Best gap insurance?

[chan61922]

Evening guys, so I’ve took delivery of a new toy not long ago and financed it, just wondering what best/most reliable hassle free gap insurer people are going with?

Many thanks

[chml]

I think ALA still offer a PH discount. Worth looking at RTI GAP cover as it’s not normally much more expensive.

[Radec]

ALA were great when my sis had her new car written off, cheap and no hassle.

[chan61922]

Thanks guys after quick google search seems like 10% off ALA is the PH discount better? Forgive my stupidity but never financed before is gap insurance still true for cars on HP and not just PCP? As I’ve entered a HP agreement

Thanks

[Shaw Tarse]

Thread here https://www.pistonheads.com/gassing/topic.asp?h=0&...

[Andy665]

I have used gapinsurance.co.uk for the last couple of cars, cover just as good as ala and cheaper

Not needed to claim but had good service from them

Edited by Andy665 on Monday 4th January 19:40

[chan61922]

Many thanks guys just bought 3 years cover, I can’t fully make sense of all this malarkey but it’s cheap enough so worth it’s for the peice of mind I guess. I think I may have not needed it though can someone confirm? The car is worth more then I owe on it (minus my deposit etc) therefore do I really need GAP? To my understanding it makes sense to opt for it if you owe more than the cars worth? Forgive my stupidity new to all this stuff

Thanks

[anonymous-user]

No, it sounds like you probably don’t need it.

GAP is there to cover the gap between insurance valuation and outstanding finance. If you have enough equity in the car that’s not going to be an issue.

You may want to take out RTI GAP (Return To Invoice), this means that if the car is written off the GAP insurance will make up the difference between the insurance payout and what you originally paid.

The reason these policies don’t cost that much is they’re not used very often in the scheme of things and don’t pay out that much when they do get used.

[Haltamer]

charltjr said:

You may want to take out RTI GAP (Return To Invoice), this means that if the car is written off the GAP insurance will make up the difference between the insurance payout and what you originally paid.

The reason these policies don’t cost that much is they’re not used very often in the scheme of things and don’t pay out that much when they do get used.

RTI Gap was a winner for me.

Despite insurance paying out finance and a settlement, was paid out ~£9000 for RTI. Esssentially paid for me to drive the car for three years.

For the low price of a policy, they're very much worth it IMO.

[chan61922]

Just my luck thought I didn’t need it! Cars worth about 18-18.5k, balance outstanding is 14.5k ish, Im sure I’ve just bought a RTV policy as the car was bought a while ago lol should I cancel this?

[chan61922]

Anyone?

[as400]

Am totally confused by the difference types of GAP insurance

Return to invoice gap insurance
Return to value gap insurance
Vehicle replacement gap insurance

WTF?

Have just bought an Audi £28K...put down £10K...the rest is PCP....which one is best?

[Tatraplan]

I am also confused about GAP insurance. I have a car on order but it has been a long time coming and current market value means it's £8-10k more on the open market than what I will be paying for it.

If I have a total loss what's the point of GAP insurance if my fully comp car insurance is vehicle replacement/market value?

I could make a profit...