Buy from as little as £37.00. Don't lose out if your car is written off or stolen
You pay an initial deposit, followed by monthly instalments, but a large portion of the loan is deferred until the end of the agreement. You can pay that final sum to own the car, hand it back or start another agreement.
If your vehicle is written off or stolen, your insurer will only pay you the market value of your vehicle at that time. Generally speaking, GAP insurance covers the shortfall created by depreciation, which affects almost all vehicles, and means you’re not out of pocket following a total loss.There are 3 specific types of GAP cover available from ALA:
Following a write off, this policy pays the difference between your insurer’s settlement and the original invoice price of your vehicle.
If you have finance and the amount owing to the finance company is more than the original cash price of the vehicle, ALA will pay up to that value instead.
This policy protects the amount you paid for your vehicle.
This policy pays the difference between your insurer’s settlement of market value and the replacement cost of a brand new vehicle (or one of the same age at the time of purchase if not brand new) of the same make, model and specification.
This policy protects the value of your vehicle, not just what you paid for it, and so ensures you’re not out of pocket if an equivalent vehicle costs more to replace.
This policy specifically covers vehicles under a lease or contract hire agreement. In the event of a total loss it covers up to 100% of the outstanding rental payments and any shortfall in the market value settlement from the insurer.
There is also an option to cover the initial rental paid at the start of the agreement meaning that, as well as clearing your liability under the contract, you receive a settlement to use as you wish.
ALA GAP Insurance policies are available for vehicles which have been delivered within the last 365 days.The vehicle must be under 10 years of age, have covered less than 80,000 (for Vehicle Replacement+ only) and be fully comprehensively insured.Certain types of vehicle are excluded from cover under GAP policies. Vehicles which are used for hire and reward, as a taxi/minicab, for driving tuition, delivery/courier work, for off-roading, racing, competitions or rallying cannot be covered.
A 3 year Back to Invoice + policy from ALA starts from just £78.00.With ALA you have a choice of cover and can select a term of up to 5 years.You can transfer your policy pro rata if you change your vehicle early and ALA never charge an administration fee for transfers or amendments to your policy.
Without GAP insurance you will only be paid the market value of your vehicle – this could leave you with significantly less money than you paid for your vehicle – and possibly less than you need to pay off any finance owing on the vehicle.With GAP insurance you can have the peace of mind of knowing that you are able to clear any outstanding finance and have any money left over to use on your next vehicle (or however you wish!)GAP insurance can also be handy if you’ve managed to negotiate a good deal on your vehicle. It may be that you can’t get the same deal again, so a car matching the original at the time you purchased it will cost you more. With Vehicle Replacement + GAP cover, you are protected against manufacturer or inflationary price increases if your car is written off.
ALA Insurance often hear from customers about the disproportionately high prices being charged for GAP insurance. ALA Insurance offers a competitively priced alternative, ensuring you can buy an excellent value product with confidence - and save a substantial amount of money in the process!