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#1 quarrier

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Posted 22 July 2013 - 09:56 PM

Hi all. I've just bought a new Fiesta Zetec S which I'll be picking up this week- my 1st new car ever! Really excited! Having never had a car from new before, I've been doing some research into gap insurance and am struggling to find reviews to help me make a choice. The Ford dealer has offered £450 for gap insurance for 3 years, but that seems a lot in comparison to quotes I've found on the internet. However, have also found a lot of companies online which seem to have had endless name changes or gone bust, so I'm just wondering what everyone else has done about gap insurance and whether the general feeling is that it's safer to go with the dealer. Are there any reliable, long-standing companies out there which I'm just missing?! Thanks in advance for any tips. :)



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#2 jeebowhite

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Posted 23 July 2013 - 04:53 AM

My last newest car I bought the GAP cover for about £230 from the dealer, which wasnt too badly priced.

 

You should look online and get a cheaper quote, but go with a branded company to keep it less likely that you will lose your money...



#3 quarrier

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Posted 23 July 2013 - 05:13 PM

Thanks for your response. I will try to get the dealer down to something more reasonable- would be happy to pay the figure you mentioned. Regarding internet companies, have found Frank Pickles (gapinsurance.co.uk) and ALA, both of which seem to have better terms and be more reliable than some of the others according to the few reviews I've come across. Has anyone used either?



#4 welshy_maverick

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Posted 23 July 2013 - 05:27 PM

I used ALA on my first 3 new fords but the last 2 and my new one i'm on pcp so got them to include gap then negotiated my monthly payments down to a figure i was happy to pay. If i ever had to pay gap again id go ALA, company seem good and customer service has always been excellent though I never had to make an actual GAP claim with them so cant help you there I'm afraid.

#5 Foci_st3

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Posted 23 July 2013 - 05:27 PM

I got gap for free with my dealer in Milton Keynes.

#6 Mr Singh

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Posted 23 July 2013 - 05:48 PM

what is gap insurance?



#7 jeebowhite

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Posted 24 July 2013 - 10:40 AM

Gap insurance is a policy to make sure you get every penny you paid for your car in the event of a write off... for example...

 

You buy your car for £10,000 today.

You buy gap insurance for 1 years for £150

 

then,nine months down the line your car is written off, with a ludicrously low value of £4,000 according to the insurers. Currently your 6k out of pocket. (lets say you do a lot of high miles traveling on personal hobby to foreign countries)

Because you have GAP insurance, the GAP insurer will pay you the difference between the insurers payout of £4k, and the value you paid for the car. So in essence, that extra £150 you paid when you bought the car, has just fetched you a very tidy £5,850 back from what otherwise would have been lost...

 

so now, your 9 months down the line from buying your lovely motor, and its been written off, but you have every penny you paid out for that car, back in your pocket.



#8 quarrier

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Posted 24 July 2013 - 09:58 PM

Thanks for the responses. I decided to go with ALA in the end. Got my gorgeous new car today! :)



#9 jeebowhite

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Posted 25 July 2013 - 07:59 AM

it is the law of this land that pictures must be supplied of all new to owner Ford Products ;) so we look forward to seeing it soon!



#10 B13

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Posted 26 July 2013 - 01:00 PM

I was just about to ask about GAP insurance, so thank you Quarrier for asking!

I'm collecting my lovely new little Fiesta on Monday - and Ford offered me GAP insurance at a stupidly high price, which I declined, so I'll now go and investigate ALA.

 

Have fun in your new car!

:)



#11 molesy66

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Posted 21 June 2014 - 07:23 PM

Never pay for gap insurance when buying a new car always tell the dealer you can get it free from another dealer guarantee there give it to u . Ps don't forget they need the sell..


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#12 jeebowhite

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Posted 21 June 2014 - 07:29 PM

thats not a bad gamble to play!



#13 molesy66

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Posted 21 June 2014 - 07:44 PM

Jeebowhite
Thanks it worked for me it should off cost me £350


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#14 jeebowhite

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Posted 22 June 2014 - 05:08 PM

That's definitely a good result. I bought it from kia when I got the ceed as I didn't research cost me 100 quid for three years wasn't too bad in comparison to what some charge but had I been clued up before could have got it cheaper

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#15 SandyCat

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Posted 23 June 2014 - 07:36 AM

When you get your GAP policy please take time to read it and pay attention to the terms and conditions.

 

There are different types of GAP policy.  Some are based on how much finance you owe, some on the purchase price etc.    GAP polices can be based purely on the Glasses guide basic price of the car less any extras (which is fine as long as you understand that) and have tight conditions about how and when you can claim.   It is also important that you keep all documents relating to the purchase of the vehicle and that you tell the GAP insurers of the claim immediately and don't accept any offer before getting their agreement.     Remember GAP insurers will always try and get your insurer to increase their offer to reduce their own payment so disputes are common.



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