Featured within the Which? Report on Gap Insurance.
Protected by the Financial Services Compensation Scheme.
Is there something missing with cheaper policies?
With any product or service you buy, in some cases you may think there is a compromise if it is cheaper. When we think of cheap, we think of low quality, flimsy, poor service and generally inferior. However, if you're purchasing a branded chocolate bar for example, purchasing it from one supermarket, it would be one price and if it is purchased at another supermarket, it would be a completely different price. Same chocolate bar, completely different price.
In terms of Gap Insurance, it is very much similar. Providing you compare the policy features and double check that the policy does exactly what you expect it to do, the price you pay is more an indication of where you have purchased it, rather than the quality of the product you have. We have created this page as we promise to be the best price you find for Gap Insurance and therefore, we always get asked the question, what is missing? The simple answer is, nothing.
Being featured within the likes of Martin Lewis Money Saving Expert review into Gap Insurance and the Which? Consumer Magazine, we want you to get the very best deal and not to be paying more for a policy that does the exact same job.
In terms of the ability of our policies, we consider them to be amongst the best if not, the best policies available in the UK. The additional ability of not being limited to a maximum claim limit or the £250 excess contribution are features that you should be looking for when purchasing Gap Insurance online. It may seem like the wrong way to run a business, offer the best product at the very best price, surely we should be charging more?
Being part of Aequitas, we believe in being fair, honest and upfront in all that we do and we want to give you the best price for the best policy. We work on a volume basis rather than providing fewer policies with larger profit margins. Slightly strange, as you would usually expect to pay more for the better product or service.
For Example, a Louis Vuitton suitcase could cost many thousands of pounds and naturally more than the likes of a supermarket own brand of suitcase. Because you are paying for the workmanship, the brand and the materials. You would expect to pay more. If we look at buying a car, as economical and affordable as a Citroen C1 is, it will cost a lot less than an Audi A1. Again, you are paying for the brand, the engineering and the road handling. This is not a slight on the C1, instead just a note that the A1 is a different car.
We are conditioned to think that the more expensive and costly a product is, the better it will be. However, with an insurance policy, as long as you're happy with the policy features and the way in which it performs, the branding, marketing and all the other things that go with it, doesn't change how your policy performs.
Therefore, when looking at Gap Insurance, don't automatically think that the better priced a policy is, the least it will do for you. Always check the policy features and exactly how the policy performs and then once you're happy, compare the price and see how much you could save. As mentioned previously, we are always asked the question, why are we so cheap and is there anything missing? But, we always ask the question, why are other providers more expensive and are they as good as our policies?
The chances are that you will have had a quotation from your dealership when you first purchased the vehicle, this price is likely to be in and around the average dealership price of £395. In some cases, it may have been as high as £800 and believe it or not, the most we have heard is £2,148 for just three years cover. Staggering!
If you are wondering exactly what you should be paying for Gap Insurance, why not click to view our guide and find out exactly what you should be paying.
Your policy is fully FCA regulated and backed by the Financial Services Compensation Scheme.
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