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guy9159

Which GAP insurance cover?

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Looking at ALA GAP insurance and there's 2 options - 'Replacement Vehicle Plus' or 'Return to Invoice Plus'

 

Using a hypothetical scenario, if the MK7.5R was to be written off next year and I had 'Replacement Vehicle Plus' then would I get my main insurer (Admiral) market value payout PLUS a replacement vehicle (exact same spec + model year) from ALA? If its JUST a replacement vehicle (and no main insurer payout) then surely this would be less than return to invoice cover? Because the exact same vehicle will be worth less in the future.

 

If I had 'Return to Invoice Plus' then I would get the main insurer market value payout + difference between main insurer payout and invoice price (£24,980).

 

Which one is better?

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I took mine out last week. I took out Return to Invoice Plus, as if it came down to it, I would rather have the cash in the bank and then decide what I want to do with it :)

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they are both very different I thought, I took out return to invoice

the difference in my understand is as follows

1. return to invoice would basically pay you the difference between your insurance payout and your new purchase price from the invoice I.e if 35k new and insurance pay out is 25k then ALA will give you 10k

2. replacement plus would give you the money back to a replacement I.e similar car or to pay off finance agreement if higher than insurance payout. I.e if insurance payout 25k at a year old and a 1 year old R of similar spec is 28k ALA will give you 3k

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forgot to add I think you can only get return to invoice within 180 days of purchase from a garage and not sure if it needs to be new car also

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