Additional/Extra Porsche Insurances (Gap, Wheel&Tyre, Paint)
Discussion
I'm doing my 718 GTS handover on Monday - when I popped in today to sign off / transfer balance the dealer presented me with 3 additional services:
1. Gap Insurance
2. Wheel & Tyre Insurance
3. Paint protection Insurance
Didn't give me an printed materials on any of it, just briefly mentioned what it was and said they'd cover it at handover on Monday. Roughly I think it was around £500 each, and the Gap one was £800 maybe.
Initially I'm thinking they're probably not worth getting, but the sales guy said to think it over and wait until Monday when they've explained (sold) it more thoroughly.
Are any of these things worth going for?
1. Gap Insurance
2. Wheel & Tyre Insurance
3. Paint protection Insurance
Didn't give me an printed materials on any of it, just briefly mentioned what it was and said they'd cover it at handover on Monday. Roughly I think it was around £500 each, and the Gap one was £800 maybe.
Initially I'm thinking they're probably not worth getting, but the sales guy said to think it over and wait until Monday when they've explained (sold) it more thoroughly.
Are any of these things worth going for?
Dealers make huge mark ups on this stuff, get independent quotes and then beat the dealers up to see if they will price match!
GAP and wheel & tyre insurance worth having for the right price - bear in mind many insurers cover for GAP in the first year of a new car. Paint insurance is a bit of a con, usually they exclude vulnerable areas such as the bonnet from stone chips, and cover areas where stone chips are less likely!
GAP and wheel & tyre insurance worth having for the right price - bear in mind many insurers cover for GAP in the first year of a new car. Paint insurance is a bit of a con, usually they exclude vulnerable areas such as the bonnet from stone chips, and cover areas where stone chips are less likely!
Edited by dreamcar on Saturday 28th April 20:20
Gap definatley , ALA are around £220 and worth the fact that if your car is written off the shortfall is covered, of this is worse case scenario and you never know how good they are until you need them. They do have a high defacto rating.
Tyre insurance and wheel can work out well as its would be so unlucky to get a puncture in the side wall when the tread was 2mm? Wheel insurance forget if diamond cut but the doo a good job on plain colour although do your sums as a smart repair is around £50
Tyre insurance and wheel can work out well as its would be so unlucky to get a puncture in the side wall when the tread was 2mm? Wheel insurance forget if diamond cut but the doo a good job on plain colour although do your sums as a smart repair is around £50
tedblog said:
Tyre insurance and wheel can work out well as its would be so unlucky to get a puncture in the side wall when the tread was 2mm? Wheel insurance forget if diamond cut but the doo a good job on plain colour although do your sums as a smart repair is around £50
Re tyre insurance - Porsche recommend replacement of a tyre after any puncture wherever it is located!GAP only worth it if you are leasing or PCPIng the car.
I used ALA on an leased Golf R I had. But you never know how good it is until you need to claim.
Wish I’d Got the alloy cover on my BM. The wife has mullered the wheels. Not a scratch on my Boxster wheels in two years. But then she doesn’t drive that and I never need to park next to a curb.
I used ALA on an leased Golf R I had. But you never know how good it is until you need to claim.
Wish I’d Got the alloy cover on my BM. The wife has mullered the wheels. Not a scratch on my Boxster wheels in two years. But then she doesn’t drive that and I never need to park next to a curb.
I can highly recommend the wheel/tyre insurance. Especially if you are having diamond cut alloys.
Cayman S owning mate unlucky enough to have 4 serious punctures in 6 weeks, all replaced without fuss under the insurance.
I managed to run my 981 Boxster for 2 years without kerbing a wheel, but I’d kerb’d my 718 twice in the first 10 months. Diamond cut Carrera Sports. Repaired without any hassle both times. My OPC even gave me a courtesy 718 while the repair was being done (diamond cut wheels have to be sent away to be ‘repaired’ rather than ‘refurbished’ in-house), which the policy book says they don’t provide. If you don’t have the cover, a diamond cut wheel costs about £150 to repair. Regular alloys costs about £45 to refurbish.
From memory you can claim a max of 10 tyres and 5 wheel repairs in the 3 years the policy covers. There’s no excess to pay.
It is worth noting your OPC will technically have little to do with your wheel repair. They contract out all the work to 3rd parties for both repairs and refurbishes.
Cayman S owning mate unlucky enough to have 4 serious punctures in 6 weeks, all replaced without fuss under the insurance.
I managed to run my 981 Boxster for 2 years without kerbing a wheel, but I’d kerb’d my 718 twice in the first 10 months. Diamond cut Carrera Sports. Repaired without any hassle both times. My OPC even gave me a courtesy 718 while the repair was being done (diamond cut wheels have to be sent away to be ‘repaired’ rather than ‘refurbished’ in-house), which the policy book says they don’t provide. If you don’t have the cover, a diamond cut wheel costs about £150 to repair. Regular alloys costs about £45 to refurbish.
From memory you can claim a max of 10 tyres and 5 wheel repairs in the 3 years the policy covers. There’s no excess to pay.
It is worth noting your OPC will technically have little to do with your wheel repair. They contract out all the work to 3rd parties for both repairs and refurbishes.
Edited by neilf on Sunday 29th April 19:38
I picked up my 718 earlier in the month and like you had the hard sell on the GAP, tyre, alloy & SMART insurance...such a hard sell in fact that it almost ruined the handover experience...it was almost a stand off to get the keys.
It did however make me think about such things and as many have posted you can get similar cover for a fraction of the price (i found GAP for approx 30% of the OPC quote at a higher level of cover). The only thing I’m struggling to find is cover for the diamond cut alloys, but i do know somewhere local that does them with a 48hr turnaround vs. the 10 days quoted by the OPC.
It’s also worth noting that the policy isn’t a Porsche policy, its wheat ever agreement that the dealer has negotiated.
It did however make me think about such things and as many have posted you can get similar cover for a fraction of the price (i found GAP for approx 30% of the OPC quote at a higher level of cover). The only thing I’m struggling to find is cover for the diamond cut alloys, but i do know somewhere local that does them with a 48hr turnaround vs. the 10 days quoted by the OPC.
It’s also worth noting that the policy isn’t a Porsche policy, its wheat ever agreement that the dealer has negotiated.
Tim718 said:
I’m not going finance so I’ll probs skip the gap insurance.
The paint one doesn’t bother me as it sounds like most places that could/would chip aren’t covered.
May just go for the wheel and tyre cover.
Why would you skip gap if you aren’t going with finance?The paint one doesn’t bother me as it sounds like most places that could/would chip aren’t covered.
May just go for the wheel and tyre cover.
A friend of mine owned his car, it went to the dealer for a service, it caught fire and burnt the dealer service dept down (it wasn’t a Porsche), the insurance claim wasnt great, as they never are, but he had gap insurance do they gave him the difference up to the purchase price, so a policy that cost him a few hundred gave him tens of thousands back.
It doesn’t matter if you have finance or not, it’s an insurance product to protect you against poor payouts from a total loss.
Davidkn said:
Why would you skip gap if you aren’t going with finance?
A friend of mine owned his car, it went to the dealer for a service, it caught fire and burnt the dealer service dept down (it wasn’t a Porsche), the insurance claim wasnt great, as they never are, but he had gap insurance do they gave him the difference up to the purchase price, so a policy that cost him a few hundred gave him tens of thousands back.
It doesn’t matter if you have finance or not, it’s an insurance product to protect you against poor payouts from a total loss.
Why would anyone settle for a poor payout. Sounds like he was offered what it was worth and the gap insurance covered him back to invoice. Completely different thing to being caught in negative equity which is tradition gap insurance territory as I understand it.A friend of mine owned his car, it went to the dealer for a service, it caught fire and burnt the dealer service dept down (it wasn’t a Porsche), the insurance claim wasnt great, as they never are, but he had gap insurance do they gave him the difference up to the purchase price, so a policy that cost him a few hundred gave him tens of thousands back.
It doesn’t matter if you have finance or not, it’s an insurance product to protect you against poor payouts from a total loss.
Thanks Tim718 for raising this subject, I'm collecting this week and have some questions in order to best judge whether these insurance policies are worthwhile:
I have gone for the 20" Carrera Classic Alloy option on my base 718 Cayman:
a. Are these diamond cut alloys?
b. How much would it cost to fully refurbish/repair 1 alloy?
c. What tyres come with the car? Are they run flats?
d. How much does it cost to replace 1 tyre?
I'm currently getting quoted £964 for GAP, Tyre & Alloy for 3 years.
My last car was a 2y PCH BMW 420d where I took out none of the above. I had to replace 1 tyre which cost me £140 and I had to repair two alloys which cost me £70 each. I am considering the insurance policies with the 718 because I am guessing the replacement/refurbishment costs on the cayman may be higher?
Having said that they would have to be awfully high and I would have to be very unlucky to reach the £964 cost if I were to replace things as they get damaged.
I have gone for the 20" Carrera Classic Alloy option on my base 718 Cayman:
a. Are these diamond cut alloys?
b. How much would it cost to fully refurbish/repair 1 alloy?
c. What tyres come with the car? Are they run flats?
d. How much does it cost to replace 1 tyre?
I'm currently getting quoted £964 for GAP, Tyre & Alloy for 3 years.
My last car was a 2y PCH BMW 420d where I took out none of the above. I had to replace 1 tyre which cost me £140 and I had to repair two alloys which cost me £70 each. I am considering the insurance policies with the 718 because I am guessing the replacement/refurbishment costs on the cayman may be higher?
Having said that they would have to be awfully high and I would have to be very unlucky to reach the £964 cost if I were to replace things as they get damaged.
Twinfan said:
a. Yep, they're diamond cuts.
b. See above for a price estimate (£150)
c. Nope, they're not run flat tyres.
d. £250ish a corner
Thanks twinfan. Its a close one for me. Excluding the GAP insurance the Tyre & Alloy is totalling £672 which means I'd have to kerb 2 alloys (likely) but also have to replace two tyres (unlikely).b. See above for a price estimate (£150)
c. Nope, they're not run flat tyres.
d. £250ish a corner
I may take out the alloy one just so that I can have them refurbished annually. However on balance the tyre one may be worth taking a risk on.
n4aat said:
Davidkn said:
Why would you skip gap if you aren’t going with finance?
A friend of mine owned his car, it went to the dealer for a service, it caught fire and burnt the dealer service dept down (it wasn’t a Porsche), the insurance claim wasnt great, as they never are, but he had gap insurance do they gave him the difference up to the purchase price, so a policy that cost him a few hundred gave him tens of thousands back.
It doesn’t matter if you have finance or not, it’s an insurance product to protect you against poor payouts from a total loss.
Why would anyone settle for a poor payout. Sounds like he was offered what it was worth and the gap insurance covered him back to invoice. Completely different thing to being caught in negative equity which is tradition gap insurance territory as I understand it.A friend of mine owned his car, it went to the dealer for a service, it caught fire and burnt the dealer service dept down (it wasn’t a Porsche), the insurance claim wasnt great, as they never are, but he had gap insurance do they gave him the difference up to the purchase price, so a policy that cost him a few hundred gave him tens of thousands back.
It doesn’t matter if you have finance or not, it’s an insurance product to protect you against poor payouts from a total loss.
Vehicle replacement gap insurance: This covers the difference between the lump sum you get from your car insurer, and the amount your car would cost to buy new. This means you may get more than you paid to allow for the rising cost of cars.
Return to invoice gap insurance: This covers the shortfall between what your car insurance policy pays out, and the exact amount you paid for your car, and can be used for both new and second hand vehicles.
So gap for 3 years car gets written off in that time insurance pays out market value and then gap pays the difference of what you originally paid.
Not just for outstanding finance
AkashSaha123 said:
Thanks twinfan. Its a close one for me. Excluding the GAP insurance the Tyre & Alloy is totalling £672 which means I'd have to kerb 2 alloys (likely) but also have to replace two tyres (unlikely).
I may take out the alloy one just so that I can have them refurbished annually. However on balance the tyre one may be worth taking a risk on.
The tyre one you put a nail in it on the tyres edge so cant be repaired so.you get a new tyre. Make sure over 2mm thoughI may take out the alloy one just so that I can have them refurbished annually. However on balance the tyre one may be worth taking a risk on.
Naughty i know
AkashSaha123 said:
Thanks twinfan. Its a close one for me. Excluding the GAP insurance the Tyre & Alloy is totalling £672 which means I'd have to kerb 2 alloys (likely) but also have to replace two tyres (unlikely).
I may take out the alloy one just so that I can have them refurbished annually. However on balance the tyre one may be worth taking a risk on.
Your assuming they will do full refurb but most likely smart repair I may take out the alloy one just so that I can have them refurbished annually. However on balance the tyre one may be worth taking a risk on.
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