New Car GAP Insurance

[steve burnett]

Hi,
well I (should) finally bought a X5. Not the 2 or 3 year old one but a brand new one (first ever new car). Looking forward to getting it on Friday. 30d M Sport.

Anyway, I'm interested in GAP insurance and I have had a look in the search are for info. I got some but not much.

So, what I read was:
BMW offer it but way above market rate. They can offer good discounts if they decide to.
I went onto ala.co.uk and they quoted approx £340 for 4 year cover on back to invoice plus (no idea what the plus is?)
Anything I should know about it other than that? I've never looked at it before so have little info.

Tyre insurance any good? I know you basically pay £350 (the cost of one tyre) and can claim for upto 5 tyres.
Can only be on a tyre with approx 20-25% tread left.

Thanks for any help given.
Steve

[X5Sport]

Hi and Welcome,

I went with the BMW GAP & Tyre cover because I did a deal with the Dealership to get the costs down.

The tyres (being RFT0 are expensive and I thought that as long as it was a puncture/irreparable damage and not caused by wear then there were no issues.

The BMW GAP cover seemed at the time to be the best choice as I hope (and still do) that should it be needed then there would be less hassle as all parties knew what it was all for, and options would not be queried.

Richard

[lezmtaylor]

Congratulations on the NEW car.
Sanj will be along shortly with his customary welcome!!
I took out Gap with BMW, did not know any better at the time, but said I was not paying their prices and they promptly reduced it 50%.
Have no experience of tyre ins.

Lez

[IvanG]

Check with your insurance company first. Many of them will replace your car with a new one if it's written off within the first year

[PeterL]

I had a look at this recently as I ordered a new car but mine isnt due until 14th April .  On the face of it it all looks quite good especially the cosmetic insurance.

[535dboy]

Do not accept the first quote you have been given as suggested above.

There is generally plenty of room for negotiation I got a fair bit off the porsche one and as the Audi guys no me they were fair straight away and cheaper than Porsche despite both cars having same value and being part of VAG group

As others have said the first year is normally covered by most insurers anyway so it is subsequent years that are important.

Iirc the ALA one has a cap (£25k?)of what they will pay so as the policy goes on and the car de values, the cap may not be sufficient to cover the gap from market value to new car whereas dealer policies are unlimited (but check that)

Basically divide cost by number of years of policy and add it to your normal insurance premium and it seems worthwhile, I have always done it and it is always important if it is a high spec car or new one heavily discounted.

HTH

[graemeX5]

Congrats on the new car.

I would reiterate the sentiments above as if you do have a prob it would make up any shortfall

[davyk31]

Interested in what made you decide brand new over a 2 or 3 year old X5, thats my position too so would be keen to see how the new one made better sense or did you just treat yourself?

[Chompers]

Just been looking at Tyre cover for Mrs Chompers new car, dealer wants £450. As has been said there is good margin in all these products and am wait for the proper price  A quick search for a generic policy shows up a price of £259 for her wheel combo. Cover is for upto 5 tyres @ upto £300 each. Inc euro cover no wear and tear issues and cover them down to the legal limit 1.6mm. For the cost of 1 tyre, seems mad not to take it at that price. However Im over 2.5 years into the policy on my 5er and yet to claim ::) It should be noted that the dealer cover also includes upto 5 alloy refurbs which may be useful given Mrs Chompers track record  :wall:

Regarding GAP, never had it and the sales guy said it was the smallest take up of all the policies they sold. Enough said

@ Steve - Have you collected the new 'X' and did you take out any of the policies?

[535dboy]

What is she getting chompers?

[Chompers]

[quote="535dboy"]
What is she getting chompers?
[/quote]

320d Sport Plus ED Convertible hence why the 1er's up for sale