[DawleyBMW]

Who's everybody using? What sort of quotes are you getting?
BMW have offered it me at £599'ish
I haven't brought a new car for years so there's been no point in me having it but my new G21 will be here(touch wood) early next year and I'm keen to purchase some GAP Insurance.

Cheers

[Elliston]

I went with ALA. They had some good reviews, price matched a better quote and were a lot cheaper than dealership offering.

This is my first time buying a new car and gap, so others with more experience will know more.

[Pipsicles]

I was curious about this myself.

I have GAP with my current car and the GAP runs out today (I think). I was due to have a new car by now but with delays this didn't happen.

So my question was should I get a further 1 year GAP insurance to cover the time between now and my new car arriving or is this pointless when I already have a deal for new car based on current market value of my current car, rather than the original market price?

[330Stevie]

Originally Posted by Pipsicles

I was curious about this myself.

I have GAP with my current car and the GAP runs out today (I think). I was due to have a new car by now but with delays this didn't happen.

So my question was should I get a further 1 year GAP insurance to cover the time between now and my new car arriving or is this pointless when I already have a deal for new car based on current market value of my current car, rather than the original market price?

Probably not worth it….. you’ll only secure current market value as on now, so if new car on way it’s unlikely to be worth it.

[330Stevie]

Originally Posted by DawleyBMW

Who's everybody using? What sort of quotes are you getting?
BMW have offered it me at £599'ish
I haven't brought a new car for years so there's been no point in me having it but my new G21 will be here(touch wood) early next year and I'm keen to purchase some GAP Insurance.

Cheers

I’ve never used dealer’s gap. Try ALA, DirectGap, Motoreasy. I think some of the compare sites now have Gap on them…..
I went with motoreasy this time round. Return to invoice was £260 for 4 years

[paulockenden]

I went with totalgaploss. I liked them because their policy combined both return to invoice and replacement cost, paying out whichever is higher. Most other GAP insurers only offer one or the other.

[SilverGrey]

I went with ALA for my 330i saloon on a 4 year lease. Premium was £160.

[BennyDunks]

I use ALA they are PistonHeads partner for GAP and I think you can use PISTON12 for 12% off as well. If that doesn't work check PistonHeads for a more recent code!

[verysideways]

ALA with code MSE25 for 25% off

Used many times over the last few years but never had reason to claim so far thankfully, though i hear they're good to deal with.

[bmnut]

Originally Posted by DawleyBMW

Who's everybody using? What sort of quotes are you getting?
BMW have offered it me at £599'ish
I haven't brought a new car for years so there's been no point in me having it but my new G21 will be here(touch wood) early next year and I'm keen to purchase some GAP Insurance.

Cheers

ALA for me and they offer a little bit of discount when you tell them you are a Bimmerpost forum member!
They were slightly more expensive than some rival companies but use Lloyd's London based underwriters and not offshore based companies which I was more comfortable with.
Don't know which model BMW you are buying but I have the M440i.
My previous F32 440i and my wife's current 220i was/is insured with Direct Gap who I was going to use until they told me their underwriters wouldn't cover the 40i engined cars unless they were fitted with a Tracker! Never going to happen at that additional cost and I don't rate Tracker despite their claims of how good it is!

[Riccardog]

I have a related question, I'm on a 4yr PCP but didn't take any GAP. My reasoning was that for a brand new car in the 1st year insurance would pay for a new replacement. And from year 2, as I paid a large deposit (30%), I'm effectively self-insuring.

Am I thinking this right?

[thescouselander]

I'm using ALA too since they gave me a discount at the end of my previous policy. It was a little bit over £300 IIRC.

[Keith_C]

Originally Posted by Riccardog

I have a related question, I'm on a 4yr PCP but didn't take any GAP. My reasoning was that for a brand new car in the 1st year insurance would pay for a new replacement. And from year 2, as I paid a large deposit (30%), I'm effectively self-insuring.

Am I thinking this right?

Not really. The first part is mainly correct. Most, but not all insurance companies will payout the value of a brand new car in the first 12 months, but that only applies to newly registered cars as far as I'm aware.

If you paid £45k (you've put down £15k so owe £30k on the PCP) and your car was stolen and not recovered and the insurance valued it at £30k 18 months down the line, then that's all you're getting. Obviously, say 18 months down the line, your PCP payments have brought down what you owe to say £23k, then BMW get £23k as it's still their car and you get the rest, ie £7k.

So, financially, taking away the fact you've had the car for 18 months, the car has cost you £15k deposit, 18 months of monthly payments and you walk away with £7k in your pocket.

With back to invoice GAP insurance, you get £45k, you give BMW £23k for the car which leaves you with £21k in your pocket for your next car.

For the sake of a few hundred quid, I think the second scenario is worth every penny.

Of course, your car never get's stolen, then you're a few hundred quid better off come the end of the 4 years.

Obviously the above figures and values are made up but give you an idea of RTI Gap cover

[Riccardog]

Keith, thanks for that explanation. I had mis-understood that the value would be depreciated in years 2 and beyond. From what you say, and it makes sense at face value, "back to invoice" would mean I always get the full new value of the car, even in years 2 , 3 and 4.

Mind you, it does seem a bit open to gaming the system. It wouldn't be beyond man's wit to incur a total loss in the later years and profit quite handsomely. I think this is why I has assumed it must be the depreciated value.

I'll have a look at ALA et al. Btw, BMW dealer offered it at £550 from memory back when I got the car in July.

[xenon]

Bear in mind there is "Replacement GAP" (which works as you had probably imagined) and "Return to invoice GAP" - the return to invoice is obviously more expensive. If by "gaming the system" you mean insurance fraud then I suppose it is open. It's like the insurance itself; it's down to the individual's attitude to risk, i.e. will I risk imprisonment and life-time unemployability to scam £20k? You can guarantee a total loss in year 4 would be thoroughly investigated prior to settlement.

[Keith_C]

Originally Posted by Riccardog

Keith, thanks for that explanation. I had mis-understood that the value would be depreciated in years 2 and beyond. From what you say, and it makes sense at face value, "back to invoice" would mean I always get the full new value of the car, even in years 2 , 3 and 4.

Mind you, it does seem a bit open to gaming the system. It wouldn't be beyond man's wit to incur a total loss in the later years and profit quite handsomely. I think this is why I has assumed it must be the depreciated value.

I'll have a look at ALA et al. Btw, BMW dealer offered it at £550 from memory back when I got the car in July.

Just as an idea, I got mine almost 2 years ago now, Return to Invoice for just under £33k and it cost me £211 for 4 years cover.

It was gapinsurance.co.uk but a lot have used ALA especially with discount codes freely available.

[paulockenden]

That’s what I like about totallossgap- they pay out either the return to invoice value or the price of a new vehicle with the same spec, whichever is higher.

(Although, with deletions, it isn’t actually possible to order a car with the same spec as mine, right now!)

[330Stevie]

Originally Posted by paulockenden

That’s what I like about totallossgap- they pay out either the return to invoice value or the price of a new vehicle with the same spec, whichever is higher.

(Although, with deletions, it isn’t actually possible to order a car with the same spec as mine, right now!)

Same as motoreasy, I have return to invoice or replace, whichever is higher. Can’t get a new replacement atm tho!

[Andy3661]

I went with Admiral. Can't remember the cost but it wasn't that expensive for 3 years.

Less than £200.

[White91]

Originally Posted by Andy3661

I went with Admiral. Can't remember the cost but it wasn't that expensive for 3 years.

Less than £200.

I just went with Motoreasy, £250 for 4 years cover

[Osxboy]

Any recommendations for alloy wheel cover? Is it worth it for the 19” wheels as they are diamond cut? I’m looking at Motoresy for £254 which seems reasonable?

[Z_Victor1]

Interesting. Motoreasy just quoted me £533 for a 4-yr RTI Policy on a new G22......not exactly reasonable....