Sales of Tyre, Alloy and Scratch & Dent Insurance rise with Total Loss

Are you looking to add Tyre Insurance, Alloy Wheel Insurance or Scratch and Dent Insurance to a Gap Insurance policy from Total Loss Gap? We are pleased to say more customers than ever before have done just that in September 2016. We tell you why.

When we introduced the new Totallossgap.co.uk Website in February 2015 we did so with one, uncomplicated and complete Gap Insurance product as a 'stand alone' purchase. The key in developing this style of Gap Insurance was to try to ensure that it was not only the most complete product in the market but also the least complicated. This is something we feel we achieved for several reasons. The age old issue of having to choose between the three traditional Gap Insurance types, namely:

Finance and Contract Hire Gap
Combined Return to Invoice Gap
Combined Vehicle Replacement Gap

By combining all three products and providing the best outcome if a claim takes one aspect of confusion away from consumers trying to select the best type of Gap Insurance for them.

The second aspect that comes up time and time again is the required selection of a 'claim limit' on the Gap Insurance. This can be crucial as essentially it is the maximum amount you can ever claim on your Gap policy. Again calculating how much cover you need can be difficult. The beauty of Total Loss Gap is that we have dispensed with the need of any claim limit at all. The claim is simply 'unlimited' regarding the difference between the motor insurer's settlement and the higher of the finance settlement, the invoice price or the replacement cost.

In short, we set out to design a Gap Insurance that gives you more than many other products but also takes all the confusion away from the cover. We feel confident we have done that.

When we began discussions to include additional products we decided that these should really reflect the products that are commonly offered in motor dealers. We settled on four options:

Adding these products to the Website was never going to be too difficult. However as we had worked so hard to try to provide a simple, yet complete Gap Insurance product, we had to make sure that these additional products also had to stand out in the market. This is how we feel we achieved this too.

Tyre Insurance

Most tyre insurance products in the market are limited to five claims during the policy term. With the tyre insurance policy from Total Loss Gap this is potentially more than doubled to a maximum of four claims per year over a maximum three years providing an eye-watering maximum of 12 claims.
Many other Tyre Insurance products are limited to £100-£300 per replacement tyre. With Total Loss Gap Tyre Insurance the maximum replacement cost is £350 per tyre.
Only a £10 excess charge per claim as opposed to higher excesses of £25-£50 seen elsewhere in the market
No initial waiting period at the beginning of the policy. A waiting period is the time after you start cover during which time you cannot claim. Other providers can be up to 30 days and if you have damage in this time you are simply not covered.
Cover provided for standard and run flat style tyres up to 20-inch diameter

Scratch and Dent Insurance

Up to six claims per 12 month period of cover, whereas many other policies in the market are limited to two or three per year. Literally, you can get twice as many claims with Total Loss Gap.
Only a £10 excess per claim whereas other in the market can be £15-£50 excess per claim.
Cover can be provided where the damage covers two panels of the vehicle. Many alternative products only cover damage to one body panel.
Again there is no 'waiting period' at the start of the policy. This means that you can make an eligible claim for any damage that occurs after you have purchased the policy.

Alloy Wheel Insurance

The clear advantage of a Total Loss Gap Alloy Wheel Insurance policy is the fact that you can cover the ever more popular diamond and laser cut alloys. Nearly every other alloy wheel product in the market will exclude these types of alloys. Trying to tell whether you actually have diamond or laser cut can be difficult and some other products you would buy may not be able to honour a claim at all.
Only a £10 excess per claim.
Three levels of claim. First would be a mobile repairer coming out to your home or place of work. The second, if the damage is too much for a mobile repairer to make a successful repair, is to send the alloy off for a full factory refurbishment. If the alloy is beyond repair then we offer a £150 contribution towards the cost of a replacement alloy. Many other policies will only offer option 1, and if this is not possible then your claim may not be processed.
No Waiting Period at the beginning of the policy.

Complete Wheel Insurance

This is basically designed to combine the Tyre Insurance and the Alloy Wheel Insurance into one policy that provides all the same features of the individual policies but provides a lower combined premium to give even better value.

Four claims for tyres per 12 month period
Four claims for alloys per 12 month period
£10 excess per claim

More consumers taking more Total Loss Gap cover

September 2016 has already broken all records for Total Loss Gap as a brand, but we have also seen the highest percentage of additional products now being taken by our customers. We are certain that the market leading ethos of the original Total Loss Gap product has now been passed to the additional products we now offer. When compared to the rest of the market we feel certain they offer the best features and the best premium prices.