Hertfordshire (PRWEB UK) 31 January 2013
Tom Barley, a spokesman for car2cover, a specialist on-line broker for Gap Insurance, said, “The BBC’s ‘Rip Off Britain’ television series aired a feature on Gap Insurance and how it might benefit buyers of new and used vehicles. In it programme presenter Gloria Hunniford and a guest financial expert suggested buyers should look at alternatives on-line before agreeing to buy.”
This particular episode presented the case of a consumer who purchased Gap Insurance from her car dealership for £930.00 and later found the same cover on-line for under £200.00 – a saving of over £700.00.
“It’s not just a price issue. In another BBC consumer protection programme “Don’t Get Done – Get Dom, presenter Dominic Littlewood and a spokesman from WhatCar?, criticised motor dealers for their sales process and insurance product knowledge which left consumers under insured or with the wrong policy,” said Barley.
The WhatCar? Spokesman advised, “Buyer’s of Gap Insurance should visit on-line retailers to consider what is available to them” and this does sound like very good advice.
According to Barley, “Which? Magazine’s attention was also drawn to Gap Insurance quite recently when they researched the protection it provides consumers and where to buy. They also identified that policy details do differ between the various suppliers and their article said that shopping around ‘could get you a deal that is four time cheaper than buying direct from your dealer’ but more significantly they advised ‘Price is only one thing to consider; the terms of the policy are equally important.”
This is where Gap Insurance buyers need to take care because the same type of policy with the same level of cover offered by a number of suppliers will all perform differently during the period of cover and particularly when it comes to making a claim.
Specialist on-line insurance brokers like car2cover create and design the policy terms and conditions with their insurers, which ultimately affects the premium. “So, if we wanted to be the cheapest on-line, we could choose basic terms and conditions that reduce the insurers financial risk and therefore cover would be cheaper. Instead, we decided we wanted to offer the best policy on the market with the least claim payment deducting exclusions and for that we were happy to pay a few pounds more,” enthused Barley.
So, the message is – the policies may sound the same but the devil is in the detail. Always compare the policy terms and conditions, benefits and exclusions before choosing cover. Making a £10 saving on a 3 year policy could cost hundreds if not thousands of pounds when it comes to making a claim. Great cover is available at a fraction of a dealer’s price but customers do need to research carefully before parting with their premium.
For more information about these products and a free feature comparison with any other policy you might be considering contact car2cover telephone help on 01438 728959 or email them at mail (at) car2cover (dot) co.uk.
car2cover are the UK’s longest continually FSA authorised and regulated specialist Gap Insurance broker with over 30 years experience in the motor and insurance industry.