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Ady128

Original Poster:

415 posts

31 months

[news] 
Monday 18th June 2012 quote quote all
Does anyone have GAP insurance and how much should I pay for an £84,000 911 for 3 years?

5678

5,406 posts

115 months

[news] 
Monday 18th June 2012 quote quote all
Not on a Porsche, but I've always used these guys https://www.ala.co.uk

They quote £280 for your car, covering a gap of £25k for 3 years.

Rrroro

201 posts

43 months

[news] 
Monday 18th June 2012 quote quote all
5678 said:
Not on a Porsche, but I've always used these guys https://www.ala.co.uk

They 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.

5678

5,406 posts

115 months

[news] 
Tuesday 19th June 2012 quote quote all
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.

Porkupine

1,604 posts

53 months

[news] 
Tuesday 19th June 2012 quote quote all
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

7,755 posts

77 months

[news] 
Tuesday 19th June 2012 quote quote all
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....

535dBoy

458 posts

86 months

[news] 
Tuesday 19th June 2012 quote quote all
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!

Zyp

7,755 posts

77 months

[news] 
Tuesday 19th June 2012 quote quote all
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.

mohitos

1,229 posts

87 months

[news] 
Tuesday 19th June 2012 quote quote all
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.

dreamer75

1,049 posts

116 months

[news] 
Tuesday 19th June 2012 quote quote all
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 !

Ady128

Original Poster:

415 posts

31 months

[news] 
Tuesday 19th June 2012 quote quote all
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.

Zyp

7,755 posts

77 months

[news] 
Tuesday 19th June 2012 quote quote all
You're going to be covering an £84k car for an extra £176.

I'd go OPC.

mrdemon

6,402 posts

153 months

[news] 
Tuesday 19th June 2012 quote quote all
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

mrdemon

6,402 posts

153 months

[news] 
Tuesday 19th June 2012 quote quote all
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.

5678

5,406 posts

115 months

[news] 
Tuesday 19th June 2012 quote quote all
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.

Zyp

7,755 posts

77 months

[news] 
Tuesday 19th June 2012 quote quote all
Mine was Return to Invoice, David, and as you say - set in stone (well, print).

That didn't stop them querying the insurers valuation.

Pickled Piper

5,628 posts

123 months

[news] 
Tuesday 19th June 2012 quote quote all
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

535dBoy

458 posts

86 months

[news] 
Tuesday 19th June 2012 quote quote all
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!

neil-f

1,546 posts

95 months

[news] 
Tuesday 19th June 2012 quote quote all
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.

5678

5,406 posts

115 months

[news] 
Tuesday 19th June 2012 quote quote all
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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