Hello from ALA Insurance!

Author
Discussion

TroubledSoul

4,110 posts

130 months

Thursday 5th March 2015
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I've been having a look at this and I pick up our new car (just under 2.5 years old) on Saturday, so need to get a move on.

But I am confused as hell by which type of policy I need from the Back to Invoice and Vehicle Replacement options!

Car is on HP for 48 months, deposit probably came to about 12 or 13% of the price. Which policy should I be looking for a quote on and why?

ALA Insurance

Original Poster:

154 posts

46 months

Thursday 5th March 2015
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knitware - thumbup that's great, thank you!

Hi TroubledSoul, hopefully I can help make that a bit clearer. The difference between them is very slight and mostly down to personal preference.

First of all, whichever policy you decide to take, if the finance settlement figure is the higher amount at the time of a total loss this is the amount we will pay up to to from your insurer's settlement so that you are not left with any finance on a car you no longer have.

If you have a Back to Invoice policy and the invoice price is more than the outstanding finance, it will pay the difference between the settlement from your comprehensive motor insurer and the original cash price of the car, so the top up is up to the amount shown on your purchase invoice.

Alternatively if you have the Vehicle Replacement policy this will pay the difference up to the replacement cost of another 2.5 year old vehicle of the same make, model, specification and mileage as the car you are collecting on Saturday, even if that is more than you originally paid. It is protecting you from price rises and so could be more than the invoice price you paid. Also, if you have had any discounts on the original purchase price this protects you in the event that is not available next time.

The money from either policy is paid to you directly, it is just the amount we pay up to that varies depending upon which policy you choose. Once you have received settlement from us and your insurer, the finance can then be cleared and any monies remaining are yours to use as you wish.

If you're happy to be paid up the invoice price and are not worried about price increases, then Back to Invoice would be perfectly suitable for you. If you're concerned the car might cost more in the future then the Vehicle Replacement would be a better option.

I know you've spoken to my colleague in the meantime but hopefully this will help anyone in the same position.

Any other questions please let me know smile

Thanks
Katie

TroubledSoul

4,110 posts

130 months

Thursday 5th March 2015
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Cheers Katie.

I got a bit impatient and decided to go to the Live Help on your website. I must say that agent was very helpful and I now know what I want.

Thanks again!

ALA Insurance

Original Poster:

154 posts

46 months

Thursday 5th March 2015
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Thank you and sorry about the delay, I'm glad it helped you to decide which policy was best smile

Thanks
Katie

Moose1978

643 posts

174 months

Saturday 7th March 2015
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ALA Insurance said:
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.
Thanks Katie, where can I get a quote for contract hire GAP on your site?
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ALA Insurance

Original Poster:

154 posts

46 months

Saturday 7th March 2015
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No problem Moose1978, if you follow this link you'll be able to get a quote.

Where it asks for cost of car use either the vehicle list price or its P11d value, select the length of policy you need and the system will suggest a level of cover/GAP claim limit. With this last part you can tailor it further to your requirements; we base it on your total payments over the course of the contract with a bit extra on top for residual value, but this may vary depending upon your individual contract.

Anything else drop me a line smile

Thanks,
Katie

ALA Insurance

Original Poster:

154 posts

46 months

Thursday 19th March 2015
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We'd just like to say a big thank you to all the PHers that have bought from us over the last few weeks thumbup

If anyone has any other questions please let me know.

Katie

Dolf Stoppard

604 posts

58 months

Friday 20th March 2015
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Hello,

Can I ask what figure I should use for the full list price of car? Is it what I paid (it's a pre reg vehicle) or what it would cost new? I suspect it's the latter...

Thanks,
D.

ALA Insurance

Original Poster:

154 posts

46 months

Monday 23rd March 2015
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Hi Dolf Stoppard

If you're looking at the Vehicle Replacement + policy and the car is pre-registered you would need to use the price that you've paid rather than the full list price.

To explain, when your car has already been registered to the dealer it is no longer brand new. If you claimed we would top up your insurer's settlement to cost of replacing you car with a pre-registered car of the same make, model, specification age and mileage as the car you originally purchased.

I hope this helps, let me know if you have any other questions.

Thanks,
Katie

Dolf Stoppard

604 posts

58 months

Monday 23rd March 2015
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That's great. Thank you.

rongagin

462 posts

72 months

Wednesday 25th March 2015
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Just to say a big thank you to Katie for helping out my daughter (Caroline) today.
Also from me beer

ALA Insurance

Original Poster:

154 posts

46 months

Wednesday 25th March 2015
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Hi rongagin

No problem at all thumbup you're welcome!

Thanks,
Katie

mark944gold

112 posts

98 months

Saturday 28th March 2015
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Just about to pick up a New Nissan Leaf and wondered if I would put the invoice price down as the amount before the £5,000 government grant or after it has been taken off as in a couple of years if the car is written of and the government grant is not available the car would cost more to replace than I paid, buying on a pcp if that makes a difference.

ALA Insurance

Original Poster:

154 posts

46 months

Monday 30th March 2015
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Hi mark944gold

You're right, that government grant for EVs isn't going to be available forever and this why we suggest the Vehicle Replacement + policy rather than the Back to Invoice +. This is because the Vehicle Replacement policy will pay up to the replacement cost of another brand new Nissan Leaf, even if it is more than you originally paid. This means that should the grant be withdrawn you can still get the same vehicle without having to pay the extra cost. If you're getting a quote online you would use the full list price.

I hope this helps smile if you have any other questions please get in touch.

Thanks,
Katie

oilslick

580 posts

122 months

Wednesday 1st April 2015
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Hi Katie

I have a warranty question - I noticed that there's currently a 20% off code on warranties. The car I'd be looking to cover is under manufacturer's warranty until September, but I'm a tight northener and I'd really like to buy while there's a discount. Is it possible to purchase a warranty now and not have it start until September?

Thanks

ALA Insurance

Original Poster:

154 posts

46 months

Thursday 2nd April 2015
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Hi oilslick

We can do that for you so that you can take advantage of the discount, as long as the vehicle falls within the other limitations of the policy in terms of mileage etc. The system won't allow you to proceed online with a start date that is more than 30 days in advance so if you would like proceed with a quote and to run through the details please feel free to contact me on 01653 916301 or by email katie@ala.co.uk

Many thanks,
Katie

Rick101

5,630 posts

86 months

Friday 3rd April 2015
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Hello,

I looked on your website but it showed I wasn't eligible for cover. I was maybe looking for the wrong product. I'm not sure what I need.

I have a lease car through Gateway/Network. I didn't bother with GAP cover at the start as my car insurer offered full RRP payout in the case of write off (as it was a brand new car). When I come to renew in May, I imagine they won't offer that as it's now a year old.

I have one year remaining on my lease. Is there anything you would recommend?

ALA Insurance

Original Poster:

154 posts

46 months

Tuesday 7th April 2015
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Hi Rick101

You're right, comprehensive insurers do tend to only offer new for old for the first year of ownership (and it isn't always the best thing to rely on with a lease car, but that's another story!)

It may be something we can cover for the remaining year but it would probably be easiest to speak about it directly, as the website won't allow you to get a quote after 1 year.

Please contact me on 01653 916301 or by email katie@ala.co.uk and we can run through the details smile

Many thanks,
Katie

Rick101

5,630 posts

86 months

Wednesday 8th April 2015
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Will do. Ta.

youngsod

220 posts

118 months

Friday 10th April 2015
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Another happy customer here. I've just bought a better policy *much* more cheaply than was being offered by the manufacturer.

Can I also say that I emailed ALA a few months ago with some queries, and it was you who replied Katie. A more comprehensive reply I could not have wished for, and it was partly this excellent customer service that convinced me to buy insurance from you.

Thank you!