Promoted: Free 30-day GAP policy for PHers with ALA

[ALA Insurance]

Hi minky monkey

Glad we could save you some money

And, like you say, hopefully the policy is there just for peace of mind

Thanks,
Katie

Edited by ALA Insurance on Monday 5th February 16:37

[ALA Insurance]

Good morning rlg43p

Thank you for getting in touch.

We do have price match guarantee, so if you find a cheaper comparable online quote we can match the price. We can in this case offer our policy at the same price as car2cover, and if you would like to proceed on that basis please contact the office

Thanks,
Katie

[ALA Insurance]

Hi Michael

Thanks for getting touch.

We would suggest taking the GAP insurance out now to start on Saturday, so that you're covered from the minute you drive your car away. This is also because you get a thirty day cooling off period, so you can cancel the policy and get a full refund if you need to.

However, if you prefer you have up to 180 days from Saturday to purchase the policy so you can wait until next week if that is better for you.

I hope this helps and any other questions please let me know

Thanks,
Katie

[ALA Insurance]

Hi Michael

No problem at all - we do need to check a few more things to get you an accurate quote so it might be worth giving us a quick call.

If you're buying the car outright or on finance, as an example a 3 year Back to Invoice policy would be £166.32 (with the PH discount code applied of course! )

We will need a few more details and the quote process only takes a few minutes and the direct number is 01653 916301

[ALA Insurance]

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 [e-mail]

Thanks,
Katie

[ALA Insurance]

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

[ALA Insurance]

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 [e-mail]

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]

Hi Trainman

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

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

[ALA Insurance]

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

Thanks,
Katie

[ALA Insurance]

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

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

Thanks,
Katie

[ALA Insurance]

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

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

Thanks,
Katie

[ALA Insurance]

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

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

Thanks,
Katie

[ALA Insurance]

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

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

Thanks,
Katie

[ALA Insurance]

Hi 5er

Glad we could help and save you some money!

[ALA Insurance]

Hi Jono27,

Thanks for getting in touch.

I can confirm that there is a specific policy for Contract hire and leasing and its is called Contract hire GAP The forum code of "Piston12" is still very much available for pistonheads forum members . Don't worry about the thread being old as we are available over the phone[phone]) or online for any queries GAP related and are happy to help any way we can.

All the best,

Jason

[ALA Insurance]

Hi Alucidnation

Thanks for getting in touch.

We do match other companies' prices, as long as the cover is comparable. I think in this case it looks like it will be, we would just need to complete the details over the phone so that we can manually apply the new price.

We're open until 6.30 tonight if you'd like to give us a call to run through this with you

Thanks,
Katie

[ALA Insurance]

Hi everyone!

Just a quick update after the PH Sunday Service at JCB headquarters - we were delighted to be a sponsor of the event and there's lots of pics on the forum post here:

https://www.pistonheads.com/gassing/topic.asp?h=0&...

Hope everyone has a lovely bank holiday weekend

Katie

[ALA Insurance]

Hi MrBig

Thanks for your message.

We are indeed - we're the broker so in the unlikely event of us no longer being here the policy is still with the underwriter, who would therefore pay out if you needed to make a claim.

If the underwriter were to go into administration, your policy is protected under the Financial Services Compensation Scheme.

I hope this helps and if I can be of any further assistance please do not hesitate to contact me.

Thanks,
Katie

[ALA Insurance]

Hi tedblog

Thanks for your post.

I'd like to just have a bit of look into this further for you - please would you email your current policy details to me at [e-mail]?

Hope to hear from you soon.

Thanks,
Katie

[ALA Insurance]

Hi tedblog

I hope you're well and had a good weekend. I know we've been speaking on email but just wanted to put something on here as well.

There have been a few things which have impacted on the policy prices, hopefully you and the other PHers don't mind me running through these

Up until recently, Insurance Premium Tax had been 6% for a long time - the government increased it to 10% by the time you bought your policy and have since increased it again to 12%, which has had an effect on policy prices.

As you can imagine, our underwriters base all their prices on various risk factors. All of the non-GAP policies we provide (Alloy Wheel, Tyre, Scratch and Dent and Excess) are all lower in premium when bought with a GAP policy. Your original Alloy policy was purchased with GAP, whereas the new quote you're looking at is without GAP cover, and that does make it more expensive.

The underwriters have also updated the prices in line with the high number of claims that we've had on the policies - they're really popular policies, with lots of claims being made and this has had an impact on the prices since you bought your original policy.

All of these things combined have resulted in the increased prices and you've mentioned you're looking at covering any cost of repairing your alloys yourself in this instance. I look forward to hearing from you with regards to the GAP policy, as discussed there will be a pro rata refund due from when the car was sold.

I hope this all makes sense - sorry its a bit of a long post - and if you have any questions please let me know.

Thanks,
Katie