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Buying GAP Insurance for your Toyota | What you Need to Know

GAP insurance is a great investment for anyone who has purchased, financed or leased a new car and would like to protect their asset. GAP insurance can help protect you financially should your car be declared a total loss, whether it is written off or stolen. It is available for most car makes and models, including Toyota. Many dealerships including Toyota will offer GAP insurance to their customers but there may be greater benefits to opting for GAP insurance with an external provider like ALA.

In this guide, we will explore whether you are eligible for GAP insurance on your Toyota, and the GAP insurance that Toyota provides themselves. We will also look at how the GAP insurance choices at ALA can help you, and why our policies are often the best choice for you and your vehicle.

Am I eligible for GAP insurance on my Toyota?

When considering GAP insurance for your Toyota, eligibility is a crucial factor. Generally, GAP insurance is available for both new and used vehicles, and for a variety of purchase methods. ALA GAP insurance policies have certain restrictions and exclusions, such as vehicle value and age. We have several policies available with varying restrictions, usually meaning there is something available for everyone, so if your vehicle does exceed the age limit for Vehicle Replacement GAP Insurance, we have Back to Invoice GAP Insurance and if that isn’t available you can choose Agreed Value GAP Insurance.

Our Toyota GAP insurance is available on all of our GAP coverage options, as long as the vehicle is within our mileage, age and value restrictions, and has been purchased or leased within the accepted time frame. You can find out more about our restrictions and exclusions in our previous guide here.

You can start building your Toyota GAP Insurance quote on our website.

toyota dealership

Do Toyota provide GAP insurance?

Toyota does offer GAP insurance in the form of “Total Loss Asset Protection,” providing coverage for up to three years. It’s essential to understand the terms and conditions associated with Toyota’s GAP insurance, including coverage limits and eligibility requirements. While Toyota’s option is convenient, based on customer feedback about dealer policies they can be more than double the cost of independent providers, so exploring alternative providers can offer savings as well as additional benefits.

How can ALA Toyota GAP insurance help me?

ALA Toyota GAP insurance provides a range of options to meet your specific needs. These options include Return to Invoice (RTI), Vehicle Replacement Insurance (VRI), Contract Hire GAP (CHG), and Agreed Value GAP (AVG). Each option caters to different scenarios, providing extra coverage in case of theft or write-off.

  • Return to Invoice (RTI), or Back to Invoice: This covers the financial gap between your insurance payout and the original invoice price you paid for your Toyota, or the finance settlement balance (whichever is higher at the time of claim). This can help you get back on the road without a significant financial setback.

  • Vehicle Replacement Insurance (VRI): If your Toyota is written off, VRI covers the difference between your insurer’s payout and the cost of replacing your vehicle with a new one, (or one of a similar age if it wasn’t brand new when purchased). This ensures you can continue with the same car but without the extra costs if it’s more expensive. If you have financed the vehicle, this option will pay up to the outstanding balance if this is higher at the time of claim.

  • Contract Hire GAP (CHG): Ideal for those who have leased their Toyota, this option covers the difference between the settlement figure required by the lease company and the amount your insurer pays out.

  • Agreed Value GAP (AVG): This option is for anyone who bought their Toyota from a private seller rather than a VAT Registered dealership, or due to time restrictions is no longer able to buy RTI or VRI. This cover is not suitable for leased vehicles.

Choosing the right type of GAP insurance depends on your individual circumstances and preferences, and ALA provides the flexibility to tailor coverage accordingly. You can get in touch with us here to discuss your quote or claim.

Why should I choose ALA GAP insurance over Toyota GAP insurance?

While Toyota’s Total Loss Asset Protection is a viable option, ALA offers distinct advantages that might make it a more appealing choice for Toyota owners.

  • Extended coverage period: ALA provides GAP insurance coverage for up to four years, exceeding Toyota’s three-year limit.* Some Toyota owners will keep their cars for more than 3 years, so this extended term ensures prolonged protection against potential financial loss. Dealers tend to have a “one size fits all” policy, which doesn’t work for everyone in terms of their average savings.

  • Affordable with flexible payment options: Not only are we less expensive, ALA also offers several payment options, allowing you to choose a plan and payment method that aligns with your budget..

  • Vehicles with a higher value will be covered with ALA: Toyota only covers vehicles with a net invoice price of £75,000, whereas ALA can cover vehicles worth up to £125,000.*

  • Comprehensive customer support: ALA is renowned for its customer-centric approach, providing dedicated support throughout the claims process. This commitment to excellent customer service sets ALA apart from other providers.

Want to protect your vehicle against a total loss? Start building your Toyota GAP insurance quote today.

Roadtrip - A couple in a car

How GAP insurance from ALA can help

Investing in GAP insurance from ALA for your Toyota provides peace of mind and financial security. In the unfortunate event of a write-off or theft, we will bridge the gap between your insurer’s payout and the actual financial loss you might otherwise incur, whether due to vehicle depreciation alone or an amount owing on a finance agreement.

By selecting the appropriate GAP insurance option, you safeguard yourself from potential financial setbacks and ensure that you can continue driving a comparable Toyota without an additional and unexpected financial burden.

In conclusion, when considering GAP insurance for your Toyota, thoroughly evaluate your vehicle’s eligibility, explore the options provided, and make an informed decision based on your individual needs. Our extended coverage, competitive pricing, flexible payment options, and comprehensive customer support make it a compelling choice for Toyota owners seeking reliable and comprehensive GAP insurance.

To find out more, or to start building your quote, you can visit us here.

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*all details correct as of December 2023