Featured within the Which? Report on Gap Insurance.
Protected by the Financial Services Compensation Scheme.
How do we compare to other Scratch & Dent Insurance providers?
Scratch & Dent Insurance, otherwise known as 'Smart' or cosmetic repair insurance, is quickly becoming a must have when purchasing a new or used car in the UK. During the purchase process of the car, you may be offered a number of additional forms of protection such as the Gap Insurance, Alloy Wheel Insurance, Tyre Insurance and of course, Scratch & Dent Insurance. Not knowing an awful lot about the insurances and how they work, you decide to check online and find that independent suppliers such as us, can provide the protection at a much more cost effective price. But, how do we compare in terms of ability?
This form of insurance is designed to limit the need for a bodyshop repair and to cover the cost of repairing minor damage on the car, whilst protecting your no claims bonus on your comprehensive motor insurance policy.
All forms of insurance will have different features and different limitations, Scratch & Dent Insurance is no different. Below you will see a list of key features attached to the Total Loss Gap Scratch & Dent Insurance policy.
With other policies listed on the market, you may be limited to just 3 claims per year and have a much higher excess of say £25.00 to pay per claim. At Total Loss Gap, our Scratch & Dent Insurance policy will give you the ability to make upto 6 claims per year and only has an excess of £10 to pay per claim.
Being part of Aequitas Automotive Ltd, we act in a similar way to a broker and have access to a number of different underwriting insurers and therefore different policy terms and conditions. On our Shortfall.co.uk website, the Scratch & Dent Insurance policy has a number of different key features for you to consider, some advantages and some dis-advantages but the choice is yours to make.
Rather than being limited to a maximum of 6 claims per year, the Shortfall.co.uk policy will have no limit to the number of claims but instead a maximum claims benefit of £3,000 spread over the term of the policy. The policy also has the ability to cover upto 300mm in diameter, rather than a maximum of 150mm in diameter you get with a Totallossgap.co.uk policy. This extra ability does come at an extra cost, not in the premium price, instead in the excess/call out charge you have to pay in the event of you making a claim. Rather than having a £10 excess to pay per claim, instead you have to pay a fee of £25 per claim.
It really does depend on what you value within your policy, some would prefer the extra coverage, others prefer not to pay as much in the event of a claim. As long as we have provided you with all of the options for you to make an informed decision, we have done our job.
Unfortunately, it's not as easy as a yes or no answer. Instead it is down to the individual on whether or not you see the value in the insurance. We all expect to pick up small pieces of damage, a small trolley ding for example, but how many pieces of damage would you expect to pick up and therefore how many times do you expect to make a claim. Weighing that up against the cost of having the damage repaired independently or through your motor insurance policy, should help to give you the answer of whether or not the policy is a good idea for you.
Other factors may come into play, such as any charges incurred when handing the vehicle back to the finance/contract hire/lease hire company or previous experiences with other vehicles will again help you to decide whether or not a Scratch & Dent Insurance policy is a good idea for you.
Your policy is fully FCA regulated and backed by the Financial Services Compensation Scheme.
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