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Ady128
Original Poster
283 posts
12 months
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Does anyone have GAP insurance and how much should I pay for an £84,000 911 for 3 years?
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5678
5,021 posts
96 months
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Not on a Porsche, but I've always used these guys https://www.ala.co.ukThey quote £280 for your car, covering a gap of £25k for 3 years.
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Rrroro
187 posts
24 months
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5678 said: Not on a Porsche, but I've always used these guys https://www.ala.co.ukThey quote £280 for your car, covering a gap of £25k for 3 years. Same here, I use ala.co.uk on all three cars. Significant saving over the barmy prices for policies offered by manufacturers with similar levels of cover.
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5678
5,021 posts
96 months
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I'd love to know what an OPC is wanting to charge for the OP.
My current car has the BMW GAP product now I think about it. I got the sell on it when I bought the car and after waving the ALA price at him they just sold it to me at that instead.
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Porkupine
1,553 posts
34 months
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Garages have an absolutely ridiculous mark-up on the F&I products. Each salesman usually receives up to £50 for each policy sold for starters. So, this is definitely somewhere you can haggle hard. Usually it isn't that difficult to get these things thrown in, including Supaguard, etc. if you like that sort of thing!
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Zyp
5,703 posts
58 months
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Do your homework with GAP companies.
I had cover on the Exige, and when it came to pay out the GAP company didn't/wouldn't agree with the insurance company on the value of my car and therefore the 'gap' they had to make up (in this instance about £1500)
Ergo, me stuck in the middle trying to deal with both of them (they wouldn't deal with each other directly!) for several weeks, many phone calls and letters ensued.
Finally got my monies, but in my opinion some of these policies are cheap for a reason....
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535dBoy
458 posts
67 months
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Zyp said: Do your homework with GAP companies.
I had cover on the Exige, and when it came to pay out the GAP company didn't/wouldn't agree with the insurance company on the value of my car and therefore the 'gap' they had to make up (in this instance about £1500)
Ergo, me stuck in the middle trying to deal with both of them (they wouldn't deal with each other directly!) for several weeks, many phone calls and letters ensued.
Finally got my monies, but in my opinion some of these policies are cheap for a reason.... This is sort of why I paid the opc because I too had heard horror stories like that!
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Zyp
5,703 posts
58 months
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I also took the OPC policy when I bought the Spyder - wasn't extortionate, and I'm happy that if a problem arises and I need to use it, I know I can just go and see them in person.
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mohitos
744 posts
68 months
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When I bought my GTS I shopped around but was unable to find another company prepared to cover cars >£70k purchase price (not claim amount). I bought from the OPC in the end and know I paid a premium in doing so.
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dreamer75
996 posts
97 months
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Zyp said: Do your homework with GAP companies.
I had cover on the Exige, and when it came to pay out the GAP company didn't/wouldn't agree with the insurance company on the value of my car and therefore the 'gap' they had to make up (in this instance about £1500)
Ergo, me stuck in the middle trying to deal with both of them (they wouldn't deal with each other directly!) for several weeks, many phone calls and letters ensued.
Finally got my monies, but in my opinion some of these policies are cheap for a reason.... I had the same with GAP insurance on my S2000 - the car and insurance were purchased from the dealer, but when the car was written off, the GAP insurers refused to believe the value of the car (they valued it higher so the GAP was smaller). It took a *lot* of fighting with them to sort it out, but managed it eventually. They wouldn't even fold when we provided them with the Glases guide pages! Just be prepared for battle if you do need to claim !
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Ady128
Original Poster
283 posts
12 months
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The OPC are claiming the proper cost is £799 and the lowest they can offer me is £576. A place in Leeds can do it for £400.
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Zyp
5,703 posts
58 months
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You're going to be covering an £84k car for an extra £176.
I'd go OPC.
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mrdemon
3,025 posts
134 months
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any insurance is a battle, we should NOT even need GAP when you think about it.
£800 seems daft but the company i use have a 50k car limit so cannot see what it would be, I normally have return to invoice then no hassle with values of the car etc.
if it just a value of the car you want back your current normal insurance should pay out.
return to invoice is the only reason to have GAP insurance
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mrdemon
3,025 posts
134 months
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Zyp said: Do your homework with GAP companies.
I had cover on the Exige, and when it came to pay out the GAP company didn't/wouldn't agree with the insurance company on the value of my car and therefore the 'gap' they had to make up (in this instance about £1500)
Ergo, me stuck in the middle trying to deal with both of them (they wouldn't deal with each other directly!) for several weeks, many phone calls and letters ensued.
Finally got my monies, but in my opinion some of these policies are cheap for a reason.... again why you should always have return to invoice, no value hassle then, it's set in stone.
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5678
5,021 posts
96 months
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Zyp said: You're going to be covering an £84k car for an extra £176.
I'd go OPC. I agree the difference is minimal. But how do you know that this won't still end up in the same battles over values. Insurance co will always want the amount to be as low as possible. The GAP co will always want it to be as high as possible. So unless both products come from the same provider, you will always get these battles.
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Zyp
5,703 posts
58 months
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Mine was Return to Invoice, David, and as you say - set in stone (well, print).
That didn't stop them querying the insurers valuation.
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Pickled Piper
5,161 posts
104 months
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If you are buying a new car check the details on your standard insurance policy. Many will replace yours with a new one if it is less than 12 months old. So you only need to purchase Gap insurance from year 2 onwards.
pp
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535dBoy
458 posts
67 months
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Ady128 said: The OPC are claiming the proper cost is £799 and the lowest they can offer me is £576. A place in Leeds can do it for £400. Bite their hand off Paid £800 for £62k boxster last month!
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neil-f
1,303 posts
76 months
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mrdemon said: again why you should always have return to invoice, no value hassle then, it's set in stone. It is not the invoice price in question, it is the insurance value and the gap value that cannot be agreed here! Never had any Gap insurance myself.
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5678
5,021 posts
96 months
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Zyp said: Mine was Return to Invoice, David, and as you say - set in stone (well, print).
That didn't stop them querying the insurers valuation. I always go for a RTI product too. But this doesn't make a difference as you say. There will always be squabbles over the value. Paying more for your policy will not change this one bit.
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