Gap Insurance, recent market ?

10 replies
Found 1st Sep 2016
One of many that has taken to leasing , i enter the unknown of GAP insurance.

I have read a fair few peoples advice, and i understand what it is for, but im not sure im getting the best deals.

There don't seem to be too many companies doing it, my insurance company (Hastings) don't do it, details required seem to be minimal and prices varied so i'm not sure of the accuracy

I have seen the following,

123gap - £86 - no cash back
ala - £142 - 10/11% cashback
click4gap - £200+ - £22.50 cachback
warrentydirect - couldn't quote as i dont have the required info yet

I have a golf r estate arrived soon, which is what these quotes are for - If anyone has any advice on getting a better deal it would be much appreciated.

On the topic of insurance its always so stupid with the renewal price sham, but i have never had them kick up a fuss about changing vehicle before - they wanted an extra £123 to swap from my Audi TDI Q to this , or i could cancel for £7 and take out somewhere cheaper , even with the same company that have quoted me a price £100 less than my current policy, they just try to confuse you into submission i think.

If anyone knows any insurance companies that offer both insurances combined, i would definitely be interested to see how the costs stack up.

10 Comments

I used Ala last week. Not the cheapest but gets the best customer and independent reviews

do you need gap insurance on a leased car? The difference between an insurance payout and the invoice value would be depreciation, that should be covered by the lease company and on them to insure?

Edited by: "jimhuf" 1st Sep 2016

Look on Piston heads forum a bug thread about gap insurance

I had a friend who took out a lease on a car. I asked him if he took out gap insurance and he said no. I told him I thought it was a good idea. He went back to the dealer and took out the insurance. The next day he wrote the car off. It saved him thousands.

+1 for ala - got gap for my car with them as they seemed to be most recommended company out of all those i looked at.

Looking at Gap, SMART & alloys insurance on a lease later this month. Dealership quoting approx. £400 per product, ALA was £450 all in (will check cashback sites, thanks!). Dealership saying other companies not quoting like for like, but ALA looked very similar.

Original Poster

Thanks for the comments, i will be spending some time this week dealing with this - i should have my reg number any day now

do you need gap insurance on a leased car? The difference between an … do you need gap insurance on a leased car? The difference between an insurance payout and the invoice value would be depreciation, that should be covered by the lease company and on them to insure?



It would be interesting to know if there is any truth in this, i kind of see where you are coming from but it seems like a common requirement for leasers , if its not required i think there will be a fair amount of people who forked out for no reason - im also swayed by the down votes on the comment o_o

Original Poster

Well i'm looking again(car due imminently), i wanted to try some more places and discovered autoebid.com/

they quoted me at £63.50 0.0

This info was taken from an old expired deal, which also went on to say ALA undercut the price by 20%.

Just getting in touch now to see how flexible they are.

Original Poster

well , it was positive.

They offer to beat the autoebid price @ £52 , but also advised me that they were not including initial payment with this (same as autoebids quote)

so discounted quote from ala including initial @ £92 which seems pretty good to me

Hi

Not sure if you are sorted but post #34 if you PM @markymark34 I'm certain you will get excellent advice about GAP and car leasing in general.
hotukdeals.com/dea…827
Cheers


Edited by: "deany76" 25th Sep 2016
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