12-01-2019, 03:25 AM | #1 |
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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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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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MashinBenzin8454.50 GOWRIN110.50 |
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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Please see attached
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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. |
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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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, 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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12-02-2019, 07:26 AM | #12 | |
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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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The return to invoice will pay out the difference between the insurance settlement, and the original invoice amount. Quote:
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12-02-2019, 08:18 AM | #15 | |
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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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12-04-2019, 11:11 AM | #19 |
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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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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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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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