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

[ALA Insurance]

Good Morning

Don't worry we can get that sorted for you

Please would you pop me an email to [e-mail] with your policy number and I'll be able to get the 25% refunded to you.

Thanks,
Katie

[On the move]

Brilliant, many thanks Katie! Will send details shortly.

[5678]

Question on the differences between Vehicle replacement and Back to Invoice...

Say £50k car on finance.
Balloon is £25k.

Total loss after 2 years
Car value £30k
Settlement figure £35k

I'd receive £30k from my insurer towards the finance.
I'd then receive £5k from yourselves to cover the rest of the finance.

If a replacement car would cost £50k again, how would the two policies vary for the remaining £15k? Would either (or both) give me a £15k lump sum to do with as I wish? Or would it need to be directed towards a car?

If the replacement car was going to cost £60k, I would expect RTI to pay me a £15k lump sum. But what would the Vehicle replacement policy do, would I receive a £25k lump sum, or do I have £25k to steer towards a purchase, not actually seeing the money myself as such?

Thanks

[ALA Insurance]

Hi 5678

Thanks for your message.

First of all, whichever policy you purchase, we will pay a cash settlement to you and not to a garage.

As you rightly say, the Back to Invoice policy is paying up to the original invoice price of your car. I'll just run through your example to keep it clear:

Invoice price: £50,000
Total loss after 2 years
Insurer pays £30,000

Back to Invoice + will pay you £20,000 - this can be used in conjunction with your insurer's settlement to pay off the finance (£35,000) and you would have the £15,000 left over.

Vehicle Replacement + would look at the replacement cost of car matching the original (brand new if your car was brand new when you bought it). Therefore if the replacement was £60,000 we would pay you £30,000, and this would still be a cash settlement to use as you wish.

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

Thanks,
Katie

[Mr Tidy]

Interesting post!


But my car seems to have a modification!

[ALA Insurance]

Hi Mr Tidy

Thanks for your post.

Can I check what the modification is, as it may not affect the GAP insurance. If you would prefer to contact me directly, my email is [e-mail].

Thanks again,
Katie

[omariqy]

Hi all

My BMW dealer mentioned that under their insurance policy they are able to offer a rebate if I don't claim under the policy. Is this true for the ALA policy?

I have also found cheaper cover with Motor Easy - how do they compare with ALA?

[ALA Insurance]

Hi omariqy

Thanks for getting in touch, I'm sure the other PHers will be happy to help out/add to anything I put on here

If you sell or change your car before the policy expires, and if you also have not had to make a claim, you can contact us for a pro rata rebate which can be used against a new policy, or a pro rata refund which would be less a £35.00 cancellation fee - however this is the only time we ever have an admin fee.

With your question about Motor Easy, other forum members might be able to give you more insight if they have actually had cover with them. We are aware that their policies have a market value clause. This could mean you are left out of pocket if your insurer doesn't pay the full market value of your car at the time of a claim, as the GAP insurance would cover from what they believe you should have received, not what you have actually been paid.

We don't have one of these clauses in our policies, we simply make up the difference from your insurer's settlement even if it is slightly lower than we would expect it to be.

In terms of cost don't forget the discount codes we offer - the MSE code is still valid for another couple of weeks


I hope this helps but if you have any other queries please let me know

Thanks,
Katie

[omariqy]

Thanks Katie. Is that rebate covering the remaining term of the policy i.e. if you change your car after 3 years of a 4 year policy you get 1 year rebated to use against the next car?

[ALA Insurance]

That's no problem at all.

You're absolutely right, although we daily pro rata the original premium to make sure it is as accurate as possible. We then use this against the new policy price, leaving just the balance to pay.

If there is anything else I can help with please drop me a line

Thanks,
Katie

[omariqy]

Thank you very much. I was looking through the product features for both GAP and the Tyre/Alloy insurance. This is what they highlight. Would you mind just coming back to me whether any of the exclusions/limitations apply on your policies?

GAP

Features of our Return to Invoice Guaranteed Asset Protection:
- No Market Value Clauses, pays from Motor Insurance pay-out (no shortfall)
- Available to Cash and Funded purchases
- Covers Factory Fitted Options
- Covers Dealer Fitted Accessories
- Cancellable within first 30 days and fully refundable
- Cancellable within term of agreement with pro-rata refund
- £250/£500 contribution towards vehicle excess
- Professional, dedicated and supported claims team
- Available for vehicles up to 10 years old with less than 80,000 miles
- Underwritten by one of the UKs most well know insurers

Other providers may not offer the same level of comprehensive cover. Please be aware of
exclusions or limitations like:
- The insurer will only pay the difference between the MARKET Value and retail invoice price of your
vehicle (potential shortfall)
- Excludes Motor Vehicle Excess contribution
- Exclude Factory Fitted Options
- Excludes Dealer Fitted Accessories
- No Pro Rata Refund available on cancellation
- Not Transferable
- Policies underwritten in emerging/developing economies
- Products that are not regulated by the Financial Conduct Authority


Tyre/Alloy

Features of our Tyre Insurance (Tyre and Alloy Insurance):
- No claim excess
- Available to Cash and Funded purchases
- £125/£250/£300/£450 claim limits available
- Fully trained mobile repair network
- No qualification period - cover from day 1
- 5 x tyre damage replacements
- Tyre replacement if damage makes tyre illegal (side-wall). Tyre does not need to fully deflate
- 5 x alloy wheel repair/refurb
- Like for like tyre replacement no cheaper alternative used
- Unlimited puncture repair
- Cancellable within term of agreement with pro-rata refund
- Professional, dedicated and supported claims team
- Policy can be transferred should you purchase another vehicle
- Available for vehicles of any age with a mileage of less than 100,000.
- Convenient, safe and reliable


Other providers may not offer the same level of comprehensive cover. Please be aware of
exclusions or limitations like:
- Claim excess to be paid by customer
- Often only Annual policies available
- Extended qualification periods before a claim can be made - usual a minimum of the first 30 days
- Short claim periods (within 7 days)
- Lower claim limits
- Lower value/inferior tyres added as replacements
- Tyre has to fully deflate to be covered
- Non transferable
- No pro rata refund for early cancellation
- Vehicle age & mileage exclusions
- Reduced claim settlement based on tyre wear

[ALA Insurance]

Hi Omariqy

I've had a look through the details you've mentioned for each of the policies and the only difference with the GAP insurance is that ours is a fixed £250 excess contribution on the GAP policy (we don't have a £500 option). We are underwritten by an A+ rated insurer who operate all over the world - they have an office in London and their main office is in Munich.

With our Tyre insurance we don't have a contracted repairer, you can use any VAT registered repairer if you need to make a claim, and there is no excess to be paid in the event of a claim. I do have to point out that we have a 14 day initial exclusion period and a choice of two claim limits (£150 or £300). You can claim a maximum of 5 times for either repair or replacement of your tyre which must have a tread depth of at least 2mm at the time of a claim (but there are no deductions made for wear otherwise). The tyre policy is transferrable in the same way as the GAP if you change your car and no claims have been made. Also our Alloy Wheel policy can be purchased separately, it isn't included in our Tyre insurance.

If i can help any further please let me know

Thanks,
Katie

[omariqy]

ALA Insurance said:

Hi Omariqy

I've had a look through the details you've mentioned for each of the policies and the only difference with the GAP insurance is that ours is a fixed £250 excess contribution on the GAP policy (we don't have a £500 option). We are underwritten by an A+ rated insurer who operate all over the world - they have an office in London and their main office is in Munich.

With our Tyre insurance we don't have a contracted repairer, you can use any VAT registered repairer if you need to make a claim, and there is no excess to be paid in the event of a claim. I do have to point out that we have a 14 day initial exclusion period and a choice of two claim limits (£150 or £300). You can claim a maximum of 5 times for either repair or replacement of your tyre which must have a tread depth of at least 2mm at the time of a claim (but there are no deductions made for wear otherwise). The tyre policy is transferrable in the same way as the GAP if you change your car and no claims have been made. Also our Alloy Wheel policy can be purchased separately, it isn't included in our Tyre insurance.

If i can help any further please let me know

Thanks,
Katie

That's fantastic, thank you. Do you include diamond cut alloys in your policy?

[omariqy]

Went ahead with ALA gap insurance. Thanks to the 25% discount code!

[ALA Insurance]

Hi omariqy

I'm so sorry for the delay - by now you might have already seen that we don't offer cover for diamond cut wheels but if this causes you any issues please let me know.

Also thank you very much for the policy purchase. Just for everyone else who might be looking to use it, it is only valid until 31st December 2017 but any quotes which are saved with the code will be honoured into the New Year

Thanks,
Katie

[omariqy]

Thanks Katie, I will have to look elsewhere for the Tyre/Alloy insurance.

[juggsy]

Hi Katie,

Looking to get a new policy, had one with you over the last 2 years but recently changed cars.

DirectGap seem to be doing keener prices than yourself even with the MSE discount codes. This is for vehicle replacement+, and they have an unlimited claim limit. Can you match their prices?

Thanks

[ALA Insurance]

Hi juggsy

Thanks for your post.

I'll certainly have a look at this for you. Please would you send me the details on email of your previous policy and the new quotation and I'll get back to you asap with the updated quote my email is [e-mail]

Thanks,
Katie

[ALA Insurance]

Hi everyone

Just a quick message to say Merry Christmas to all you lovely PHers from the team at ALA. We hope its a good one and we wish you all the best for the New Year

Just to let you all know Christmas opening times, we're in the office 8.30am to 4pm on Friday 22nd December, from 9am to 2pm on 27th, 28th and 29th December, and then back to normal opening hours (8.30am to 6pm Monday to Friday) from 2nd January 2018. We'll get back to any queries as soon as we can.

Thanks,
Katie

[juggsy]

ALA Insurance said:

Hi juggsy

Thanks for your post.

I'll certainly have a look at this for you. Please would you send me the details on email of your previous policy and the new quotation and I'll get back to you asap with the updated quote my email is [e-mail]

Thanks,
Katie

Thanks Katie I’ve sent you an email