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Discussion Starter #1
If you are thinking of taking out a GAP insurance product then we've managed to secure a great deal on already heavily discounted insurance policies taken out through ALA.

As an example a quote I've received from the dealer offers GAP at £399. A quote through ALA for cover comes in at well under half that!

Captur Owners Club members will receive a 5% discount too - just follow the link below:

http://www.ala.co.uk/r/?r=Carforum and use code:forum123

Have you thought about gap insurance?

From the moment you drive your car away from the dealer forecourt its value automatically depreciates. This depreciation will increase drastically over the course of you owning that car.
You may not be aware but should the worst happen and your vehicle is stolen or is involved in an accident where it is damaged beyond repair, even if you have fully comprehensive insurance, you will only receive the current market value as a payout from that insurer.


This could result in a shortfall of up to two-thirds of the value of the vehicle in as little as 3 years. Crucially a motor insurance company may not pay enough to settle the outstanding finance on the vehicle.

By purchasing GAP insurance this shortfall can be prevented. A GAP policy covers the difference in price between the initial price paid for a car and the market value payout by your comprehensive insurance company. It therefore ensures that you don't suffer the financial loss otherwise associated with the loss of your car through theft or irreparable damage.

Are you thinking this will never happen to you?.........
UK Car Crime is a third of all crime. A vehicle is stolen every minute, 33% of these are never recovered. Cars depreciate by up to 77% over a 3 year period. Motor insurance settlements are always less than the price you pay for your car. When a write off occurs you lose out and have to raise the funds for any short fall. Write offs occur all too often; protect yourself! Why ALA?

Market Value Clause
Make sure there isn't one! This clause means that the GAP company will only pay from the Glass's Guide Retail value. If your Comprehensive Insurer settles for less, you could well end up with a shortfall.ALAdoes not have one.

Maximum Value Clause
You don't want one of these either! This means that the value of your car is typically capped at 105% of Glass's Guide Retail value. If you have added some extras, which is very common, these extras may not be covered under your GAP policy.ALAdoes not have one.

Free Transfer
Of any unused premium and FREE policy amendments.ALA offers this.

Claim Period
If you have ever suffered a Total Loss Claim, you will know the level of stress it can cause, you may even forget to contact the GAP Insurer straight away. The better policies will give you 120 days to make a claim, lesser policies limit this to 30 days.ALAoffers 120 days.

UK Registered Insurers
Buying from a UK insurer means that it is directly authorised and regulated by the FSA, which in turn offers you policy protection under the Financial Services Compensation Scheme, will give you the security you need. Other GAP providers use off-shore insurers, who, although licensed to sell GAP Insurance in the UK, ultimately can step away from their obligations without redress.ALAare UK registered.
 

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just wanted to say a big thanks for this Dan. took your advice and saved a staggering (and still cant believe it) 2/3rds off the price the dealership were going to charge me...and it was an easy process. btw like the way you can make your payment with paypal...so much easier than having to give card details
 

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bigbadtony said:
just wanted to say a big thanks for this Dan. took your advice and saved a staggering (and still cant believe it) 2/3rds off the price the dealership were going to charge me...and it was an easy process. btw like the way you can make your payment with paypal...so much easier than having to give card details
Hear, hear
Had GAP insurance on my Juke two years ago and it wasalmost three times what I paid for with Dan's introduction. Any quotes I had this time were also way to high in comparison
 

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Had a look at this. Wasn't sure about the additional extras you could add to the policy. Any advice? Quoted £299 from the dealer (not sure if there is any difference in the policy) but appear to be able to get it on this website for £110 (that is for £10k gap).
 

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Discussion Starter #6
You should find the policy is the same (and often better) with ALA.

Are the extras you are considering the Alloy / scratch / dent / tyre insurance? I guess it's hard to recommend what you should do - insurance offers peace of mind and helps cover the cost if something happens.

For example - you damage a tyre one month in and it probably has paid for itself - but when was the last time you had a damaged wheel or tyre? It could be a waste of money if you never need to claim but the peace of mind is there and that could be worth it?
 

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Yes, those are the extras. Wasn't sure if they were included automatically with the dealers quote and that is why it was dearer. Seems to be such a difference in price. Dealer didn't mention any limits either ( I chose the £10k on ala).
 

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I took out the scratch and dent insurance with ALA, I do a fair few miles each year and park my car on various car parks and often find small scratches and dents when I retrun to it, so it's piece of mind knowing I can get these repaired. I didn't however take out their tyre insurance purely because I have never had problems with tyres. I have regretted not doing so because two weeks after owning the car I had to replace one of the tyres as something hit it (i.e. the tyre wall) and split it. Sods law I think it is called!
 

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My dealer couldn't get anywhere near the price from ALA. Thanks so much for posting this. Not been here long and already saved money. (And then spent some on club stickers!
)
 

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A question if I may....I have purchased gap insurance on numerous occasions before, including from ALA but.....given that many car insurance policies provide like for like replacement of a new vehicle within the first 12 months of ownership in the event of theft or write-off, GAP insurance is pretty pointless for the first 12 months of ownership. A policy I have on my main car cost £139 (a little more than ALA admittedly but it also provides £15K of security) but covers me from years 2 through 4
I have scanned the ALA website but cannot see anywhere the option to defer the start of cover for 12 months. Can you please confirm if this is possible or not and how one goes about doing so if the deferral option is available.
 

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Discussion Starter #11
You have to have owned the car under either 90 days or 180 days (depending on level of cover).

I do know some insurance companies offer this for the first 12 months and it does seem a shame to effectively have a wasted year, it's just what do you do for the other couple of years when in theory, in the event of total loss, you are more likely to need it.
 

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Ok, thanks for the response Dan, much appreciated. Guess I will insure with the company that I have my other cars covered with, even though it costs a little more, since in that case there is no wastage / duplication of cover and I am covered until the end of year 4 which matches the Renault 4 year warranty etc quite nicely. Thanks again
 

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Thank you Dan, this quote is over £100 less than the dealership has quoted me (for 15k cover).
I have friends who have been in the unfortunate position of having their car written off andending up with a large shortfall - I don't ever want to be in that position myself!
I shall be taking up this quote. Seems quite simple and straightforward cover.
 

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thanks for this.. i was looking at having to pay £499 for GAP insurance through renault. but got quoted £165 with forum discount for 4years cover at 10k.. thats a massive saving! Ta very much!
 

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Just taken out Gap with ALA saved over £130 compared to what Renault dealer was offering.

Cheers Dan
 

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It is indeed a product offered by Dealers and often the premium is indeed £399, I would add to the comment by saying not all policies are the same and it is always wise to read the conditions carefully there are some basic things to look for.
Is the product offering "return to invoice" i.e. will it provide you with the car you are driving with any extras or options you have.

If your loss occurs in the first year and your car insurer offersa "new car" replacement does the GAP policy restart from year two.

After year three does the policy end or does it continue to provide finance shortfall cover for a further two years.

These along with the comments mentioned elsewhere should help you make an informed decision.
 

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Thanks for this discount, worked a treat and saved me a fortune compared with the dealers offerings. Like for like cover too, I checked all the details out first.
 
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