Hello from ALA Insurance!

Author
Discussion

Mercury00

3,414 posts

92 months

Friday 30th March
quotequote all
Lad! I missed the discount code on the first page. Never mind, I still got 10% off my GAP insurance smile

upperolland8

1 posts

83 months

Monday 2nd April
quotequote all
Hi, I was wondering if you or anyone in here could answer a couple of questions I have about combined gap/rti insurance?

What I’m trying to get my head round is the benefit of having a combined/better policy of Just Gap?

I’m currently looking into buying a car, on finance and what to be sure I am covering myself on all angels.

So, if the car is say £10000, I put down a £2500 deposit and then take out the rest on finance.
I take out the combined insurance.

A couple of months later I have an accident, but the car is now only worth, let’s say £9,000 on offer from the insurance company. What does the insurances then cover?

Also, what happens to the finance and am I then without a car?

Thanks.

ALA Insurance

Original Poster:

154 posts

46 months

Wednesday 4th April
quotequote all
Hi Mercury00

I'm sorry you didn't get the PH discount code - if you'd like to email me your policy details, I'll be able to refund the difference so that you do get the 12%.

My email address is katie@ala.co.uk biggrin

Thanks,
Katie

ALA Insurance

Original Poster:

154 posts

46 months

Wednesday 4th April
quotequote all
Hi upperolland8

Thanks for getting in touch and I'm sorry for the delay.

If you take combined RTI GAP/Back to Invoice+, the policy will pay up to the cash price of your car or the amount you owe on finance, whichever is the higher figure at the time of the claim.

In your example, if you pay £10,000 for a car and you get £9,000 from the insurer following a write off, the Back to Invoice + GAP insurance will pay you the additional £1,000.

Out of the £10,000, you would need to pay the finance company their settlement amount (possibly £8,000 including some interest), and then the remaining £2,000 is yours to use as a deposit on your next car.

If you had a Finance GAP policy instead, in this scenario, the insurance company will most likely have paid enough to clear the finance so you wouldn't receive any payout from the GAP insurance.

I hope this makes sense but if you need any clarification please let me know.

Thanks,
Katie



wilbo83

1,244 posts

101 months

Tuesday 17th April
quotequote all
Do ALA price match? If so, how do I go about this?

Also, does the gap insurance have to be in place prior to collection or can it be arranged afterwards?
Advertisement

Trainman

14 posts

34 months

Tuesday 17th April
quotequote all
Good Morning,

I will be leasing a Ford Kuga through Ford Lease and it is being delivered next week.

Not too sure how GAP works for a lease car and what the differences are between that and a standard return to invoice policy is..

Secondly, is there a PH discount code please ?

Thanks

Trainman

14 posts

34 months

Tuesday 17th April
quotequote all

Just found the discount code thanks !

ALA Insurance

Original Poster:

154 posts

46 months

Tuesday 17th April
quotequote all
Hi wilbo83

Thanks for getting in touch.

We can match the price of a cheaper comparable online GAP quote. We would need to run through the details with you over the phone so that we can manually adjust the price for you, but this usually only takes around 10 minutes. If you'd like confirmation by email initially you can always send the details to me on katie@ala.co.uk smile

We would usually suggest that you purchase the GAP insurance in advance so that it starts on the day you collect your car but you can choose to purchase it up to 6 months afterwards if you prefer.

I hope this helps and I look forward to hearing from you for the price match.

Thanks,
Katie

ALA Insurance

Original Poster:

154 posts

46 months

Tuesday 17th April
quotequote all
Hi Trainman

Thanks for your message and glad you've found the code biggrin

If you're leasing the car (contract hire rather than contract purchase) you would need our Contract Hire + GAP policy. Return to Invoice is only suitable for cars that are being purchased (either outright or on finance).

The Contract Hire + GAP policy covers up to 100% of the outstanding rental payments and any shortfall in the motor insurer's market value settlement, with the option of covering your initial rental payment as well. We're basing this on worst case scenario but the liability can vary depending upon the finance company so it might be worth checking your contract to see what you would be required to pay.

I hope this information helps but if you do have any other questions at all please let me know.

Thanks
Katie

James-70g6i

3 posts

21 months

Sunday 22nd April
quotequote all
Hi Guys - Just to make you aware, be careful before you purchase GAP insurance on a new car as some insurance policies such as that with NFU Mutual have cover for cars up to 2years old from purchase included.

GAP is a great cover and ALA market leaders just to point out check your policy first as you might already have it.

Best

JP

ALA Insurance

Original Poster:

154 posts

46 months

Tuesday 24th April
quotequote all
Thanks James-70g6i. This is a great point, and there is only one thing that I would add to it.

For brand new cars (where you're the first registered owner) GAP insurance can only be bought for up to 365 days after taking delivery of your car. This means that if you do plan to keep your car for longer than two years you will still need to buy separate GAP cover while the car is less than 12 months old.

If the car is a total loss in the first 2 years the NFU say they'll give you a new replacement car, this could depend upon the circumstances of the claim. If this happens your GAP insurance wouldn't need to pay out, so ALA would re-start the policy from scratch on your new car at no extra cost. If, for any reason, they only pay market value the GAP insurance will be there to cover the shortfall.

I hope this makes sense. This is quite general and there are a few other things that should be considered. If anyone would like to talk about this further or has any other questions please let me know biggrin

Thanks,
Katie

page3

3,580 posts

187 months

Monday 4th June
quotequote all
Hi

Planning on getting Back to Invoice GAP cover for our PCP car which is 11 months old.

Just to be clear, do I qualify? The headline details says 360 days, but the policy wording PDF says "Eligibility - 3. You purchased the motor vehicle less than 180 days before the cover start date".

Invoice is 20,698.40 but as a year of depreciation has already hit what level of cover should I do? The suggested £12,500 sounds a bit high. Also, as it's a 3 year PCP do I only do 2 years cover, which would risk the last few weeks of ownership lacking any cover?

ALA Insurance

Original Poster:

154 posts

46 months

Monday 4th June
quotequote all
Hi page3

Thanks for getting in touch.

I'm sorry for the confusion! There are two versions of the policy wording and when you follow the route through the system confirming that you've had your car more than 180 days but less than 365 days, it provides you with a quote on that basis and your policy will say "You purchased the motor vehicle less than 365 days before the cover start date".

In terms of the claim limit, it does suggest this based on average rates of depreciation. It is assuming worst case scenario, so you can choose to reduce it if you think its a little on the high side smile

For the term of cover, our highest point of liability is right at the end of the policy term. At that stage your outstanding finance will be comparatively low, but we would still pay the difference between the insurer's market value settlement and the original invoice price. For this reason we would suggest that you cover the full 3 years. The policy is then transferable if you change the car before the cover has ended.

I hope this helps and makes sense!

If you would like any more information please let me know biggrin

Thanks,
Katie


RedCarsAnonymous

89 posts

56 months

Wednesday 6th June
quotequote all
I bought a used car yesterday at a small dealership (less than 30 cars in stock, sells 2 to 3 a week) - the invoice is a generic car sales form with an ink stamp of the dealers details at the top, the VAT number (which is genuine) is handwritten. Does this constitute a VAT invoice as far as your gap insurance is concerned?

smile

ALA Insurance

Original Poster:

154 posts

46 months

Thursday 7th June
quotequote all
Hi RedCarsAnonymous

Thanks for getting in touch.

If the garage is genuinely VAT registered, this can be checked through other means so it being handwritten wouldn't be a problem and would mean that you were eligible for one of our policies smile

I hope this helps. If you have any other questions at all please let me know.

Thanks,
Katie

StamfordB

20 posts

8 months

Tuesday 12th June
quotequote all
Hi. Getting a new car on Thursday , is there still a Piston heads discount code ??

ALA Insurance

Original Poster:

154 posts

46 months

Tuesday 12th June
quotequote all
Hi StamfordB

Thanks for your message.

Absolutely - please use the Piston12 code when you're getting a quote online and this will take 12% off the premium for you party

If you have any questions about our policies or quotation please let me know biggrin

Thanks,
Katie

fuzzymonkey

222 posts

161 months

Saturday 16th June
quotequote all
Hi
If i get a new car on PCP and then pay it off a year later, would the gap policy still be valid for its full term?

ALA Insurance

Original Poster:

154 posts

46 months

Monday 18th June
quotequote all
Hi fuzzymonkey

Thanks for getting in touch.

It would indeed - if you have finance to start with and then pay it off part-way through, your Back to Invoice + or Vehicle Replacement + GAP insurance will still be valid for the remainder of the term. We will still cover the difference between your insurer's market value payment and the original invoice price/replacement vehicle cost. The only difference is that you don't have to pay any of your settlement to a finance company as they have already had their payment and you own your car outright clap

Hope this helps but please let me know if you have any other questions.

Thanks,
Katie


5er

3,152 posts

111 months

Thursday 21st June
quotequote all
Just got my GAP through ALA for just under half the price that the dealer quoted on my new Volvo V60.

Cheers!