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MIkeyv60

Wow Gap insurance with ALA has shot up

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Always used ALA in the past, but just done a new quote and the cost has shot up!! Anyone else noticed this?

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On 10/25/2019 at 10:56 PM, MIkeyv60 said:

Always used ALA in the past, but just done a new quote and the cost has shot up!! Anyone else noticed this?

Was looking at getting some Gap insurance myself, but all quotes were way higher than I expected / what my neighbour had been paying for his.

If you find someone who will do it for a decent price please let me know😁

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2 hours ago, CAZ said:

Was looking at getting some Gap insurance myself, but all quotes were way higher than I expected / what my neighbour had been paying for his.

If you find someone who will do it for a decent price please let me know😁

Yeah all my past costs have been in the £180's to £220 , Ala wanted £316 . i ended up with a company called Direct gap at £234 , defacto rating as good as Ala , but as with any insurance you dont know how good they are until you need them?

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7 hours ago, MIkeyv60 said:

Yeah all my past costs have been in the £180's to £220 , Ala wanted £316 . i ended up with a company called Direct gap at £234 , defacto rating as good as Ala , but as with any insurance you dont know how good they are until you need them?

I insured the Box and my Fiesta with A plan as they mirrored my NCD ,were happy with mods and for an extra £42 a year gave me total loss cover , meaning that in the event of the car being written off they would give me open market value instead of book value ,plus an extra 25 % on top , so at 12 k should  give me an additional  3 k on top  - that was the best way round it that I could see for the value of my car.

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I let my ALA policy lapse when I got my current lease a year ago. Generally I only put 3 to 6 months down. 

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53 minutes ago, edc said:

I let my ALA policy lapse when I got my current lease a year ago. Generally I only put 3 to 6 months down. 

would you be repsonsible on a lease car?

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You can cover your up front payment. 

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12 hours ago, edc said:

You can cover your up front payment. 

Dont the lease company chase you for the difference between the remaining value and the amount the insuarnce company payout after its written off?

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I used to think this, and this was one of the reasons I got GAP in the first place but I've since read of a couple of people who have written off lease cars mid term and not had to settle any outstanding payments. 

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On 10/28/2019 at 10:29 AM, edc said:

I used to think this, and this was one of the reasons I got GAP in the first place but I've since read of a couple of people who have written off lease cars mid term and not had to settle any outstanding payments. 

Think thats a bit different as as long as you paid back over 50% of the final value of the car then you incur no more costs and i think you use Contract Hire GAP for lease vehicles not normal gap.

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