Which GAP Insurance policy is best? Comparing ALA and Click4GAP

In today’s world, understanding and comparing GAP insurance options can be a daunting task. You need a provider that will meet your and your vehicle’s needs, as well as be reliable and affordable.

This guide aims to simplify the GAP insurance comparison between our policies at ALA and the ones provided by Click4GAP. By the end of this guide, you’ll have a clearer picture of GAP insurance, how to recognise a good deal, and the key features offered by our services and Click4GAP.

What is GAP Insurance?

GAP (Guaranteed Asset Protection) insurance is a form of coverage designed to bridge the “gap” between the outstanding balance of your vehicle finance or the initial purchase price of your vehicle (whichever is higher) and the market value of your vehicle at the time. This ensures that even though your primary insurance only pays the current market value of the car, you won’t be left out of pocket..

There are four main types of GAP insurance; Back to Invoice (or Return to Invoice), Vehicle Replacement, Contract Hire and Agreed Value.

For instance, with RTI GAP, if you buy a vehicle for £20,000, it gets written off, and your motor insurer pays you £15,000 due to depreciation, GAP insurance would cover the £5,000 “gap” between how much you paid for the vehicle and its value at the time of the write off.

You can find out more about GAP insurance on our insights page.

How do I Know if I’m Getting a Good Deal on GAP Insurance?

When considering GAP insurance, the best deals are determined by several factors:

• Price: This seems obvious, but it’s essential to know the average cost of GAP insurance to ensure you’re not overpaying. Prices can vary, but on average, GAP insurance can cost between £100 and £300 per policy. You can start building your GAP insurance quote here.
• Coverage Terms: Check for any exclusions and the maximum pay-out limits.
• Benefits: Different providers might offer added perks like excess contribution, flexible plans, or finance cover.
• Customer Reviews: Often, the real test of an insurance provider is in the feedback from its users particularly if they have had to make a claim. Websites like Trustpilot can offer invaluable insights.

GAP Insurance with ALA

As one of the most prominent providers of GAP insurance in the UK, we can ensure you are getting the most out of your policy. Here’s a breakdown of our offerings:

• Excess Contribution: we contribute up to £250 towards your motor insurance excess in the event of a total loss claim.
• Finance Cover: This is built into our policies so that if you owe more on finance than the original cost of the vehicle if it is written off or stolen, we will pay the difference up to that amount.
• Best Value: Known for competitive pricing, we frequently offer promotions or discount codes to provide added value to customers.
• Flexible Plans: we offer multiple GAP insurance types, catering to different needs – whether you’ve bought your car outright or on finance, or if it’s leased
• Best Rated on Trustpilot: With an excellent Trustpilot rating, we take pride in having a significant number of satisfied customers, making us a trusted choice for many.
• GAP Insurance Types: We provide options such as Back to Invoice, Vehicle Replacement, Contract Hire, and Agreed Value GAP.
• Payout Rates: We have one of the industry’s highest payout rates.
• Customer Service: Known for our responsive and helpful customer service, we can ensure that policyholders have a seamless experience from purchase to claim.

You can get in touch with a member of our team today to discuss your bespoke GAP insurance quote.

GAP insurance with Click4GAP

Click4GAP is another major player in the GAP insurance space. Here’s what they bring to the table:

• Excess Contribution: Like ALA, Click4GAP also offers excess contribution to help you cover any additional expenses from your primary insurance.
• Finance Cover: Ensuring you don’t face debts after a total loss, Click4GAP provides thorough finance coverage.
• Best Value: Typically offering competitive rates, Click4GAP also runs periodic promotions to give customers more for their money.
• Flexible Plans: They provide a variety of insurance plans tailored to fit different financial and car purchasing scenarios. However, GAP insurance can only be taken out 90 days after the car was purchased on all plans.
• GAP Insurance Types: They offer several policies such as Return to Invoice, Vehicle Replacement, and Finance GAP.

Click4GAP also has a cheaper Back to Invoice deal; for instance, if you want 36-month GAP insurance on a £12,000 financed car that is up to seven years old and has less than 80,000 miles on the clock, ALA will quote you £167.89* upfront, whereas Click4GAP will quote £133.95*. However, Back to Invoice GAP insurance from Click4GAP can only be purchased within 90 days; with ALA, you have up to 180 days to choose your policy. There are also many other benefits, as previously mentioned, when you choose ALA.

Although Click4GAP is a commendable provider, it might not tick all the boxes that customers need, including longer time to purchase their GAP insurance policy.

Choosing the best GAP insurance quote for you

With all this information, the final decision boils down to individual needs and preferences. Here are a few steps to help you decide:

• Assess Your Needs: Consider how you’ve purchased your car and the kind of coverage you’re looking for. If you’re on a finance agreement, finance cover becomes crucial.
• Compare Prices: While not the only factor, the cost of a policy will influence your decision.. Ensure you’re getting value for your money. All of our GAP insurance policies are competitively priced, and there are a wide range of discount codes on offer.
• Review Additional Benefits: Perks like excess contribution can provide added peace of mind.
• Check Customer Reviews: It’s helpful to be able to see the experiences of others. High ratings on platforms like Trustpilot can be a significant deciding factor.
• Speak to Representatives: Sometimes, a simple conversation can help clarify doubts and give you a feel for the company’s customer service.
• Read the Fine Print: Always read the policy documents. It’s essential to know what’s covered, any exclusions, and the process for making a claim.

In conclusion, both ALA and Click4GAP offer robust GAP insurance options. However, our policies include a wide range of optional extras, including tyre and alloy wheel insurance, key care, and excess cover. We also offer a pay monthly option to help spread the cost of taking out a GAP insurance policy.

Ensuring you have GAP insurance can provide peace of mind knowing you’re protected against unexpected financial setbacks in case of an unfortunate event. Start building your GAP insurance quote with ALA today.

*correct as of September 2023