of making a GAP claim?