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      12-01-2019, 03:25 AM   #1
GOWRIN
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BMW Insurances? Gap, SMART, Alloy & Tyre

Picked up my 435D yesterday

While I was finishing the paper work I was offered a number of extra insurances. Sales person was great, explained all the options and was not pushy at all. I just wanted to get some advice on whether any of this is worth it and what others have gone for.

Have had gap insurance before but have never needed to use it luckily, it is £599 so is this worth it?

Alloy insurance is £249 for three years, up to 18 claims can be made, which seems like something that might be a good idea.

Or is it better to get the insurances from else where, all advise would be appreciated as I'm looking to get the best deal and of course service possible.

Thanks in advance
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      12-01-2019, 03:41 AM   #2
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Quote:
Originally Posted by GOWRIN View Post
Picked up my 435D yesterday

While I was finishing the paper work I was offered a number of extra insurances. Sales person was great, explained all the options and was not pushy at all. I just wanted to get some advice on whether any of this is worth it and what others have gone for.

Have had gap insurance before but have never needed to use it luckily, it is £599 so is this worth it?

Alloy insurance is £249 for three years, up to 18 claims can be made, which seems like something that might be a good idea.

Or is it better to get the insurances from else where, all advise would be appreciated as I'm looking to get the best deal and of course service possible.

Thanks in advance
GAP insurance much cheaper elsewhere. Try ALA with the 25% off money saving expert code - MSE25 iirc. Or frank pickles (gapinsurance.co.uk) with the bimmerpost code which I can't remember.

I used ALA for my Disco.

Alloy insurance, I've never bothered. Be careful with diamond cut alloys as they may be excluded.
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      12-01-2019, 05:57 AM   #3
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£599 for GAP is dear, my quote from my dealer is £399 for RTI gap (4 years) but I think again you can get it cheaper, however cheap insurance is no good if they don't pay out so if you get GAP make sure it's a good product that you purchase.

The rest as far as I'm concerned isn't worth bothering with (tyres/alloys/paint etc..)
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      12-01-2019, 06:30 AM   #4
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I negotiated alloy insurance to be thrown in as part of my deal. 18 claims is, as you say, decent however, it does not cover corrosion on diamond cut alloys (depends what you're going for) amongst others. Will attach screenshot of exclusions when not on my phone
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      12-01-2019, 06:36 AM   #5
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      12-01-2019, 07:55 AM   #6
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The sales chap, when I bought mine said "feel free to decline the World's most expensive GAP insurance"

ALA
Totallossgap
And many others will be a lot cheaper.
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      12-01-2019, 09:07 AM   #7
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ALA all day long for me. Always use them. No hassle, easy to change over onto another car if needed, up to 5 years protection, and pretty much unbeatable for price with the code MSE25.
And you can add the other stuff on as well if you like.
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      12-01-2019, 03:36 PM   #8
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Quote:
Originally Posted by MashinBenzin View Post
GAP insurance much cheaper elsewhere. Try ALA with the 25% off money saving expert code - MSE25 iirc. Or frank pickles (gapinsurance.co.uk) with the bimmerpost code which I can't remember.

I used ALA for my Disco.

Alloy insurance, I've never bothered. Be careful with diamond cut alloys as they may be excluded.
Quote:
Originally Posted by Wills2 View Post
£599 for GAP is dear, my quote from my dealer is £399 for RTI gap (4 years) but I think again you can get it cheaper, however cheap insurance is no good if they don't pay out so if you get GAP make sure it's a good product that you purchase.

The rest as far as I'm concerned isn't worth bothering with (tyres/alloys/paint etc..)
Quote:
Originally Posted by GC0215 View Post
I negotiated alloy insurance to be thrown in as part of my deal. 18 claims is, as you say, decent however, it does not cover corrosion on diamond cut alloys (depends what you're going for) amongst others. Will attach screenshot of exclusions when not on my phone
Quote:
Originally Posted by AlwynMike View Post
The sales chap, when I bought mine said "feel free to decline the World's most expensive GAP insurance"

ALA
Totallossgap
And many others will be a lot cheaper.
Quote:
Originally Posted by t5pilot View Post
ALA all day long for me. Always use them. No hassle, easy to change over onto another car if needed, up to 5 years protection, and pretty much unbeatable for price with the code MSE25.
And you can add the other stuff on as well if you like.
Quote:
Originally Posted by s11nny View Post
I just brought on Ala using discount code. Dealer wanted 619.
Ala came to 389.
4 yrs. Excess cover and i upped the claim limit to be sure
Vehicle replacement too.
The dealer alloy wheel one does not cover diamond cut rims which is stupid as most bmw have them
Thanks for all the help

I will check out ALA tomorrow, as that seems to be recommended by many and see what they quote me.
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      12-02-2019, 01:41 AM   #9
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Get the tyre insurance. I have had 3 punctures in 3 years needing new tyres so it was the best insurance i have ever bought. £299 insurance for 3 years and tyres are £210 each.
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      12-02-2019, 03:14 AM   #10
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I declined all the 'bits' when I bought my 520i last month

Tyre insurance sounds good but any replacements are pro-rata based on wear, ie if a tyre starts out at 8mm tread and is worn out out at 2mm, if you have a puncture on a tyre with 4mm tread you'll only get paid 33%

Obviously check the Ts and Cs but as I've only had a couple of punctures, both repairable in the last ten years I thought it'd be worth taking the risk
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      12-02-2019, 07:07 AM   #11
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Quote:
Originally Posted by Sasquartch View Post
I declined all the 'bits' when I bought my 520i last month

Tyre insurance sounds good but any replacements are pro-rata based on wear, ie if a tyre starts out at 8mm tread and is worn out out at 2mm, if you have a puncture on a tyre with 4mm tread you'll only get paid 33%

Obviously check the Ts and Cs but as I've only had a couple of punctures, both repairable in the last ten years I thought it'd be worth taking the risk
Stops people puncturing tyres when tread is low I guess.
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      12-02-2019, 07:26 AM   #12
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Quote:
Originally Posted by AlwynMike View Post
The sales chap, when I bought mine said "feel free to decline the World's most expensive GAP insurance"

ALA
Totallossgap
And many others will be a lot cheaper.
Pretty much the same for me - £800 quoted for GAP vs £390 (with discount) from ALA.

Was told BMW couldn't come anywhere close
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      12-02-2019, 07:41 AM   #13
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What GAP product would you recommend then?

For example if you have a £10K discount on RRP through BMW/Dealer contributions, on a £56K car (after taking off delivery/RFL/fuel), then is a 'Vehicle Replacement Plus' policy going to pay out on the difference between Insurance payout and £56K? (assuming no increase in cost)

Presumably if the cost of a like-for-like replacement had gone up by say £2K then the policy would pay out the difference between Insurance payout and £58K?

Sorry for the daft questions but this is the first time I've bought GAP insurance
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      12-02-2019, 08:04 AM   #14
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Quote:
Originally Posted by Blacktemplar View Post
What GAP product would you recommend then?

For example if you have a £10K discount on RRP through BMW/Dealer contributions, on a £56K car (after taking off delivery/RFL/fuel), then is a 'Vehicle Replacement Plus' policy going to pay out on the difference between Insurance payout and £56K? (assuming no increase in cost)

Presumably if the cost of a like-for-like replacement had gone up by say £2K then the policy would pay out the difference between Insurance payout and £58K?

Sorry for the daft questions but this is the first time I've bought GAP insurance
As far as Im aware, a replacement plus, just pays the shortfall of your finance.

The return to invoice will pay out the difference between the insurance settlement, and the original invoice amount.


Quote:
With Vehicle Replacement Plus, you will receive an additional settlement to cover the financial shortfall between your insurer’s settlement and the replacement cost of your vehicle. If you have a finance agreement, we will pay up to the outstanding balance on the finance agreement if this is the higher amount at the time of the claim.

This policy is suitable if you’re concerned about potential price increases where the cost of buying the same car again could be higher than the amount you originally paid; however, the replacement cost could also be the same or lower.
Quote:
In the event of your vehicle being declared a total loss, Return to Invoice gap insurance pays the difference between the motor insurers settlement and the purchase price paid for your vehicle.

If you purchased your vehicle under a finance agreement (except where the policy is transferred) and the outstanding finance balance at the point of total loss is greater than the original purchase price, RTI gap insurance will pay the difference between the vehicle value at the point of total loss and the outstanding finance balance.
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      12-02-2019, 08:18 AM   #15
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Quote:
Originally Posted by Blacktemplar View Post
What GAP product would you recommend then?

For example if you have a £10K discount on RRP through BMW/Dealer contributions, on a £56K car (after taking off delivery/RFL/fuel), then is a 'Vehicle Replacement Plus' policy going to pay out on the difference between Insurance payout and £56K? (assuming no increase in cost)

Presumably if the cost of a like-for-like replacement had gone up by say £2K then the policy would pay out the difference between Insurance payout and £58K?

Sorry for the daft questions but this is the first time I've bought GAP insurance
I went for Vehicle Replacement Plus for my LR, four year policy costing £352 and a max benefit of £50k. So insurance payout plus £50k is the maximum that I could spend to acquire a replacement. That was against a discounted price of £68k, list probably similar to the X3M list at c.£80k (can't remember exactly). Vehicle value in the policy is listed as my invoice price, not the list price.

ETA - meaning that if I wrote it off in year 4 and prices had risen, and I got e.g. £28k as insurance payout, I'd be able to spend up to £78k If that was the best I could do at that point.
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      12-02-2019, 08:58 AM   #16
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Thanks to everyone for recommending ALA, GAP cover to bring my back to what I paid for my car is about £50/year. It's a no brainer.
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      12-02-2019, 08:58 AM   #17
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Thanks chaps - sounds like it's VRP I should be going for
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      12-03-2019, 11:37 AM   #18
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I've used ALA before but I think their gap policies are now max 4 years.

Direct Gap did me a 5 year policy for £250
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      12-04-2019, 11:11 AM   #19
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Quote:
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I've used ALA before but I think their gap policies are now max 4 years.

Direct Gap did me a 5 year policy for £250
I was going to go with ALA but is Direct Gap better/reputable?
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      12-04-2019, 11:21 AM   #20
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Quote:
Originally Posted by GOWRIN View Post
I was going to go with ALA but is Direct Gap better/reputable?
Both ALA & Direct Gap are the brokers I think.

The actual underwriter for mine is Acasta European Insurance. Can't find any reviews on them but one can only hope they are still operating if i need to make a claim!

ALA customer service is brilliant though, you can't go wrong.
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      12-04-2019, 11:46 AM   #21
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Quote:
Originally Posted by The0pportunist View Post
Both ALA & Direct Gap are the brokers I think.

The actual underwriter for mine is Acasta European Insurance. Can't find any reviews on them but one can only hope they are still operating if i need to make a claim!

ALA customer service is brilliant though, you can't go wrong.
Cheers, will have a read and see. I guess it comes down to whether it is worth taking the risk, will see how the quotes compare.
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      12-12-2019, 10:32 AM   #22
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BMW Dealer using same underwriter/provider as Direct Gap

Again would like to say thanks to everyone

So while I have been looking around for GAP Insurance I noticed that the policy documents that I was given from the BMW Dealer and products provided by Direct Gap look exactly the same... Products such as Allow Wheel Insurance, Scratch & Dent Insurance (SMART Repair), Tyre Insurance.

The Product Information Document looks almost identical and quoted the following:

'This insurance is underwritten by Motors Insurance Company Limited which is registered in the UK. Motors Insurance Company
Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential
Regulation Authority. Financial Services Register number: 202875.'

The only difference with the two policies were that BMW offered these products for cars up to 10y/o and under 100K when taking out the policy but Direct Gap only do it for cars up to 3 y/o and 50k miles.

Gap Direct are only charging £249 for a 5 Year term and seem pretty legit after my research so will go with them as it is less that half of what the dealer wanted and it covers me for an EXTRA year.
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