Hello from ALA Insurance!

Author
Discussion

ALA Insurance

Original Poster:

154 posts

46 months

Wednesday 25th February 2015
quotequote all
Hello from ALA Insurance, PistonHeads’ new GAP insurance partner!

For those of you that don’t already know us, we’re an online GAP insurance specialist and have been providing an alternative to dealer-sold policies for almost 10 years. We also have other products including Scratch and Dent, Alloy Wheel, Tyre, Excess and Key insurance.

The partnership came about because PistonHeads noticed that you guys have been talking about ALA for a number of years and some of you have bought from us. As with most partnerships we want something that will benefit everyone so we’re hoping this not only helps support the site but passes savings on to all you PHers (and needless to say a bit of business coming our way never hurts!)

We’re a family run company and we pride ourselves on excellent customer service. We won’t be using the forum to push the hard sell (and I'm pretty sure we wouldn't last that long here if we did). Our aim with this is to give consultative advice on GAP insurance generally, as we know it can be quite a complicated product.

So if you don’t know your BTI from your VRI or why you even need GAP in the first place, and then give us a shout, we’ll be happy to help!

Come and check us out on http://www.pistonheadsgap.co.uk/ and as we know you tend to like a discount we’ll be giving 12% off for all you PHers – just use PISTON12 on the quote page.

If you need anything just drop me a line.

Thanks,
Katie

katie@ala.co.uk
01653 916304

eybic

8,305 posts

110 months

Wednesday 25th February 2015
quotequote all
As Katie says, if you have any questions relating to GAP insurance then feel free to ask them here thumbup

Fake7

620 posts

135 months

Wednesday 25th February 2015
quotequote all
Just for the sake of discussion (as i know I could just google it), could you explain what this is? I would hate to think i was missing out on something I didn't realise I needed.

ALA Insurance

Original Poster:

154 posts

46 months

Wednesday 25th February 2015
quotequote all
Thanks eybic.

Hi Fake7, that's what I'm here for smile GAP insurance is there to top up your comprehensive insurance settlement if your car is written off/ a total loss (accident, theft, fire, flood damage)

It's useful because almost all cars depreciate in value, which means any payment from your insurer is likely to be less than you originally paid for your car. The top up from the GAP policy means you're back in the same position you were in when you first bought the car. It's especially useful if you have finance, as sometimes your insurer's settlement won't be enough to cover the finance balance and it means you're not left with money to pay on a car that has been written off.

Let me know if you'd like more detail - this is a very broad description of GAP and there are a few different types of policies out there depending on your needs.

If there's anything else please let me know smile

Katie

Pete102

1,059 posts

122 months

Thursday 26th February 2015
quotequote all
Splendid, I was looking at ALA for gap insurance anyway. 12% off sounds even better!
Advertisement

ALA Insurance

Original Poster:

154 posts

46 months

Thursday 26th February 2015
quotequote all
Thanks Pete102 biggrin glad we could help!

Katie

HJMS123

982 posts

69 months

Thursday 26th February 2015
quotequote all
My lease car is due for delivery next Wednesday so I'll be getting my GAP sorted with you guys over the weekend! smile

ALA Insurance

Original Poster:

154 posts

46 months

Thursday 26th February 2015
quotequote all
That's great HJMS123! If you need any help setting the policy up or you have any questions we are open on Saturday so just give us a call smile

Thanks
Katie

LordGrover

29,954 posts

148 months

Thursday 26th February 2015
quotequote all
Does this work with 'not new' cars?
I declined Toyota's gap policy when I bought my car (on finance) a couple of years ago, but as it'll be paid for soon I'm reconsidering my decision.

ALA Insurance

Original Poster:

154 posts

46 months

Friday 27th February 2015
quotequote all
Hi LordGrover

The "usual" GAP insurance policies (Back to Invoice/Vehicle Replacement) can be bought for used as well as new cars. Back to Invoice can be bought for cars up to 10 years of age and Vehicle Replacement for cars up to 7 years old. However they are time-limited, in that they have to be bought within 180 days of the taking ownership of your car.

There is another policy that we may be able to offer - if you'd like to PM me I can run through the details with you and get you a quote to see if it's something you would be interested in smile

Thanks
Katie

Moose1978

643 posts

174 months

Saturday 28th February 2015
quotequote all
Hi Katie, can I just check I've understood this correctly. GAP insurance is there to cover my contracted payments should the car be written off.

For example, I've got a 2 year deal paying ~£300 p/m which I'm one month into. I write the car off tomorrow and my insurance covers the cost of the car, but the GAP insurance would be there to cover the rest of the monthly payments that I have signed up for?

Thanks

zeDuffMan

2,382 posts

87 months

Sunday 1st March 2015
quotequote all
I bought a policy with you in November. Seems very cheap for the level of cover, and more than 80% less than the dealer was trying to charge for less cover. Hope I'm not let down if the worst happens.

Vacumatic

188 posts

49 months

Monday 2nd March 2015
quotequote all
Can anyone comment please on how a claim actually works from their own experience.

I understood that most comp policies paid the new replacemnt cost for cars less than 12 months old, which should be enough to clear the lease, and also mean that there is no risk to GAP insurers in the first 12 months.


ALA Insurance

Original Poster:

154 posts

46 months

Monday 2nd March 2015
quotequote all
Sorry for the delay - new registrations are making the office a bit chaotic!

Moose1978, let me know if I've misunderstood, but it sounds like you're on a contract hire agreement where you pay an amount each month, hand the car back at the end and start again.

If this is the case you would need Contract Hire GAP. If your car is written off the GAP policy covers up to 100% of outstanding monthly payments. We also cover any difference between your insurer's payout and the amount the finance/lease company are expecting for the value of the car if there's a shortfall.

zeDuffMan - thank you! We always look VERY cheap in comparison to the dealers but as you've said you're getting a better level of cover smile they just charge a bit too much! Hopefully you'll never need it but we do get excellent feedback from our customers that have made a claim.

Vacumatic - I'm sure there are a few people who've had to use their GAP insurance and will be happy to give you some feedback smile we do have some video claims testimonials here from actual customers if these help at all!

Just on the topic of new for old, there are a number of insurers that offer this for brand new cars where you're the first registered owner. However if you have your car on a contract hire or lease agreement, as far as we understand it, this wouldn't benefit you that much, as even after the insurer's settlement you could still owe any monthly payments for the car left under the contract. This means that even if your insurer paid new for old you could still be left covering the rest of the finance.

This may not be the same on PCP or HP finance, or if you own your car outright, but GAP insurance has to be bought within 180 days of taking delivery of your car. There are some companies that offer deferred GAP policies where cover starts in year two but if for any reason your insurer only pays market value rather than new for old in the first year you won't be able to claim on the GAP. We don't offer deferred policies and recommend having GAP insurance from the beginning - it's a bit "belt and braces" but we do give you a FOC brand new policy matching the original if you do have a first year write off and your insurer pays new for old.

Hope this helps but anything else please let me know smile

Thanks,
Katie

Faxo

445 posts

74 months

Monday 2nd March 2015
quotequote all
Just purchased for my Golf R I picked up today, and just going to look for my mums new one tomorrow

Weren't the cheapest, but thought I'd go with Pistonheads recommendations!

alias2002

26 posts

45 months

Tuesday 3rd March 2015
quotequote all
Nice to have a better sound ALA Insurance. Wish your best business all around.

ALA Insurance

Original Poster:

154 posts

46 months

Tuesday 3rd March 2015
quotequote all
Thanks Faxo and alias2002, much appreciated smile

Katie

Faxo

445 posts

74 months

Tuesday 3rd March 2015
quotequote all
That's 2 sales from me alone via PH!

ALA Insurance

Original Poster:

154 posts

46 months

Wednesday 4th March 2015
quotequote all
Faxo - hope you got the Piston12 discount for each as well!

Katie

knitware

942 posts

129 months

Wednesday 4th March 2015
quotequote all
That was quick and easy, just made the 180 days too by 3 days...

Thank you.