Promoted: Free 30-day GAP policy for PHers with ALA

[bongo2202]

Hi Katie, can you offer some advice please as just ordered a new car with a RRP OF £40k and it's a private lease over 2 years with 9 months up front. What sort of package should I be looking for as I've heard some people mentioning about getting extra cover for the 9 months payment I'll be making. Many thanks Rob

[ALA Insurance]

Hello Rob

That's no problem at all

It would be our Contract Hire + GAP policy. If the car is written off at any point in the two year period, the GAP policy would cover up to 100% of the outstanding rental payments and any shortfall in the market value settlement from the insurer (i.e. if it doesn't match the market value settlement expected by the lease company).

We can also cover the 9-month initial rental payment, which would mean you had your upfront money back and a ready-made deposit if the worst happened.

If you would like me to run through a quote with you please feel free to email the details to [e-mail] - as you have already told me the estimated value for the car and how long the lease is for, I would just need to know:

- The monthly rental amount
- The initial rental payment

I hope this helps but please let me know if you have any other questions.

Thanks,

Katie

[Maty]

Hi Katie,

Wonder if you can help.

We've just picked up a Mini Clubman for my wife, it's 1 year old. We've gone for PCP, the car was 18k, 4 year agreement, 2k down and £200 per month. There's a balloon payment of 10k at the end.

Which gap insurance do I need?

I wanted just straight gap insurance to pay the difference between the payout and the balance but all I can see on your site is return to invoice plus?

Thanks,
Mat

[ALA Insurance]

Hi Mat

Thanks for getting in touch.

I'm afraid we don't offer a "finance-only" type of GAP insurance - the reason for this is it has a very limited application. You will reach a point where the market value settlement from your insurer will be enough to cover outstanding finance on your agreement and so a finance GAP policy would not pay anything out. This point might occur just halfway into a 3 year GAP policy, leaving you with 18 months of a policy which won't provide you with any cover.

A Back to Invoice or Return to Invoice policy, will pay the difference between the motor insurer's settlement and either the remaining finance balance or the invoice price of the car, whichever is higher at the time of the claim. This means that if you receive enough from your insurer to pay off your finance, the GAP policy will still pay up to our £18,000 invoice price. This means you have no finance left on the original car, and the money left over you can use against a new car.

Also, there is not normally much of a price difference between a finance GAP and a Back to Invoice GAP policy but for the additional premium you are getting (arguably) much better value cover.

I hope this helps as a starting point but please let me know if I can help any further.

Thanks,
Katie

[RedSpike66]

Hi Katie
I started reading through this thread but after two pages decided to post my question, so apologies if it's already been asked..
I have a TVR Sagaris, 11 years old, no longer made, and according to sale prices of these cars, would cost considerably more (about double) to replace than an insurance company would typically pay out if it was a total loss.
Do you offer GAP insurance for this kind of situation ?
If not is there an alternative solution insurance wise to help 'replace' the car if it was a total loss without me being thousands of pounds out of pocket ?
Thanks
Mike

[ALA Insurance]

Hi Mike

Its no problem at all, I don't think it has been asked it before and it saves you reading through

Unfortunately our policies wouldn't be able to apply to that kind of scenario - we can only cover cars which are up to 10 years of age at the start of the policy. I'm no expert (and I'm hoping other PH members will help out here!) but I think you would be best approaching a specialist broker for something more along the lines of classic car or agreed value car insurance - but please don't quote with me on this!

I'm sorry that we can't help but thank you for getting in touch.

Thanks
Katie

[captainhook]

Very happy with the service from ALA/MBG insurance

So I had my car written off recently and the insurance settlement figure was a bit of a hit compared to what I paid for my car approx a year ago.

Luckily I remembered I had taken out gap insurance last year (return to invoice+)

The process of claiming off gap was very smooth and efficient. When I put my claim in, they asked me to fill in a form relating to my vehicle and the write off details and asked to provide finance details, settlement figure details from insurers etc, all was provided and a response was provided promptly.

They came back with a valuation which was about 270 higher than what my insurers were offering, so I went back to my insurers and told them up their offer due to the condition/spec of the car which they did.

Went back to MBG who were happy to finalise the claim now the insurers had upped their settlement figure. I should be getting a settlement from them any day now via BACS.

This process was about 2 weeks but would of been quicker had my insurers got back to me quicker than they could of done with the settlement figure so I could then communicate that with the gap underwriters..

In the end I haven't come out too badly luckily to having gap in place and I did actually have tyre insurance which I did use when I needed, which was a smooth process to claim on (went to garage, sent over pictures of the tyre punctures and had a response back with the underwriters within 1 hour.

So overall I am very happy with the service from ALA and I would use them again without hesitatation and wouldn't go elsewhere even if they were offering it a lot cheaper because customer service is king and there's no garuantee I'll get that elsewhere!

Thanks to the claims handler Paul Scott at MBG insurance.

Edited by captainhook on Wednesday 19th April 21:42

[ALA Insurance]

Hi captainhook

Thanks for taking the time to do this, its really good to hear how a claim is progressing and we will pass your lovely comments on to Paul

Thanks again
Katie

[nickofh]

Hello ALA.

I am 13 months into my PCP agreement for a Renault Zoe and my annual statement has just come through. Looking at my outstanding balance and the residual values of the car i am interested in gap cover for the last 11 month's. Is this something that you can provide ? Thanks.

Nick

[ALA Insurance]

Good morning Nick

Thank you for getting in touch.

Unfortunately we can't provide you with any cover at this stage. The underwriters impose a time limit of 365 days to buy the GAP insurance, which runs from the date you first collected the car.

I'm sorry that we can't help at the moment but if you have any other questions please ask

Thanks,
Katie

[dieseluser07]

Hi, i actually took out a return to invoice plus policy with yourself on a used car.

Just realised my invoice from the dealer says 0%vat qualifing and has 0 for vat paid, but it does have the price i paid on the invoice and the garage is 100% vat registered.

Would i have any problems with this should i have to claim?

[ALA Insurance]

Hi dieseluser07

Thanks for getting in touch and I'm sorry for the delay in getting back to you.

That wouldn't cause you any problems at all - the only requirement we have is that the garage itself is VAT registered, you don't have to have actually paid VAT on the car.

I hope this helps but if you have any other questions at all, please let me know.

Thanks,
Katie

[page3]

Hi

Interested in a back to invoice policy to cover a PCP on a Nissan Leaf (Tekna 30kW) due in a couple of weeks.

For the "Invoice Price", should this be the full retail price, before government, manufacturer and dealer discounts - because there are a lot!!

I have an "on the road price" which seems to include some (but not all) of the dealer discounts, and not the government grant discount.

If full pre-discount price (around £27,000) then would the suggested £15K cover be suitable?

Thanks.

[ALA Insurance]

Hi page3

Thanks for getting in touch.

There are so many discounts and grants on the electric cars at the moment and its hard to know what might be available going forward, so you're right to ask the question.

The Back to Invoice policy can only protect the price that you have paid for the car, after the discounts have been deducted. If you would like to cover the possibility that some or all of the many discounts are not there in the future, you would need to look at the Vehicle Replacement policy instead, as this will cover up to the new car replacement cost at the time of a claim. For this you can use the pre-discounted price of £27,000.

I hope this helps and if you have any other queries please let me know.

Thanks, Katie

[ALA Insurance]

Hi TinRobot

Just based on what we've said above, if you would like to discuss the policy you have with us to make sure it's right, please get in touch either on 01653 916280 or by email at [e-mail].

Thanks,
Katie

[page3]

Thanks Katie and also TinRobot.

[gord115]

Does code "piston12" still get me a 12% discount?

[ALA Insurance]

Hello gord115

Thanks for your message.

The Piston12 discount code is definitely still valid and will take 12% off our premiums

If you have any queries or the code isn't working for some reason please get back in touch with me, either on here or direct on email [e-mail].

Thanks,
Katie

[gord115]

Just tried to buy gap insurance and when I enter code Piston 12 it says "promotional code not available"

Can you help please.

[ALA Insurance]

Hi gord115

I'm really sorry that you haven't been able to use the discount code. I'll reply to your direct email and we'll make sure we get this sorted for you.

Thanks,
Katie